Question 1 of 4 > 1.25/10 E Condensed statements of financial position and statements of income data for Crown Point Corporation follow: Assets CROWN POINT CORPORATION Statement of Financial Position December 31 2024 2023 2022 *** Question 1 of 4 < > Income before income tax 161,100 131,300 Income tax expense 21,500 18,600 Net income $139,600 $112,700 Additional information: 1.25/10 E 1. Current assets All sales were credit sales. 2. Cash The allowance for expected credit losses was $6,000 in 2022, $5,500 in 2023, and $7,500 in 2024. $30,100 $30,000 $63,500 3. Accounts receivable (net) 66,300 68,100 80,000 Net capital expenditures were $125,000 for 2023 and $201,000 for 2024. 4. Inventory 89,300 76,900 105,000 Net cash provided by operating activities was $160,000 in 2023 and $124,000 in 2024. Total current assets 185,700 175,000 248,500 Long-term investments 238,300 106,000 27,300 Property, plant, and equipment (net) 605,000 551,000 448,000 (a) Total assets $1,029,000 $832,000 $723,800 Your answer is partially correct. Liabilities and Shareholders' Equity Liabilities Current liabilities $101,000 $121,000 $89,800 Calculate the following ratios for 2023 and 2024: (Round answers to 1 decimal place, e.g. 5.2:1 or 5.2% or 5.2. Enter negative answers preceeding either-sign, eg. -45 or in parentheses, e.g. (45).) Non-current liabilities 186,000 128,000 105,000 2024 2023 Total liabilities 287,000 249,000 194,800 1. Current ratio 1.8 :1 14 :1 Shareholders' equity 2. Receivables turnover 1.4 9.2 Common shares 545,000 397,000 359,000 times times Retained earnings 197,000 186,000 170,000 3. Inventory turnover 6.1 4.6 times times Total shareholders' equity 742,000 583,000 529,000 4. Debt to total assets 27.9 % 29.9 Total liabilities and shareholders' equity $1,029,000 $832,000 $723,800 CROWN POINT CORPORATION Statement of Income Year Ended December 31 2024 2023 Sales 896,200 629,500 Cost of goods sold 541,000 357,000 Gross profit 355,200 272,500 Operating expenses 182,000 126,000 Income from operations 173,200 146,500 5. Times interest earned 6. Free cash flow 7. Gross profit margin 8. Profit margin 9. Asset turnover +A 13.3 times -77000 39.6 % 19 8.6 times 35000 43.3 96 15.6 17.9 % % 0.9 0.8 times times 10. Return on assets 13.6 % 13.5 % ***