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Condensed balance sheet and income statement data for Pronghorn Corporation appear below: PRONGHORN CORPORATION Balance Sheet December 31 2021 2020 2019 Cash $ 30,000 $

Condensed balance sheet and income statement data for Pronghorn Corporation appear below:

PRONGHORN CORPORATION Balance Sheet December 31

2021

2020

2019

Cash

$ 30,000

$ 22,000

$ 18,500

Accounts receivable

50,000

47,500

50,000

Other current assets

93,000

97,000

65,500

Property, plant, and equipment (net)

528,500

479,000

396,000

$701,500

$645,500

$530,000

Current liabilities

$ 69,000

$ 75,500

$ 69,000

Long-term debt

75,500

80,500

41,000

Common shares

301,000

292,000

281,000

Retained earnings

256,000

197,500

139,000

$701,500

$645,500

$530,000

PRONGHORN CORPORATION Income Statement For the Years Ended December 31

2021

2020

Sales revenue

$781,000

$732,000

Less: Sales returns and allowances

36,500

52,500

Net sales

744,500

679,500

Cost of goods sold

418,000

385,000

Gross profit

326,500

294,500

Operating expenses (including income taxes)

217,000

223,000

Profit

$ 109,500

$ 71,500

Additional information:

1. The market price of Pronghorns common shares was $5.00, $6.00, and $9.00 for 2019, 2020, and 2021, respectively.
2. All dividends were paid in cash.
3. Weighted-average common shares were 32,500 in 2021 and 28,000 in 2020.

Compute the following ratios for 2020 and 2021. (Round asset turnover, earnings per share and price earning ratio answers to 2 decimal places, e.g. 1.83 or 1.83% and all other answers to 1 decimal place e.g. 1.5%.)

2021

2020

Profit margin % %
Asset turnover times times
Earnings per share

$

$

Price-earnings ratio times times
Payout ratio % %
Debt to total assets % %
Gross profit margin % %

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Question Part Score

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Based on the ratios calculated, indicate the improvement or lack thereof in Pronghorn Corporations financial position and operating results from 2020 to 2021.

Based on the ratios calculated, Pronghorn Corporations financial position and operating results from 2020 to 2021 is weakenedimproved

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