The comparative statements of Ayayai Interiors Ltd. are presented as follows: AYAYAI INTERIORS LTD. Income Statement For the Year Ended December 31 2021 2020 Net sales $2,119,750 $1,811,500 Cost of goods sold 1.163.000 1,005,500 Gross proft 956,750 806.000 Selling and administrative expenses 504,000 499,000 Income from operations 452,750 307.000 Other expenses and losses Interest expense 16,500 18,000 Income before income taxes 436,250 289.000 Income tax expense 109.775 87.000 Profit $326,475 $202,000 2020 2019 $129,100 108.000 136.000 373.100 600,300 $973.400 $110.200 103,200 111,500 324,900 519,300 $844,200 AYAYAI INTERIORS LTD. Balance Sheet December 31 Assets 2021 Current assets Cash $90,000 Accounts receivable 187,200 Inventory 219,800 Total current assets 497,000 Property, plant, and equipment (net) 645,700 Total assets $1.142.700 Liabilities and Shareholders' Equity Current liabilities Accounts payable $284 175 Income taxes payable 49,000 Total current liabilities 333.175 Bonds payable 190,000 Total liabilities 523.175 Shareholders' equity Common shares 280,000 Retained earnings 339,525 Total shareholders' equity 619,525 Total liabilities and shareholders' equity $1,142,700 $161.000 41,500 202.500 195.000 397.500 $134,400 40.000 174.400 200,000 374.400 280,000 295.900 575.900 $973,400 300,000 169,800 469,800 $844,200 Additional information: All sales were on account. 1. 2. Weighted average common shares in 2021 were 50,000 and in 2020 were 52.000. 1. 96 % 2. 3. $ $ Calculate the following ratios for 2021 and 2020. (Round earnings per share, current ratio, acid-test ratio and asset turnover answers to 2 decimal places, eg. 1.83 or 1.83% and all other answers to 1 decimal place, eg. 1.5 or 1.5%. Use 365 days for calculation.) 2021 2020 Gross profit margin % Profit margin Earnings per share Receivables turnover times times Collection period days days Inventory turnover times times Days sales in inventory days days Return on common shareholders' equity Return on assets 4. 5. 6. 7. 8. 9. 10. Current ratio Acid-test ratio 11. 12. Asset turnover times times 13. Debt to total assets 96 %