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Condensed balance sheet and income statement data for Flounder Corporation are presented here. FLOUNDER CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 33,000

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

FLOUNDER CORPORATION Balance Sheets December 31

2022

2021

2020

Cash

$ 33,000

$ 23,000

$ 21,000

Accounts receivable (net)

53,000

48,000

51,000

Other current assets

92,000

97,000

66,000

Investments

57,000

72,000

47,000

Plant and equipment (net)

500,000

370,000

358,000

$735,000

$610,000

$543,000

Current liabilities

$ 88,000

$ 83,000

$ 73,000

Long-term debt

147,000

87,000

52,000

Common stock, $10 par

322,000

312,000

302,000

Retained earnings

178,000

128,000

116,000

$735,000

$610,000

$543,000

FLOUNDER CORPORATION Income Statements For the Years Ended December 31

2022

2021

Sales revenue

$742,000

$602,000

Less: Sales returns and allowances

43,000

33,000

Net sales

699,000

569,000

Cost of goods sold

427,000

352,000

Gross profit

272,000

217,000

Operating expenses (including income taxes)

183,000

153,000

Net income

$ 89,000

$ 64,000

Additional information:

1. The market price of Flounders common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively.
2. You must compute dividends paid. All dividends were paid in cash.

Compute the following ratios for 2021 and 2022.

2022

2021

Profit margin

enter percentages

% enter percentages

% (Round answers to 1 decimal place, e.g. 1.5%.)

Gross profit rate

enter percentages

% enter percentages

% (Round answers to 1 decimal place, e.g. 1.5%.)

Asset turnover

enter asset turnover in times

times enter asset turnover in times

times (Round answers to 2 decimal places, e.g. 1.83.)

Earnings per share

$enter earnings per share in dollars

$enter earnings per share in dollars

(Round answers to 2 decimal places, e.g. 1.83.)

Price-earnings ratio

enter price-earnings ratio in times

times enter price-earnings ratio in times

times (Round answers to 1 decimal place, e.g. 1.5.)

Payout ratio

enter percentages

% enter percentages

% (Round answers to 0 decimal places, e.g. 15%.)

Debt to assets ratio

enter percentages

% enter percentages

% (Round answers to 0 decimal places, e.g. 15%.)

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