Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock/paid-in surplus Accumulated retained earnings Total \begin{tabular}{rrr} $56,722 & & $62,582 \\ 29,008 & 36,200 \\ \hline$85,730 & & $98,782 \end{tabular} $165,000$185,000 $75,000307,217$382,217$75,000388,530.27$463,530.27 7. (1 point) Compute the company's asset turnover in 2023. Round to the nearest 0.01 . 8. (1 point) Compute the company's return on equity in 2023 . Round to the nearest 0.01% Use the following balance sheet and income statement to answer questions 2 through 15. Below is the balance sheet for 2022 and 2023 and the income statement for 2023 for some company. Use the information to answer the questions below