Condensed statements of financial position and statement of income data for Uli Corporation follow:

Assets 2021 2020 2019

Current assets

Cash $25,200 $20,200 $18,000

Accounts receivable (net) 54,900 45,000 47,600

Inventory 101,000 84,900 64,100

Total current assets 181,100 150,100 129,700

Long-term investments 54,600 66,900 44,800

Property, plant,equipment(net) 501,900 373,200 255,700

Total assets $737,600 $590,200 $430,200

Liabilities and Shareholders' Equity

Liabilities

Current liabilities $84,100 $80,700 $29,900

Non-current liabilities 155,500 85,900 19,800

Total liabilities 239,600 166,600 49,700

Shareholders' equity

Common shares 331,800 299,300 298,300

Retained earnings 166,200 124,300 82,200

Total shareholders' equity 498,000 423,600 380,500

Total liabilities, shareholders' equity $737,600 $590,200 430,200

2021 2020

Sales 698,200 447,500

Cost of goods sold 448,100 299,400

Gross profit 250,100 148,100

Operating expenses 151,300 84,400

Income from operations 98,800 63,700

Interest expense 9,900 4,380

Income before income tax 88,900 59,320

Income tax expense 17,780 11,864

Net income $71,120 $47,456

Additional information:

1.The allowance for doubtful accounts was $4,800 in 2019, $4,600 in 2020, and $5,100 in 2021

.2.All sales were credit sales.

3.Net cash provided by operating activities was $120,100 in 2020 and $101,900 in 2021.

4.Net capital expenditures were $148,100 for 2020 and $181,100 for 2021.

Condensed statements of financial position and statement of income data for Uli Corporation follow: ULI CORPORATION Statement of Financial Position December 31 2021 2020 2019 Assets Current assets Cash $25,200 $20,200 $18,000 Accounts receivable (net) 54,900 45,000 47,600 Inventory 101,000 84,900 64,100 Total current assets 181,100 150,100 129,700 Long-term investments 54,600 66,900 44.800 Property, plant, and equipment (net) 501,900 373,200 255,700 Total assets $737,600 $590,200 $430,200 Liabilities and Shareholders' Equity Liabilities Current liabilities $84,100 $80,700 $29,900 Non-current liabilities 155,500 85,900 19,800 Total liabilities 239,600 166,600 49,700 Shareholders' equity Common shares 331,800 299,300 298,300 Retained earnings 166,200 124,300 82,200 Total shareholders' equity 498,000 423,600 380,500 Total liabilities and shareholders' equity $737,600 $590,200 $430,200 ULI CORPORATIONCalculate the following ratios for 2017 and 2016: (Round answers to 1 decimal place, e.g. 5.2:1 or 5.2% or 5.2. Enter negative answers preceeding either 2018 2017 1. Current ratio : 1 2. Receivables turnover times times 3. Inventory turnover times times 4. Debt to total assets 5. Times interest earned times times 6. Free cash flow 7. Gross profit margin 8. Profit margin 9. Asset turnover times times 10. Return on assets Identify whether each ratio calculated in the above part was better, worse, or unchanged between 2017 and 2018. 1. Current ratio 2. Receivables turnover 3. Inventory turnover 4. Debt to total assets 5. Times interest earnedIdentify whether each ratio calculated in the above part was better, worse, or unchanged between 2017 and 2018. 1. Current ratio 2. Receivables turnover 3. Inventory turnover 4. Debt to total assets 5. Times interest earned 6. Free cash flow 7. Gross profit margin 6. Profit margin 9. Asset turnover 10. Return on assets Indicate whether overall (1) liquidity, (2) solvency, and (3) profitability improved, deteriorated, or remained the same between 2017 and 2018. (1) Liquidity (2) Solvency (3) ProfitabilityRetained earnings 166,200 124,300 82,200 Total shareholders' equity 498,000 423,600 380,500 Total liabilities and shareholders' equity $737,600 $590,200 $430,200 ULI CORPORATION Statement of Income Year Ended December 31 2021 2020 Sales 698,200 447,500 Cost of goods sold 448,100 299,400 Gross profit 250,100 148,100 Operating expenses 151,300 84,400 Income from operations 98,800 63,700 Interest expense 9,900 4,380 Income before income tax 88,900 59,320 Income tax expense 17,780 11,864 Net income $71,120 $47,456 Additional information: 1. The allowance for doubtful accounts was $4,800 in 2019, $4,600 in 2020, and $5,100 in 2021. 2 . All sales were credit sales. 3. Net cash provided by operating activities was $120,100 in 2020 and $101,900 in 2021. 4. Net capital expenditures were $148,100 for 2020 and $181,100 for 2021