Comparative financial statements for Sunland and Culver Ltd. are shown below.

SUNLAND AND CULVER LTD. Income Statement Year Ended December 31
		2021			2020
Net sales		$845,000			$785,000
Cost of goods sold		575,000			525,000
Gross profit		270,000			260,000
Operating expenses		159,000			155,000
Profit from operations		111,000			105,000
Other revenues and expenses
Interest expense		40,000			20,000
Profit before income tax		71,000			85,000
Income tax expense		7,000			20,000
Profit		$64,000			$65,000

SUNLAND AND CULVER LTD. Balance Sheet December 31
Assets		2021		2020		2019
Cash		$89,000		$86,000		$10,000
Accounts receivable		108,000		104,000		105,000
Inventories		140,000		135,000		97,000
Prepaid expenses		25,000		22,000		115,000
Land, buildings, and equipment		390,000		305,000		300,000
Total assets		$752,000		$652,000		$627,000
Liabilities and Shareholders Equity
Liabilities
Notes payable		$110,000		$100,000		$100,000
Accounts payable		44,000		41,000		50,000
Accrued liabilities		32,000		45,000		30,000
Bonds payable, due 2024		190,000		150,000		188,000
Total liabilities		376,000		336,000		368,000
Shareholders equity
Common shares (20,000 issued)		200,000		200,000		200,000
Retained earnings		176,000		116,000		59,000
Total shareholders equity		376,000		316,000		259,000
Total liabilities and shareholders equity		$752,000		$652,000		$627,000

Additional information:

1.		Seventy-five percent of the sales were on account.
2.		The allowance for doubtful accounts was $4,000 in 2021, $5,000 in 2020, and $3,000 in 2019.
3.		In 2021 and 2020, dividends of $4,000 and $8,000, respectively, were paid to the common shareholders.
4.		Cash provided by operating activities was $103,500 in 2021 and $127,000 in 2020.
5.		Cash used by investing activities was $105,500 in 2021 and $35,000 in 2020.

(a)

Calculate all possible liquidity, solvency, and profitability ratios for 2021 and 2020. (Round answers for Collection period, Days sales in inventory, Operating cycle and Free cash flow to 0 decimal places, e.g. 125. Round answer for Earnings per share to 2 decimal places, e.g. 12.50. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%. Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Solvency Ratios
	8.		Debt to total assets			%			%
	9.		Interest coverage			times			times
	10.		Free cash flow		$			$
Profitability Ratios
	11.		Gross profit margin			%			%
	12.		Profit margin			%			%
	13.		Asset turnover			times			times
	14.		Return on assets			%			%
	15.		Return on equity			%			%
	16.		Earnings per share		$			$
	17.		Payout ratio