Condensed balance sheet and income statement data for Bridgeport Corporation are presented here. BRIDGEPORT CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $32,000 $22,000 $20,000 Accounts receivable (net) 52,000 47,000 50,000 Other current assets 93,000 98,000 67,000 Investments 58,000 73,000 48,000 Plant and equipment (net) 500,000 370,000 358,000 $735,000 $610,000 $543,000 Current liabilities $87,000 $82,000 $72,000 Long-term debt 148,000 88,000 53,000 Common stock, $10 par 323,000 313,000 303,000 Retained earnings 177,000 127,000 115,000 $735,000 $610,000 $543,000 BRIDGEPORT CORPORATION Income Statements For the Years Ended December 31 2022 2021 Sales revenue $743,000 $603,000 Less: Sales returns and allowances 42.000 32,000 Net sales 701,000 571,000 Cost of goods sold 428,000 353,000 Gross profit 273,000 218,000 Operating expenses (including income taxes) 182,000 152,000 Net income $91,000 $66,000 Additional information: Sales revenue $743,000 3603,000 Less: Sales returns and allowances 42,000 32,000 Net sales 701,000 571,000 Cost of goods sold 428,000 353,000 Gross profit 273,000 218,000 Operating expenses (including income taxes) 182,000 152,000 Net income $91,000 $66,000 Additional information: 1. 2 The market price of Bridgeport's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2021 and 2022. (Round profit margin, gross profit rate and price-earnings ratio to 1 decimal places, e.g. 1.8 or 1.8%. Round asset turnover and earnings per share to 2 decimal places, eg. 1.25. Round payout ratio and debt to assets ratio to O decimal places, e.g. 25%) Profit margin 2022 13 % 2021 116 % Gross profit rate 38.9 % 38.2 % Asset turnover 1.04 times 99 times Earnings per share 2.82 $ 211 Price-earnings ratio 3 times 3.6 timest Payout ratio 45 % 82 % Debt to assets ratio 32 % 28 %