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Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers

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Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 12.6%.) (a) Current ratio. (b) Inventory turnover. (Inventory on 12/31/20 was $390.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/20 were $2,420.) (e) Return on common stockholders' equity. (Stockholders' equity on 12/31/20 was $990.) (f) Debt to assets ratio. (g) Times interest earned. SHERIDAN COMPANY Income Statements For the Year Ended December 31 2022 2021 $3,930 $3,590 Sales revenue Costs and expenses Cost of goods sold 985 920 Selling & administrative expenses 2,400 2,330 Interest expense 25 20 Total costs and expenses 3,410 3,270 Income before income taxes 520 320 Income tax expense 156 96 Net income $364 $224 Balance Sheets December 31 2022 2021 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 500 430 Inventory 590 520 Prepaid expenses 120 160 Total current assets 1,540 1,470 Investments 40 40 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2,530 $2,400 Current liabilities $930 $820 Long-term liabilities 540 510 Stockholders' equity-common 1,060 1,070 Total liabilities and stockholders' equity $2,530 $2,400

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