CRANECOMPANY Comparative Balance Sheet December 31 Assets Cash Debt investments Accounts receivable (net) Inventory Property, plant and equipment (net) Total assets Liabilities and stockholders' equity Accounts payable Short-term notes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 2021 2020 $42,200 $53,000 33,000 73,000 63,000 43,000 153,000 183,000 191,900 213,000 $483,100 $565,000 $38,000 $43,000 53,000 103,000 88,000 173,000 173,000 158,000 131,100 88,000 $483,100 $565,000 CRANECOMPANY Income Statement For the Year Ended December 31, 2021 $24,000 43,000 33,000 Net sales (all on credit) Cost of goods sold Gross profit Expenses Interest expense Selling expenses Administrative expenses Total expenses Income before income taxes Income tax expense Net income $438,000 197,000 241,000 100,000 141,000 42,900 $98,100 Additional information: a. Cash dividends of $55,000 were declared and paid on common stock in 2021. b. The weighted-average number of shares of common stock outstanding during 2021 was 55,000. C. The market price of common stock on December 31, 2021, was $16 per share. d. Net cash provided by operating activities for 2021 was $83,000. Using the financial statements and additional information, compute the following ratios for the Crane Company for 2021. (Use 365 days for calculation. Round Inventory turnover answer to 2 decimal places, e.g. 52.72. Other all answers to 1 decimal place, e.g. 52.7.) 1. Current ratio :1 2. Return on common stockholders' equity % Price-earnings ratio times Inventory turnover :1 Accounts receivable turnover times Times interest earned times Profit margin % Days in inventory days Payout ratio % Return on assets % 3. 4. 5. 6. 7. 8. 9. 10