Suomit Igneous Gravel declared and paid a cash dividend of $7.025 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Previous $ 299,000 157,650 139,350 54,600 5,500 79,250 23,775 $ 55,475 $ 245,000 141,000 184,820 45,730 4,77e 53,500 16,950 $ 37,450 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Incone before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long tern) Total Liabilities Common Stock (par $1) Retained Earnings Total Liabilities and Stockholders' Equity $ 60,325 27.500 40,000 142,000 $ 269,825 $ 34,500 4,125 92,000 130,625 34,000 105, 200 5.269,825 $ 42,500 23,500 37,000 131,000 $ 234,000 $ 32,500 3,550 107,200 143,250 34,000 56,75e $ 234,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current-year results better, or worse than those for the previous year? 2. Compute the net profit margin for the current and previous years. Are the current-year results better, or worse than those for the previous year? 3. Compute the earnings per share for the current and previous years. Are the current-year results better, or worse than those for the previous year? 4. Stockholders' equity totaled $80,000 at the beginning of the previous year. Compute the return on equity ratios for the current and previous years. Are the current-year results better, or worse, than those for the previous year? 5. Net property and equipment totaled $130,000 at the beginning of the previous year. Compute the fixed asset turnover ratios for the current and previous years. Are the current-year results better, or worse than those for the previous year? 6. Compute the debt-to-assets ratios for the current and previous years. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 7. Compute the times interest earned ratios for the current and previous years Are the current-year results better or worse than those for the previous year? 8. After Igneous released its current-year financial statements, the company's stock was trading at $25. After the release of its previous year financial statements, the company's stock price was $12 per share, Compute the P/E ratios for both years. Does it appear that investors have become more or less) optimistic about Igneous's future success? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Required 6 Required 7 Required 8 1-a. Compute the gross profit percentage in the current and previous years. (Round percentage values to 1 decimal place.) 1-b. Are the current-year results better or worse, than those for the previous year? 1-a. Current Year 1-a. Previous Year 1-b. Current year gross profit percentage? 46.9% 42.5% Better Recruired Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 2-a. Compute the net profit margin for the current and previous years. (Round percentage values to 1 decimal place.) 2-b. Are the current-year results better, or worse, than those for the previous year? 2-a, Current Year % 2-a. Previous Year % 2.6. Current year net profit margin? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 3-a. Compute the earnings per share for the current and previous years. (Round your answers to 2 decimal places.) 3-b. Are the current-year results better, or worse, than those for the previous year? 3-a Current Year 3-a. Previous Year 3-b. Current year EPS? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requires Required 5 Required 6 Required 7 Required 8 4-a, Stockholders' equity totaled $80,000 at the beginning of the previous year. Compute the return on equity ratios for the current and previous years. (Round percentage values to 1 decimal place.) 4-b. Are the current-year results better, or worse than those for the previous year? 4-3. Current Year 4-a. Previous Year 4-5. Current year return on equity ratio? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 plaquired Required 6 Required Required 8 5-a. Net property and equipment totaled $130,000 at the beginning of the previous year. Compute the fixed asset tumover ratios for the current and previous years. (Round your answers to 2 decimal places.) 5.b. Are the current-year results better, or worse than those for the previous year? 5-a. Current Year 5-a Previous Year 5-b. Current year fixed asset turnover? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Required 5 Required 6 Required 7 Required 8 6-a. Compute the debt-to-assets ratios for the current and previous years. (Round your answers to 2 decimal places.) 6.b. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 6-a Current Year 6-a Previous Year 6-1. Current your debt-to-assets ratio? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 7-a. Compute the times interest earned ratios for the current and previous years. (Round your answers to 1 decimal place.) 7-b. Are the current-year results better, or worse, than those for the previous year? 7-a. Current Year 7-a. Previous Year 7.b. Current year times interest earned ratio? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 8-a. After Igneous released its current-year financial statements, the company's stock was trading at $25. After the release of its previous year financial statements, the company's stock price was $12 per share. Compute the P/E ratios for both years. (Round your intermediate calculations to 2 decimal places and final answers to 1 decimal place.) 8-b. Does it appear that investors have become more or less) optimistic about Igneous's future success? Show less 8-a. Current Year 8-a. Previous Year 8-b. Current year P/E ratio?