BRIDGEPORT CORPORATION Balance Sheets December 31 2017 2016 2015 Cash $32,000 $22,000 $20,000 Accounts receivable (net) 52,000 47,000 50,000 Other current assets 93,000 98,000 67,000 Investments 58,000 73,000 48,000 Plant and equipment (net) 500,000 370,000 358,000 $735,000 $610,000 $543,000 Current liabilities $ 87,000 $82,000 $72,000 Long-term debt 148,000 88,000 53,000 Common stock, $10 par 323,000 313,000 303,000 Retained earnings 177,000 127,000 115,000 $735,000 $610,000 $543,000 BRIDGEPORT CORPORATION Income Statements For the Years Ended December 31 2017 2016 Sales revenue $743,000 $603,000 Less: Sales returns and allowances 42,000 32,000 Net sales 701,000 571,000 Cost of goods sold 428,000 353,000 Gross profit 273,000 218,000 Operating expenses (including income taxes) 182,000 152,000 Net income $ 91,000 $66,000 Additional information: 1. The market price of Bridgeport's common stock was $7.00, $7.50, and $8.50 for 2015, 2016, and 2017, respectively. 2. You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2016 and 2017. (Round earnings per share and asset turnover to 2 decimal places, e.8 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 1.8%.) 2017 2016 Profit margin 13 % 11.6 % Gross profit rate 38.9 % 38.2 % Asset turnover 1.04 times .99 times Earnings per share $ 2.82 2.11 Price-earnings ratio times Payout ratio Debt to assets ratio