Question 3 of 3 SUNLAND COMPANY Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and cash equivalents $358 $326 Accounts receivable (net) 590 520 Inventory 520 450 Prepaid expenses 130 160 Total current assets 1,598 1,456 Investments 130 130 Property, plant, and equipment (net) 382 380 Intangibles and other assets 530 544 Total assets $2,640 $2.510 Current liabilities 6940 0165 Long-term liabilities 540 440 Stockholders' equity-commen 1450 1160 Total liabilities and stockholders equity $2,640 $2510 Question 3 of 3 SUNLAND COMPANY Income Statements For the Year Ended December 31 (in thousands) 2022 2021 $3.860 $3,520 Sales revenue Costs and expenses Cost of goods sold 970 1,012 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3.380 3.362 Income before income taxes 480 158 Income tax expense 192 63 Net income $ 288 $95 Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turno answers to 1 decimal place, eg 18 or 1266) (a) Current ratio. (b) Inventory turnover Inventory on December 31, 2020 was 50501 (c) Profit margin. Chapter 10 Quiz Question 3 of 3 < Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turnover to 2 decimal places, eg 183 and all other answers to 1 decimal place, e.g. 1.8 or 12.6%.) (a) Current ratio. (b) Inventory turnover. (Inventory on December 31, 2020, was $350.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2020, were $2,290.) (e) Return on common stockholders' equity. (Equity on December 31, 2020, was $950.) (f) Debt to assets ratio. (g) Times interest earned. Current ratio. Inventory turnover. margin. 2022 :1 2021 :1 ENG 1002 08-04-2