2021 BLOSSOM COMPANY Income Statements For the Years Ended December 31 2022 Net sales $1.919,400 Cost of goods sold 1,067,000 Gross profit 852,400 Selling and administrative expenses 520,000 Income from operations 332,400 Other expenses and losses Interest expense 22,880 Income before income taxes 309,520 Income tax expense 92,856 Net income $ 216,664 $1,785,000 1,046,240 738,760 498,160 240,600 20,800 219,800 65,940 $ 153,860 2021 $ 66,768 52,000 106,912 120,120 345,800 541,112 $886,912 BLOSSOM COMPANY Balance Sheets December 31 Assets 2022 Current assets Cash $ 62,504 Debt investments (short-term) 76,960 Accounts receivable 122,512 Inventory 131,040 Total current assets 393,016 Plant assets (net) 674,960 Total assets $1,067,976 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 166,400 Income taxes payable 45,240 Total current liabilities 211,640 Bonds payable 228,800 Total liabilities 440,440 Stockholders' equity Common stock ($4 par) 301,600 Retained earnings 325,936 Total stockholders' equity 627,536 Total liabilities and stockholders' equity $1,067,976 $151,216 43,680 194,896 208,000 402,896 312,000 172,016 484,016 $886,912 All sales were on account. Net cash provided by operating activities for 2022 was $228,800. Capital expenditures were $141,440, and cash dividends were $62,744. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.) (a) Earnings per share $ 2.87 (b) Return on common stockholders' equity 51.03 % (c) Return on assets 2.22 % (d) Current ratio 1.86 :1 (e) Accounts receivable turnover 16.73 times (f) Average collection period 21.82 days (g) Inventory turnover 8.50 times (h) Days in inventory 42.94 days (i) Times interest earned 14.53 times (j) Asset turnover 1.96 times (k) Debt to assets ratio 41 % (1) Free cash flow ta 87360