Balance Sheets December 31 2022 2021 2020 Cash $30,100 $ 16,100 $ 18,300 Accounts receivable (net) 49,800 45,500 47.900 Other current assets 89,600 95,000 63,000 Investments 55,100 70,000 46,000 Property, plant, and equipment (net) 500,100 370,800 358,600 $724,700 $597,400 $533,800 Current liabilities $84,500 $79,400 $69.700 Long-term debt 145,700 84,300 50,700 Common stock, $10 par 381,000 319,000 306,000 Retained earnings 113,500 114,700 107.400 $724,700 $597,400 $533,800 Sheridan Corporation Income Statements For the Years Ended December 31 2022 2021 $744,500 $605,400 Sales Less: Sales returns and allowances 39,200 30,700 Net sales 705,300 574,700 424,700 366,000 280,600 208,700 Cost of goods sold Gross profit Operating expenses (including income taxes) Net income 188,911 151.230 $91,689 $57.470 Additional information: 1 The market price of Jergan's common stock was $7.00,$7.50, and $8.50 for 2020, 2021, and 2022, respectively. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration 2 (a) Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings pe share to 2 decimal places, e.g. 1.65. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) 2022 2021 (1) Profit margin 10 % 13 % (2) Gross profit rate 36.3 % 39.8 % (3) Asset turnover 1.02 times 1.07 times (4) ) Earnings per share 1.84 2.62 (5) Price earnings ratio 4.2 times 3.2 times 6 (6) Payout ratio 87.3 % 1013 (7) Debt to assets ratio 27.4 % 318 % F e Textbook and Media