LANDWEHR CORPORATION Balance Sheets December 31 Cash $ 7,800 $ 8,700 $ 5,500 Accounts receivable (net) 50,000 43,500 46,500 Other current assets 90,000 92,000 67,000 Investments 74,500 68,400 45,000 Plant and equipment (net) 422,000 392,000 380,000 $644,300 $604,600 $544,000 Current liabilities $74,500 $81,500 $70,000 Long-term debt 80,800 86,100 56,000 Common stock, $10 par 340,000 310,000 300,000 Retained earnings 149,000 127,000 118,000 $644,300 $604,600 $544,000 LANDWEHR CORPORATION Income Statement For the Years Ended December 31 Sales revenue $740,000 Less: Sales returns and allowances 40,000 Net sales 700,000 Cost of goods sold 420,000 Gross profit 280,000 Operating expenses (including income taxes) 235,000 Net income $ 45,000 $700,000 50,000 650,000 400,000 250,000 220,000 $ 30,000 Additional information: 1. The market price of Landwehr's common stock was $4, $5, and $8 for 2016, 2017, and 2018, respectively. 2. All dividends were paid in cash. (3) Compute the following ratios for 2017 and 2018. (Round Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) (1) Prot margin (2) Asset turnover (3) Earnings per share. (Weighted-average common shares in 2018 were 32,000 and in 2017 were 31,000.) (4) Price-ea rnings ratio (5) Payout ratio (6) Debt to assets ratio