Current Attempt in Progress Condensed balance sheet and income statement data for Cullumber Corporation are presented here. Cullumber Corporation Balance Sheets December 31 2022 2021 2020 Cash $ 29,200 $ 16,100 $ 18,100 Accounts receivable (net) 50,400 45,600 48,100 Other current assets 90,700 94,900 63,200 Investments 54,700 70,400 45,100 Property, plant, and equipment (net) 499,800 370,600 358,700 $724,800 $597,600 $533,200 Current liabilities $84,900 $80,800 $69,600 Long-term debt 145,100 85,700 50,500 Common stock, $10 par 315,000 319,000 301,000 Retained earnings 179,800 112,100 112,100 $724,800 $597,600 $533,200 Cullumber Corporation Income Statement For the Years Ended December 31 2022 2021 aan torno Cullumber Corporation Income Statement For the Years Ended December 31 2022 2021 Sales $741,000 $606,200 Less: Sales returns and allowances 40,900 29,600 Net sales 700,100 576,600 Cost of goods sold 426,600 374,500 Gross profit 273,500 202,100 Operating expenses (including income taxes) 182,487 144,440 Net income $ 91,013 $ 57,660 Additional information: 1. The market price of Cullumber's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. 2. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration. (a) Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) 2021 2022 (1) Profit margin % % Additional information: 1. The market price of Cullumber's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. 2. You must compute dividends declared. All declared dividends were paid in cash in the year of declaration. (a) Compute the following ratios for 2021 and 2022. (Round Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) 2021 2022 (1) Profit margin % % (2) Gross profit rate % % (3) Asset turnover times times (4) Earnings per share $ (5) Price-earnings ratio times times (6) Payout ratio % % (7) Debt to assets ratio % % e Textbook and Media Save for Later Attempts: 0 of 3 used Submit