Exercise 11-20 a-c Crane Company has $1,140,000 in assets and $1,140,000 in stockholders equity, with 36,600 shares outstanding the entire year. It has a return on assets of 15%. During 2021, it had net income of $171,000. On January 1, 2022, it issued $397,000 in debt at 6% and immediately repurchased 18,300 shares for $397,000. Management expected that, had it not issued the debt, it would have had net income of $171,000 in 2022.

Determine the companys net income and earnings per share for 2021 and 2022. (Ignore taxes in your computations.) (Round earnings per share to 2 decimal places, e.g. $2.66.)

		2021		2022
Net income		$enter net income in dollars		$enter net income in dollars
Earnings per share		$enter earnings per share in dollars rounded to 2 decimal places		$enter earnings per share in dollars rounded to 2 decimal places

Compute the companys return on common stockholders equity for 2021 and 2022. (Round answers to 2 decimal places, e.g. 15.25%)

		2021			2022
Return on common stockholders equity		enter return on common stockholders equity ratio in percentages rounded to 0 decimal places	%		enter return on common stockholders equity ratio in percentages rounded to 0 decimal places	%

Compute the companys debt to assets ratio for 2021 and 2022. (Round answers to 2 decimal places, e.g. 15.25%)

		2021		2022
Debt to assets ratio		enter debt to assets ratio in percentages rounded to 0 decimal places	%	enter debt to assets ratio in percentages rounded to 0 decimal places	%