Calculate the following ratios for Lake of Egypt Marina Inc.

as of year-end 2022. (LG 21-4)

Lake of Egypt Marina Inc.
Balance Sheet as of December 31, 2021 and 2022 (in millions of dollars)
Assets 2021 2022 Liabilities & Equity 2021 2022 Current assets: Current liabilities:
Cash and marketable securities $ 65 $ 75 Accrued wages and taxes $ 43 $ 40 Accounts receivable 110 115 Accounts payable 80 90 Inventory 190 200 Notes payable 70 80 Total $365 $390 Total $193 $210 Fixed assets: Long-term debt: $280 $300 Gross plant and equipment $471 $580 Stockholders’ equity:
Preferred stock (2 million shares)
Less: Depreciation 100 110 $ 5 $ 5 Net plant and equipment $371 $470 Common stock and paid-in surplus (65 million shares) 65 65 Other long-term assets 49 50 Total $420 $520 Retained earnings 242 330 Total $312 $400 Total assets $785 $910 Total liabilities and equity $785 $910 Lake of Egypt Marina Inc.
Income Statement for Years Ending December 31, 2021 and 2022 (in millions of dollars)
2021 2022 Net sales (all credit) $432 $515 Less: Cost of goods sold 200 260 Lake of Egypt Marina Inc. Industry

a. Current ratio 2.0 times

b. Quick ratio 1.2 times

c. Days sales in receivables 32.50 days

d. Days sales in inventory 101.39

e. Sales to working capital 4.25 times

f. Sales to fixed assets 1.15 times g. Total assets turnover 1.18 times h. Debt to assets 62.50%
i. Times interest earned 9.50 times j. Cash flow to debt interest charge 8.25 times k. Gross margin 55.55%
l. Profit margin 28.75%
m. ROA 19.75%
n. ROE 36.88%
o. Dividend payout ratio 35%
Using these ratios for Lake of Egypt Marina Inc. and the industry, what can you conclude about Lake of Egypt Marina’s financial performance for 2022? (Ratios l, m, n, and o use net income available to common stockholders.)AppendixLO1