The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows:

J. P. Robard Mfg., Inc.

Balance Sheet ($000)

Cash ..........................$ 500

Accounts receivable ................... 2,000

Inventories ................................. 1,000

Current assets ............................ 3,500

Net fixed assets ......................... 4,500

Total assets ................................$8,000

Accounts payable ...............................$1,100

Accrued expenses ............................... 600

Short-term notes payable ................... 300

Current liabilities ...............................$2,000

Long-term debt ................................. 2,000

Owners’ equity ................................. 4,000

Total liabilities and owners’ equity ........$8,000

J. P. Robard Mfg., Inc.

Income Statement ($000)

Net sales (all credit) ..........................$8,000

Cost of goods sold ............................(3,300)

Gross profit .......................................$4,700

Operating expenses (includes $500 depreciation)..(3,000)

Net operating income .......................$1,700

Interest expense ............................... (367)

Earnings before taxes .......................$1,333

Income taxes (40%) ......................... (533)

Net income .......................................$ 800

Calculate the following ratios:

Current ratio .....................Operating return on assets

Times interest earned........Debt ratio

Inventory turnover ..........Average collection period

Total asset turnover .........Fixed asset turnover

Operating profit margin ........Return on equity