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

Additional information:

1.		The allowance for doubtful accounts was $4,800 in 2019, $4,600 in 2020, and $5,000 in 2021.
2.		All sales were credit sales.
3.		Net cash provided by operating activities was $119,100 in 2020 and $101,900 in 2021.
4.		Net capital expenditures were $150,000 for 2020 and $179,000 for 2021.

2019 SIPACORE CORPORATION Statement of Financial Position December 31 2021 2020 Assets Current assets Cash $24.800 $19,900 Accounts receivable (net) 54,900 45,400 Inventory 99,300 85,400 Total current assets 179,000 150,700 Long-term investments 60,200 74,300 Property, plant, and equipment (net) 499,000 368,100 Total assets $738,200 $593,100 Liabilities and Shareholders' Equity Liabilities Current liabilities $85,300 $80,400 Non-current liabilities 156,100 85,700 Total liabilities 241,400 166,100 Shareholders' equity Common shares 332.200 301,700 Retained earnings 164,600 125,300 Total shareholders' equity 496,800 427,000 Total liabilities and shareholders' equity $738,200 $593,100 $18,200 47,900 64,000 130,100 42,400 260,600 $433,100 $29,900 19,900 49,800 299,800 83,500 383,300 $433,100 2020 SIPACORE CORPORATION Statement of Income Year Ended December 31 2021 Sales 695,400 Cost of goods sold 448,700 Gross profit 246,700 Operating expenses 148,500 Income from operations 98,200 Interest expense 9,900 Income before income tax 88,300 Income tax expense 17,660 Net income $70,640 450,400 300,400 150,000 83,300 66,700 4,380 62,320 12,464 $49,856 (a) Your answer is partially correct. Calculate the following ratios for 2020 and 2021: (Round answers to 1 decimal place, e.g. 5.2:1 or 5.2% or 5.2. Enter negative answers preceeding either - sign, eg. -45 or in parentheses, eg: (45).) 2021 2020 2.1 1.9 1. Current ratio 1 12.7 2. Receivables turnover times times 4.9 times 4.0 3. Inventory turnover times 32.7 4. 28 % % 9.9 15.2 times times 6. $ Debt to total assets 5. Times interest earned 6. Free cash flow 7. Gross profit margin 8. Profit margin 35.5 33.3 % 10.2 11.1 % 9. 1 0.9 Asset turnover times times 10.6 10. 9.7 Return on assets % %