The comparative statements of Flint Interiors Ltd. are presented as follows: FLINT INTERIORS LTD. Income Statement For the Year Ended December 31, 2021 Net sales $2,087,750 Cost of goods sold 1,155,000 Gross profit 932,750 Selling and administrative expenses 520,000 Income from operations 412,750 Other expenses and losses Interest expense 15,500 Income before income taxes 397,250 Income tax expense 104,275 Profit $292,975 2020 $1,810,500 1,012,500 798,000 484,000 314,000 12,000 302,000 84,000 $218,000 FLINT INTERIORS LTD. Balance Sheet December 31 2021 2020 2019 Assets Current assets Cash Accounts receivable Inventory Total current assets $80,000 182,200 214,800 477,000 $129,100 $112,600 108,200 103,000 123,000 115,500 360,300 331,100 2020 2019 December 31 Assets 2021 Current assets Cash $80,000 Accounts receivable 182,200 Inventory 214,800 Total current assets 477,000 Property, plant, and equipment (net) 642,700 Total assets $1,119,700 Liabilities and Shareholders' Equity $129,100 $112,600 108,200 103,000 123,000 115,500 360,300 331,100 601,300 514,300 $961,600 $845,400 Current liabilities Accounts payable Income taxes payable Total current liabilities $291,175 48,000 339,175 190,000 529,175 $146,000 $131,400 48,000 46,500 194,000 177,900 195,000 200,000 389,000 377,900 Bonds payable Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholdersequity 280,000 310,525 590,525 $1,119,700 280,000 300,000 292,600 167,500 572,600 467,500 $961,600 $845,400 Additional information: 1. All sales were on account. 2. Weighted-average common shares in 2021 were 60,000 and in 2020 were 62,000. 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, e.g. 1.83 or 1.83% and all other answers to 1 decimal place, e.g. 1.5 or 1.5%. Use 365 days for calculation.) 2021 2020 1. Gross profit margin 2. Profit margin 3. Earnings per share 4. Receivables turnover times times 5. Collection period days days 6. Inventory turnover times times 7. Days sales in inventory days days 8. Return on common shareholders' equity 9. Return on assets 10. Current ratio 11. Acid-test ratio 12. Asset turnover times times 13. Debt to total assets