Current Attempt in Progress The following are financial statements of Crane Company. CraneCompany Income Statement For the Year Ended December 31, 2022 Net sales $2,235,700 Cost of goods sold 1,026,100 Selling and administrative expenses 920,000 Interest expense 92,200 Income tax expense 70,180 Net income $127,220 Crane Company Balance Sheet December 31, 2022 Assets Current assets Cash Debt investments Accounts receivable (net) Inventory Total current assets $111,720 85,180 182,100 155,700 534,700 $111.720 85,180 182,100 155,700 Crane Company Balance Sheet December 31, 2022 Assets Current assets Cash Debt investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 534.700 589,000 $1,123,700 $177,200 36,680 213,880 212.300 426,180 363,700 333,820 697,520 $1,123,700 Stockholders equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 363,700 333,820 697,520 $1.123,700 (a) Compute the following values and ratios for 2022. (We provide the results from 2021 for comparative purposes.) (Round Current Ratio to 2 decimal places, e.g. 15.25 and Debt to assets ratio to 1 decimal place, c.8. 78.9%) 1. $ :1 2. Working capital. (2021: $160,500) Current ratio. (2021: 1.65:1) Debt to assets ratio. (2021: 31.0%) % 3. e Textbook and Media Attempts: 0 of 5 used Submit Answer Save for Later