Lily Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1.810.600 $1.752,800 Cost of goods sold 1.010.100 994.000 Gross profit 800.500 758.800 Selling and administrative expenses 520.200 475.800 Income from operations 280.300 283.000 Other expenses and losses Interest expense 17,400 13,400 Income before income taxes 262.900 269.600 Income tax expense 79.444 77,100 Net income $ 183,456 $ 192,500 Lily Company Balance Sheets December 31 Assets 2022 2021 Current assets Cash $59,800 $63,800 Debt investments (short-term) 68,900 50.000 Accounts receivable (net) 117,600 101,300 Inventory 122.500 115,400 Total current assets 368.800 330,500 Plant assets (net) 598,300 521.100 Total assets $967,100 $851,600 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159.000 $146,000 Income taxes payable 43.100 41.000 Total current liabilities 202,100 187.000 Bonds payable 220,000 200.000 Total liabilities 422.100 387.000 Stockholders' equity Common stock ($5 par) 275,000 298.300 Retained earnings 270,000 166,300 Total stockholders' equity 545,000 464,600 Total liabilities and stockholders' equity $967,100 $851,600 All sales were on credit. Net cash provided by operating activities for 2022 was $209.000. Capital expenditures were $125,000, and cash dividends paid were $79,756. Compute the following ratios for 2022. (Round Earnings per share, Current ratio and Asset turnover to 2 decimal places, eg. 1.65 or 1.65:1, and all other answers to 1 decimal place, e.g. 6.8 or 6.8%. Use 365 days for calculation.) (a) Earnings per share 3.34 (b) Return on common stockholders' equity 36.34 % (c) Return on assets 30.81 % (d) Current ratio 1.82 :1 le) Accounts receivable turnover 1.22 times (1) Average collection period 16.54 days (g) Inventory turnover 8.49 times (h) Days in inventory days (0) Times interest earned 16.11 times c) Asset turnover 1.87 times (k) Debt to assets ratio 41.12 % (1) Free cash flow