I need help with this practice assignment along with everything it is asking. Thanks.

Name: Course: Date: P14-3 - Perform ratio analysis and evalute financial position and operating results Managerial Accounting, 6th Edition, by Weygandt, Kieso, and Kimmel Primer on Using Microsoft Excel in Accounting by Rex A Schildhouse Problem P14-3 Condensed balance sheet and income statement data for Clarence Corporation appear below: CLARENCE CORPORATION Balance Sheets December 31 2014 2013 2012 Cash $25,000 $20,000 $18,000 Receivables (net) 50,000 45,000 48,000 Other current assets 90,000 95,000 64,000 Investments 75,000 70,000 45,000 Plant and equipment (net) 400,000 358,000 $640,000 Current liabilities 370,000 $600,000 $533,000 70,000 75,000 70,000 Long-term debt Common stock, $10 par 80,000 345,000 85,000 315,000 50,000 300,000 Retained earnings 145,000 125,000 113,000 $640,000 $600,000 $533,000 2014 $740,000 2013 $700,000 40,000 60,000 Net sales 700,000 640,000 Cost of goods sold 420,000 400,000 Gross profit 280,000 240,000 Operating expenses (including income taxes) 238,000 208,000 Net income $42,000 $32,000 CLARENCE CORPORATION Income Statement For the Year Ended December 31 Sales revenue Less: Sales returns and allowances Additional information: 1. The market price of Clarence's common stock was for 2012, 2013, and 2014, respectively. $4.00 $5.00 and $8.00 2. All dividends were paid in cash. Instructions: (a) Compute the following ratios for 2013 and 2014. (a) (1) Profit margin. 2013 2014 (a) (2) Asset turnover. 2013 2014 = = = times = times (a) (3) Earnings per share. (Weighted average common shares in 2014 were 31,000 2013 32,000 and in 2013 were = 2014 (a) (4) Price-earnings. 2013 2014 (a) (5) Payout. 2013 2014 = = times = times = = (a) (6) Debt to total assets. 2013 2014 = = (b) Based on the ratios calculated, discuss briefly the improvement or lack thereof in financial position and operating results from 2013 to 2014 of Clarence Corporation