Problem 13-03A Your answer is partially correct. Try again. Condensed balance sheet and income statement data for Blue Corporation are presented here. BLUE CORPORATION Balance Sheets December 31 2022 2021 2020 Cash $ 31,000 $ 21,000 $ 19,000 Accounts receivable (net) 51,000 46,000 49,000 Other current assets 95,000 100,000 69,000 Investments 60,000 75,000 50,000 Plant and equipment (net) 500,000 370,000 358,000 $737,000 $612,000 $545,000 Current liabilities $ 86,000 $ 81,000 $ 71,000 Long-term debt 150,000 90,000 55,000 Common stock, $10 par 325,000 315,000 305,000 Retained earnings 176,000 126,000 114,000 $737,000 $612,000 $545,000 BLUE CORPORATION Income Statements For the Years Ended December 31 2022 Sales revenue $745,000 Less: Sales returns and allowances 41,000 Net sales 704,000 Cost of goods sold 430,000 Gross profit 274,000 Operating expenses (including income taxes) 181,000 Net income $ 93,00 2021 $605,000 31,000 574,000 355,000 219,000 151,000 $ 68,000 Additional information: 1. The market price of Blue'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. Compute the following ratios for 2021 and 2022. 2022 2021 Profit margin 13.2 % 11.8% (Round answers to 1 decimal place, e.g. 1.5%.) Gross profit rate 38.9% 38.2% (Round answers to 1 decimal place, e.g. 1.5%.) Asset turnover 1.04 times 0.99 times(Round answers to 2 decimal places, e.g. 1.83.) N Earnings per share 2.86 2.16 (Round answers to 2 decimal places, e.g. 1.83.) Price-earnings ratio 2.98 times 3.49 times(Round answers to 1 decimal place, e.g. 1.5.) 82% (Round answers to o decimal places, e.g. 15%.) Payout ratio 46% Debt to assets ratio 32% 28% (Round answers to O decimal places, e.g. 15%.) Click if you would like to Show Work for this question: Open Show Work