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Profitability Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Statements of Income (in thousands except per share amounts) Steele Inc. Consolidated Balance Sheets
Profitability Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Statements of Income (in thousands except per share amounts) Steele Inc. Consolidated Balance Sheets (in thousands) LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $250,363$309,092 Accrued expenses 347,892274,220 Other current liabilities Income taxes Total current liabilities $707,44493,489$720,778137,466 Long-term debt 650,000 541,639 Stockholders' equity: \begin{tabular}{lrrr} Preferred stock & $100,000 & $100,000 \\ Common stock & 89,727 & 89,727 \\ Additional paid-in capital-common stock & 128,906 & 127,776 \\ Retained earnings & 2,397,112 & 2,136,794 \\ \cline { 4 - 5 } & $2,715,745 & $2,454,297 \\ Less: Treasury stock, at cost & $(291,652) & \( \frac{(186,680)}{\hline 2,424,093} \) & $2,267,617 \\ Total stockholders' equity & $4,117,905 & $3,846,450 \\ \hline Total liabilities and stockholders' equity & = \end{tabular} Use the information provided above and below to respond to the following requirements. \begin{tabular}{lc} Statement Item & January 1, 2022 (in thousands) \\ \hline Total assets & $3,485,233 \\ Total stockholders' equity & 2,083,122 \end{tabular} Compute the five profitability ratios for 2022 and 2023. Round intermediate calculations and final answers to two decimal places
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