COOKIE & COFFEE CREATIONS INC. Balance Sheet October 31
Assets		2023			2022
Cash		$29,074			$11,550
Accounts receivable		3,250			2,710
Inventory		7,897			7,450
Prepaid expenses		5,800			6,050
Equipment		102,000			75,500
Accumulated depreciation		(25,200	)		(9,100	)
Total assets		$122,821			$94,160
Liabilities and Stockholders Equity
Accounts payable		$1,150			$2,450
Income taxes payable		9,251			7,200
Dividends payable		27,000			27,000
Salaries and wages payable		7,250			1,280
Interest payable		188			0
Note payablecurrent portion		4,000			0
Note payablelong-term portion		6,000			0
Preferred stock, no par, $6 cumulative 3,000 and 2,800 shares issued, respectively		15,000			14,000
Common stock, $1 par25,930 shares issued		25,930			25,930
Additional paid in capitaltreasury stock		250			0
Retained earnings		26,802			16,800
Less treasury stock		0			(500)
Total liabilities and stockholders equity		$122,821			$94,160

COOKIE & COFFEE CREATIONS INC. Income Statement Year Ended October 31
		2023		2022
Sales		$485,625		$462,500
Cost of goods sold		222,694		208,125
Gross profit		262,931		254,375
Operating expenses
Salaries and wages expense		147,979		146,350
Depreciation expense		17,600		9,100
Other operating expenses		48,186		42,925
Total operating expenses		213,765		198,375
Income from operations		49,166		56,000
Other expenses
Interest expense		413		0
Loss on disposal of plant assets		2,500		0
Total other expenses		2,913		0
Income before income tax		46,253		56,000
Income tax expense		9,251		14,000
Net income		$37,002		$42,000

Additional information: Natalie and Curtis are thinking about borrowing an additional $20,000 to buy more kitchen equipment. The loan would be repaid over a 4-year period. The terms of the loan provide for equal semi-annual payments of $2,500 on May 1 and November 1 of each year, plus interest of 5% on the outstanding balance.

Calculate the following ratios for 2022 and 2023. (Round current ratio to 2 decimal places, e.g. 12.61, debt to assets and gross profit rate to 0 decimal places, e.g. 12 and all other answers to 1 decimal place, e.g. 12.6%.)

			2023			2022
1.	Current ratio		Enter current ratio rounded to 2 decimal places	:1		Enter current ratio rounded to 2 decimal places	:1
2.	Debt to assets		Enter percentages rounded to the nearest whole	%		Enter percentages rounded to the nearest whole	%
3.	Gross profit rate		Enter percentages rounded to the nearest whole	%		Enter percentages rounded to the nearest whole	%
4.	Profit margin		Enter percentages rounded to one decimal place	%		Enter percentages rounded to one decimal place	%
5.	Return on assets (Total assets at November 1, 2021, were $35,180.)		Enter percentages rounded to one decimal place	%		Enter percentages rounded to one decimal place	%
6.	Return on common stockholders equity (Total common stockholders equity at November 1, 2021, was $25,180. Dividends on preferred stock were $16,800 in 2022 and $18,000 in 2023).		Enter percentages rounded to one decimal place	%		Enter percentages rounded to one decimal place	%