SUNLAND COMPANY Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and cash $330 $360 equivalents Accounts receivable 570 500 (net) Inventory 600 530 Prepaid 130 160 expenses Total current 1,630 1,550 assets Property plant, and 410 380 equipment (net) Investments 110 110 Intangibles and other 530 510 assets Total $2,680 $2,550 assets Current $920 $890 liabilities Long-term 620 520 liabilities Stockholders' equity- 1,140 1,140 common Total liabilities and $2,680 $2,550 stockholders' equity SUNLAND COMPANY Income Statements For the Year Ended December 31 (in thousands) 2022 2021 Sales revenue $3,940 $3,600 Costs and expenses Cost of goods sold 1,070 990 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,480 3,340 Income before income taxes 460 260 Income tax expense 184 104 Net income $ 276 $ 156 Compute the following ratios for 2022 and 2021. (Round current ratio and Inventory turnover to 2 decimal places, e.g 1.83 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 $450.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2020, were $2,350.) (e) Return on common stockholders' equity. (Equity on December 31, 2020, was $930.) (f) Debt to assets ratio. (9) Times interest earned