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Condensed balance sheet and income statement data for Blossom Corporation are presented here. Blossom Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 29,000

Condensed balance sheet and income statement data for Blossom Corporation are presented here. Blossom Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 29,000 $ 16,000 $ 17,000 Accounts receivable (net) 49,000 44,000 47,000 Other current assets 89,000 94,000 63,000 Investments 54,000 69,000 44,000 Property, plant, and equipment (net) 499,000 369,000 357,000 $720,000 $592,000 $528,000 Current liabilities $84,000 $79,000 $69,000 Long-term debt 144,000 84,000 49,000 Common stock, $10 par 315,000 309,000 295,000 Retained earnings 177,000 120,000 115,000 $720,000 $592,000 $528,000 Blossom Corporation Income Statement For the Years Ended December 31 2022 2021 Sales $735,000 $605,000 Less: Sales returns and allowances 39,000 29,000 Net sales 696,000 576,000 Cost of goods sold 426,000 365,000 Gross profit 270,000 211,000 Operating expenses (including income taxes) 179,520 147,640 Net income $ 90,480 $ 63,360 Additional information: 1. The market price of Blossoms common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. 2. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration.

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Condensed balance sheet and income statement data for Blossom Corporation are presented here. Blossom Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 29,000 $ 16,000 $ 17,000 Accounts receivable (net) 49,000 44.000 47,000 Other current assets 89,000 94,000 63,000 Investments 54,000 69,000 44,000 Property, plant, and equipment (net) 499,000 369,000 357,000 $720,000 $592,000 $528,000 Current liabilities $84,000 $79,000 $69,000 Long-term debt 144,000 84,000 49,000 Common stock, $10 par 315,000 309,000 295,000 Retained earnings 177,000 120,000 115,000 $720,000 $592,000 $528,000 Blossom Corporation Income Statement For the Years Ended December 31 2022 2021 Sales $735,000 $605,000 Less: Sales returns and allowances 39,000 29,000 Net sales 696,000 576,000 Cost of goods sold 426,000 365,000 Gross profit 270,000 211,000 Operating expenses (including income taxes) 179,520 147,640 Net income $ 90,480 $ 63,360 Additional information: 1. The market price of Blossom's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. 2. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration. (a) Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) 2021 2022 (1) Profit margin 11 % 13 % ( (2) Gross profit rate 36.63 % 38.79 % (3) Asset turnover times 0.88 times (4) Earnings per share $ 2.93 $ 42.24 () (5) Price-earnings ratio 3.7 times 2.9 times (6) Payout ratio 94 % 10 % (7) Debt to assets ratio 28 % 32 %

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