Comparative financial statements for Sunland and Culver Ltd. are shown below. SUNLAND AND CULVER LTD. Income Statement Year Ended December 31 2021 Net sales $845.000 575.000 270.000 159.000 111.000 2020 $785.000 525,000 260,000 155,000 105.000 Cost of goods sold Gross profit Operating expenses Profit from operations Other revenues and expenses Interest expense Profit before income tax Income tax expense Profit 20.000 40.000 71.000 85.000 20.000 7.000 $64.000 $65.000 2020 $86,000 104,000 135,000 22,000 305,000 $652,000 2019 $10,000 105,000 97,000 115,000 300,000 $627,000 SUNLAND AND CULVER LTD. Balance Sheet December 31 Assets 2021 Cash $89,000 Accounts receivable 108,000 Inventories 140,000 Prepaid expenses a 25,000 Land, buildings, and equipment 390,000 Total assets $752,000 Liabilities and Shareholders' Equity Liabilities Notes payable $110.000 Accounts payable 44.000 Accrued liabilities 32,000 Bonds payable, due 2024 190.000 Total liabilities 376.000 Shareholders' equity Common shares (20.000 issued) 200.000 Retained earnings 176.000 Total shareholders' equity 376.000 Total liabilities and shareholders' equity $752.000 $100.000 41.000 45.000 150.000 336.000 $100,000 50,000 30.000 188,000 368,000 200.000 116.000 316.000 200.000 59.000 259.000 $627.000 $652.000 Additional information: 1. Seventy-five percent of the sales werk 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, solvenc and profitability ratios for 2021 and 2020. (Round answers for Collection period, Days sales in Inventory, Operating cycle and Free cash flow to O decimal places, es. 125. Round answer for Earnings per share to 2 decimal places, eg. 12.50. Round all other answers to 1 decimal place, eg. 12.5 or 12.5% Enter negative amount using either a negative sign preceding the number 03.-45 or parentheses es (451 2021 2020 Liquidity Ratios 1. Current ratio :1 :1 2. Acid-test ratio 1 : 1 3. Receivables turnover times times 4. Collection period days days 5. Inventory turnover times times 6. Days sales in inventory days days 7. Operating cycle days days Solvency Ratios 8. Debt to total assets % % 43 9. Interest coverage times times 10. Free cash flow $ Profitability Ratios 11. Gross profit margin %6 % 12. Profit margin se % 13. Asset turnover times times 14. Return on assets % % 15. Return on equity %6 % 16. Earnings per share $ $ 17. Payout ratio % 96