The comparative balance sheets of Waterways Corporation's-Irrigation Installation Division for the years 2021 and 2022 and the income statements for the year 2021 and 2022 are presented below. Additional information: 85\% of the sales for Waterways were credit sales. There are 5,000 shares outstanding for both years. This is a private corporation whose shares are not available to the public. Liabilities and Stockholders' Equity Current liabilities WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statements For the Year Ending December 31 Other income Gair on disposal of plant assets 17,700 Other expenses WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statement For the Year Ended December 31 \begin{tabular}{|c|c|c|c|c|} \hline & 2022 & 2021 & Amount & Percent \\ \hline & $5,551,614 & $4,974,000 & & \\ \hline tof goods sold & 3,163,600 & 2,793,400 & & \\ \hline Jift & 2,388,014 & 2,180,600 & & \\ \hline gexpenses & & & & \\ \hline ising & 50,000 & 48,000 & & \\ \hline ace & 400,500 & 400,500 & & \\ \hline sand wages & 587,200 & 557,200 & & \\ \hline ciation & 67,100 & 58,100 & & \\ \hline operating expenses & 21,000 & 18,326 & & \\ \hline irating expenses & 1,125,800 & 1,082,126 & & \\ \hline rom operations & 1,262,214 & 1,098,474 & & \\ \hline \end{tabular} some ndisposal of plant assets 17,700 \% penses \begin{tabular}{|c|c|c|c|} \hline it expense & (12.200) & - & \\ \hline efore income tax & 1,267,714 & 1,098,474 & \\ \hline axexpense & 380,314 & 329,542 & \\ \hline ne & 5887,400 & $768,932 & 5 \\ \hline \end{tabular} WATERWAYS CORPORATION-INSTALLATION DIVISION Income Statement For the Vear Ending December 31, 2022 \begin{tabular}{|c|c|c|c|} \hline & Amount & Percent & \\ \hline Sales & $5,551,614 & & 100 \\ \hline Less: Cost of goods sold & 3,163,600 & 56.9 & i \\ \hline Gross profit & 2,388,014 & & 43 \\ \hline \end{tabular} Operating expenses Advertising Insurance Salaries and wages Depreciation Other operating expenses Total operating expenses Income from operations Other income Gain on disposal of plant assets Other expenses Interest expense Income before income tax Income tax expense Net income 50,000 400,500 587,200 67,100 21,000 1,125,800 1,262,214 17,700 % % % \% % % s. % 8 % Calculate the following ratios for 2022 and indicate whether the ratio is a liquidity, solvency, or profitability ratio. Round Asset turnover natia, Accounts recelvable tumover natio, Current notio and Eamings per share to 2 decimal places, es. 15.25. Round Averase collection period, Debt to assets ratio, Profit margin, Retum on assets ratia. Retum on common stocholders equity rotio and Times interest eamed ratio to 1 decimal place, es. 15.2 or 15.2K. Use 365 doys for calculation)
