Condensed balance sheet and income statement data for Novak Corporation are presented here. NOVAK CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 93,000 98,000 Investments 58,000 73,000 Plant and equipment (net) 500,000 370,000 $735,000 $610,000 2020 $ 20,000 50,000 67,000 48,000 358,000 $543,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings $ 87,000 148,000 323,000 177,000 $735,000 $ 82,000 88,000 313,000 127,000 $610,000 $ 72,000 53,000 303,000 115,000 $543,000 2021 $603,000 NOVAK CORPORATION Income Statements For the Years Ended December 31 2022 Sales revenue $743,000 Less: Sales returns and allowances 42,000 Net sales 701,000 Cost of goods sold 428,000 Gross profit 273,000 Operating expenses (including income taxes) 182,000 32,000 571,000 353,000 218,000 152,000 Gross profit Operating expenses (including income taxes) Net income 273,000 182,000 $ 91,000 218,000 152,000 $ 66,000 Additional information: 1. The market price of Novak's 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 Gross profit rate Gross profit % - (Round answers to 1 decimal place, e.g. 1.5%.) (Round answers to 1 decimal place, e.g. 1.5%.) (Round answers to 2 timesdecimal places, e.g. 1.83.) (Round answers to 2 decimal places, e.g. 1.83.) Asset turnover times Earnings per share Price- earnings ratio times (Round answers to 1 times decimal place, e.g. 1.5.) Payout ratio (Round answers to O decimal places, e.g. 15%.) (Round answers to O decimal places, e.g. 15%.) Debt to assets ratio