Problem 13-02A The comparative statements of Cullumber Company are presented here. CULLUMBER COMPANY Income Statements For the Years Ended December 31 2022 Net sales $2,400,400 Cost of goods sold 1,327,000 Gross profit 1,073,400 Selling and administrative expenses 650,000 Income from operations 423,400 Other expenses and losses Interest expense 28,600 Income before income taxes 394,800 Income tax expense 118,440 Net income $ 276,360 2021 $2,240,000 1,307,800 932,200 622,700 309,500 26,000 283,500 85,050 $ 198,450 2021 $ 83,460 65,000 133,640 150,150 CULLUMBER COMPANY Balance Sheets December 31 Assets 2022 _ Current assets Cash $ 78,130 Debt investments (short-term) 96,200 Accounts receivable 153,140 Inventory 163,800 Total current assets 491,270 Plant assets (net) 843,700 Total assets $1,334,970 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 208,000 Income taxes payable 56,550 Total current liabilities 264,550 Bonds payable 286,000 Total liabilities 550,550 Stockholders' equity Common stock ($5 par) 377,000 432,250 676,390 $1,108,640 $189,020 54,600 243,620 260,000 503,620 390,000 407,420 215,020 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 784,420 $1,334,970 605,020 $1,108,640 All sales were on account. Net cash provided by operating activities for 2022 was $286,000. Capital expenditures were $176,800, and cash dividends were $83,960. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.) (a) Earnings per share (b) Return on common stockholders' equity (c) Return on assets (d) Current ratio (e) Accounts receivable turnover times (f) Average collection period days (9) Inventory turnover times (h) Days in inventory days (0) Times interest earned times times 6) Asset turnover (k) Debt to assets ratio (1) Free cash flow Click if you would like to Show Work for this question: Open Show Work