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Condensed balance sheet and income statement data for Bonita Corporation are presented here. Bonita Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 30,500

Condensed balance sheet and income statement data for Bonita Corporation are presented here.

Bonita Corporation Balance Sheets December 31

2022

2021

2020

Cash

$ 30,500 $ 17,800 $ 17,700

Accounts receivable (net)

50,400 45,200 48,800

Other current assets

89,300 96,000 65,000

Investments

55,400 70,000 45,800

Property, plant, and equipment (net)

499,100 369,200 358,400
$724,700 $598,200 $535,700

Current liabilities

$85,200 $79,300 $70,600

Long-term debt

145,300 84,500 50,700

Common stock, $10 par

330,000 316,000 310,000

Retained earnings

164,200 118,400 104,400
$724,700 $598,200 $535,700

Bonita Corporation Income Statements For the Years Ended December 31

2022

2021

Sales

$736,500 $606,500

Less: Sales returns and allowances

39,400 29,300

Net sales

697,100 577,200

Cost of goods sold

427,200 373,000

Gross profit

269,900 204,200

Operating expenses (including income taxes)

179,277 152,252

Net income

$ 90,623 $ 51,948

Additional information:

1. The market price of Jergans 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%.)

2022

2021

(1)

Profit margin

enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %

(2)

Gross profit rate

enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %

(3)

Asset turnover

enter a number of times rounded to 2 decimal places times enter a number of times rounded to 2 decimal places times

(4)

Earnings per share

$enter a dollar amount rounded to 2 decimal places $enter a dollar amount rounded to 2 decimal places

(5)

Price-earnings ratio

enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times

(6)

Payout ratio

enter percentages rounded to 0 decimal places % enter percentages rounded to 0 decimal places %

(7)

Debt to assets ratio

enter percentages rounded to 0 decimal places % enter percentages rounded to 0 decimal places %

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