1. Here are the comparative condensed income statements of Blue Spruce Corporation.

BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31
		2022		2021
Net sales		$644,500		$557,200
Cost of goods sold		457,595		401,184
Gross Profit		186,905		156,016
Operating expenses		77,340		47,362
Net income		$ 109,565		$ 108,654

(a)

Prepare a horizontal analysis of the income statement data for Blue Spruce Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)

2. The following financial information is for Crane Company.

CRANE COMPANY Balance Sheets December 31
Assets		2022		2021
Cash		$ 70,290		$ 69,840
Debt investments (short-term)		50,000		41,000
Accounts receivable		107,000		92,000
Inventory		234,000		162,000
Prepaid expenses		29,000		23,000
Land		135,000		135,000
Building and equipment (net)		261,000		187,000
Total assets		$886,290		$709,840
Liabilities and Stockholders Equity
Notes payable		$173,774		$106,000
Accounts payable		66,000		54,000
Accrued liabilities		42,000		42,000
Bonds payable, due 2025		250,000		171,000
Common stock, $10 par		203,000		203,000
Retained earnings		151,516		133,840
Total liabilities and stockholders equity		$886,290		$709,840

CRANE COMPANY Income Statements For the Years Ended December 31
		2022		2021
Sales revenue		$905,450		$792,000
Cost of goods sold		653,400		569,900
Gross profit		252,050		222,100
Operating expenses		197,723		160,324
Net income		$ 54,327		$ 61,776

Additional information:

1.		Inventory at the beginning of 2021 was $116,000.
2.		Accounts receivable (net) at the beginning of 2021 were $88,000.
3.		Total assets at the beginning of 2021 were $642,000.
4.		No common stock transactions occurred during 2021 or 2022.
5.		All sales were on account.

(a1)

Compute the liquidity and profitability ratios of Crane Company for 2021 and 2022. (Round current ratio, asset turnover and earnings per share to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 1.8%. If % change is a decrease show the numbers as negative, e.g. -1.83% or (1.83%).)