Problem 13-3A Condensed balance sheet and income statement data for Sarasota Corporation are presented here. 2015 SARASOTA CORPORATION Balance Sheets December 31 2017 2016 Cash $ 31,000 $ 21,000 Accounts receivable (net) 51,000 46,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) 500,000 370,000 $737,000 $612,000 $ 19,000 49,000 69,000 50,000 358,000 $545,000 Current liabilities Long-term debt Common stock, $10 par Retained earnings $ 86,000 150,000 325,000 176,000 $737,000 $ 81,000 90,000 315,000 126,000 $612,000 $ 71,000 55,000 305,000 114,000 $545,000 SARASOTA CORPORATION Income Statements For the Years Ended December 31 2017 2016 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income $745,000 41,000 704,000 430,000 274,000 181,000 $ 93,000 $605,000 31,000 574,000 355,000 219,000 151,000 $68,000 Additional information: 1. The market price of Sarasota's common stock was $7.00, $7.50, and $8.50 for 2015, 2016, and 2017, respectively. 2. You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2016 and 2017. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.) 2017 2016 Profit margin Gross profit rate Asset turnover times times Earnings per share Price-earnings ratio times times Payout ratio Debt to assets ratio