Condensed balance sheet and income statement data for Crane Corporation are presented here. Crane Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 16,700 $ 18,300 $ 30,000 50,500 Accounts receivable (net) 44,800 48,000 Other current assets 89,500 94,100 63,900 Investments 55,600 69.300 45,600 Property, plant, and equipment (net) 499,000 369,200 357,700 $724,600 $594,100 $533,500 $84.100 $80,200 $69.800 50,500 144.200 84,400 Current liabilities Long-term debt Common stock, $10 par Retained earnings 384.000 310.000 305,000 112,300 119.500 108,200 $724,600 $594,100 $533,500 Crane Corporation Income Statement For the Years Ended December 31 2022 2021 Sales $735,000 $605,000 Less: Sales returns and allowances 40,000 29,800 695,000 575,200 425,200 366,500 Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income 269,800 208,700 179,450 145,428 $ 90,350 $63,272 Additional information: 1. The market price of Crane's common stock was $7.00, $7.50 and $8.50 for 2020, 2021, and 2022, respectively. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration. 2. (a) Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings per share to 2 decimal places, eg. 1.65. Round payout ratio and debt to assets ratio to decimal places, eg. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (a) Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings per share to 2 decimal places, eg. 1.65. Round payout ratio and debt to assets ratio to decimal places, eg. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) 2021 2022 (1) Profit margin se % (2) ) Gross profit rate % % (3) Asset turnover times times (4) Earnings per share $ $ (5) 5) Price-earnings ratio times times (6) Payout ratio % % (7) Debt to assets ratio % e Textbook and Media