Assets Cash Debt investments (short-term) WILDHORSE COMPANY Balance Sheets December 31 Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2025 Common stock, $10 par Retained earnings Total liabilities and stockholders equity 2022 $70,000 $68,000 51,000 40,000 2021 109,000 91,000 231,000 167,000 27,000 26,000 134,000 134,000 264,000 186,000 $886,000 $712,000 $171,000 $109,000 67,000 41,000 53,000 41,000 250,000 170,000 206,000 206,000 151,000 133,000 $886,000 $712,000 WILDHORSE COMPANY Income Statements For the Years Ended December 31 Sales revenue Cost of goods sold Gross profit Operating expenses Net income Additional information: 2021 $899,000 $798,000 2022 650,000 575,000 249,000 223,000 192,000 168,000 $57,000 $55,000 1. Inventory at the beginning of 2021 was $117,000. 2. Accounts receivable (net) at the beginning of 2021 were $90,000. 3. Total assets at the beginning of 2021 were $634,000. 4. No common stock transactions occurred during 2021 or 2022. 5. All sales were on account. WILDHORSE COMPANY Income Statements For the Years Ended December 31 Sales revenue Cost of goods sold Gross profit Operating expenses Net income Additional information: 2021 $899,000 $798,000 2022 650,000 575,000 249,000 223,000 192,000 168,000 $57,000 $55,000 1. Inventory at the beginning of 2021 was $117,000. 2. Accounts receivable (net) at the beginning of 2021 were $90,000. 3. Total assets at the beginning of 2021 were $634,000. 4. No common stock transactions occurred during 2021 or 2022. 5. All sales were on account. (a1) Compute the liquidity and profitability ratios of Wildhorse Company for 2021 and 2022. (Round Curent ratio, Asset turnover and Earnings per share to 2 decimal places, e.g. 15.50 and round all other answers to 1 decimal place, e.g. 15.5. Round % change to 0 decimal places, for e.g. 1% and if % change is a decrease show the numbers as negative, e.g. -1% or (1%).) LIQUIDITY Current ratio Accounts receivables turnover Inventory turnover PROFITABILITY Profit margin Asset turnover Return on assets Earnings per share $ 2021 2021 % times % $ :1 times times 2022 2022 % times % :1 times times % Change % Change % % % % % % %