SANDHILLCOMPANY Comparative Balance Sheet December 31 Assets 2021 2020 Cash $32,000 $50,000 Debt investments 30,000 70,000 Accounts receivable (net) 60,000 40,000 Inventory 150,000 180,000 Property, plant and equipment (net) 190,750 210,000 Total assets $462,750 $550,000 Liabilities and stockholders' equity Accounts payable $35,000 $40,000 Short-term notes payable 50,000 100,000 Bonds payable 85,000 170,000 Common stock 170,000 155,000 Retained earnings 122,750 85,000 Total liabilities and stockholders' equity $462,750 $550,000 SANDHILLCOMPANY Income Statement For the Year Ended December 31, 2021 Net sales (all on credit) $420,000 Cost of goods sold 194,000 Gross profit 226,000 Expenses Interest expense $21,000 Selling expenses 40,000 Administrative expenses 30,000 Total expenses 91,000 Income before income taxes 135,000 Income tax expense 42,250 Net income $92,750 Additional information: a. Cash dividends of $55,000 were declared and paid on common stock in 2021. b. The weighted average number of shares of common stock outstanding during 2021 was 55,000. C. The market price of common stock on December 31, 2021, was $16 per share. d. Net cash provided by operating activities for 2021 was $80,000. Using the financial statements and additional information, compute the following ratios for the Sandhill Company for 2021. (Use 365 days for calculation. Round Inventory turnover answer to 2 decimal places, eg. 52.72. Other all answers to 1 decimal place, e.g. 52.7.) 1. Current ratio :1 2. Return on common stockholders' equity % 3. Price-earnings ratio times 4. Inventory turnover :1 5. Accounts receivable turnover times 6. Times interest earned times 7. Profit margin % 8. Days in inventory days 9. Payout ratio % 10. . Return on assets %