Problem 13-031 Condensed balance sheet and income statement data for Sheffield Corporation are presented here. ENT ES ignment2 m 13-04A m 13-03 em 13-02A d Your Critical 13-04 ad Your Critical ng 13-03 Exercise 13-01 Exercise 13-02 Exercise 13-04 Exercise 13-05 Exercise 13-06 Exercise 13-02 Exercise 13-08 Level ission) SHEFFIELD CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 94,000 99,000 Investments 59,000 74,000 Plant and equipment (net) 500,000 370,000 $737,000 $612,000 Current liabilities $ 87,000 $82,000 Long-term debt 149,000 89,000 Common stock, $10 par 324,000 314,000 Retained earnings 177,000 127,000 $737,000 $612,000 2020 $ 20,000 50,000 68,000 49,000 358,000 $545,000 $ 72,000 54,000 304,000 115,000 $545,000 Score Results by bjective SHEFFIELD CORPORATION Income Statements For the Years Ended December 31 2022 Sales revenue $744,000 42.000 Less: Sales returns and allowances Net sales 702,000 Cost of goods sold 429,000 Gross profit 273,000 Operating expenses (including income taxes) 182,000 Net income $ 91,000 2021 $604,000 32,000 572,000 354,000 218,000 152,000 $ 66,000 Additional information: SHEFFIELD CORPORATION Income Statements For the Years Ended December 31 2022 Sales revenue $744,000 Less: Sales returns and allowances 42,000 Net sales 702,000 Cost of goods sold 429,000 Gross profit 273,000 Operating expenses (including income taxes) 182,000 Net income $ 91,000 2021 $604,000 32,000 572,000 354,000 218,000 152,000 $ 66,000 Additional information: 1. The market price of Sheffield's common stock was $7.00, $7.50, and $8.50 for 2020, 2021, and 2022, respectively. 2. You must compute dividends paid. All dividends were paid in cash. Compute the following ratios for 2021 and 2022. 2022 2021 Profit margin % (Round answers to 1 decimal place, e.g. 1.5%.) Gross profit rate (Round answers to 1 decimal place, e.g. 1.5%.) Asset turnover times times(Round answers to 2 decimal places, e.g. 1.83.) Earnings per share (Round answers to 2 decimal places, e.g. 1.83.) times Price-earnings ratio times(Round answers to 1 decimal place, e.g. 1.5.) (Round answers to o decimal places, e.g. 1596.) Payout ratio (Round answers to o decimal places, e.g. 1596.) Debt to assets ratio