Problem 13-03A a (Video) Condensed balance sheet and income statement data for Ayayai Corporation are presented here. Ayayai Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 31,000 51,000 92,000 57,000 500,000 $731,000 $ 86,000 147,000 322,000 176,000 $731,000 $ 21,000 46,000 97,000 72,000 370,000 $606,000 $ 81,000 87,000 312,000 126,000 $606,000 $ 19,000 49,000 66,000 47,000 358,000 $539,000 $ 71,000 52,000 302,000 114,000 $539,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings Ayayai Corporation Income Statements For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit 2020 $742,000 41,000 701,000 427,000 2019 $602,000 31,000 571,000 352,000 219,000 274,000 TIICOTTesldtereits For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales 2020 $742,000 41,000 701,000 427,000 2019 $602,000 31,000 571,000 352,000 219,000 151,000 $ 68,000 Cost of goods sold Gross profit Operating expenses (including income taxes) Net income 274,000 181,000 $ 93,000 Additional information: The market price of Ayayai's common stock was $7.00, $7.50, and $8.50 for 2018, You must compute dividends paid. All dividends were paid in cash. 2. (a) Compute the following ratios for 2019 and 2020. (Round answers to 2 decimal places, 2020 2019 Profit margin % Gross profit rate % % Asset turnover times times Earnings per share S $ Price-earnings ratio times times Payout ratio Operating expenses (including income taxes) 181,000 $ 93,000 151,000 $ 68,000 Net income Additional information: 1. The market price of Ayayai's common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively You must compute dividends paid. All dividends were paid in cash. 2. (a) Compute the following ratios for 2019 and 2020. (Round answers to 2 decimal places, e.g. 1.83 or 1.83%.) 2020 2019 Profit margin % % Gross profit rate % Asset turnover times times Earnings per share $ $ Price-earnings ratio times times Payout ratio % % Debt to assets ratio % %