Cullumber Company Balance Sheets December 31
Assets		2022			2021
Cash		$ 102,200			$ 94,900
Debt investments (short-term)		80,300			58,400
Accounts receivable (net)		151,840			131,400
Inventory		335,800			240,900
Prepaid expenses		36,500			33,580
Land		189,800			189,800
Building and equipment (net)		379,600			270,100
Total assets		$1,276,040			$1,019,080
Liabilities and Stockholders Equity
Notes payable (current)		$248,200			$175,200
Accounts payable		94,900			75,920
Accrued liabilities		58,400			58,400
Bonds payable, due 2025		365,000			248,200
Common stock, $10 par		292,000			292,000
Retained earnings		217,540			169,360
Total liabilities and stockholders equity		$1,276,040			$1,019,080

The following are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2022, and (2) as of December 31, 2023, after giving effect to the situation. (Round debt to assets ratio to O decimal places, e.g. 15% and other answers to 1 decimal place, e.g. 6.8 or 6.8%.) Situation Ratio (1) Return on common stockholders' equity (2) Debt to assets ratio 26,280 shares of common stock were sold at par on July 1, 2023. Net income for 2023 was $78,840, and there were no dividends. All of the notes payable were paid in 2023. All other liabilities remained at their December 31, 2022, levels. At December 31, 2023, total assets were $1,314,000. The market price of common stock was $13 and $18 on December 31, 2022 and 2023, respectively. Net income for 2023 was $78,840. (Use a simple average calculation for EPS.) (3) Price-earnings ratio 2022 2023 Return on common stockholders' equity % % Debt to assets ratio % % Price-earnings ratio times times