The comparative statements of Pronghorn Interiors Ltd. are presented as follows:

PRONGHORN INTERIORS LTD. Income Statement For the Year Ended December 31
		2021		2020
Net sales		$2,031,750		$1,809,500
Cost of goods sold		1,153,000		1,008,500
Gross profit		878,750		801,000
Selling and administrative expenses		502,000		488,000
Income from operations		376,750		313,000
Other expenses and losses
Interest expense		13,000		16,000
Income before income taxes		363,750		297,000
Income tax expense		105,275		76,000
Profit		$258,475		$221,000

PRONGHORN INTERIORS LTD. Balance Sheet December 31
Assets		2021		2020		2019
Current assets
Cash		$80,000		$129,100		$112,600
Accounts receivable		185,600		109,000		101,800
Inventory		215,800		124,000		114,500
Total current assets		481,400		362,100		328,900
Property, plant, and equipment (net)		647,700		600,300		512,300
Total assets		$1,129,100		$962,400		$841,200
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable		$285,175		$156,000		$138,400
Income taxes payable		43,000		43,000		41,500
Total current liabilities		328,175		199,000		179,900
Bonds payable		190,000		195,000		200,000
Total liabilities		518,175		394,000		379,900
Shareholders’ equity
Common shares		280,000		280,000		300,000
Retained earnings		330,925		288,400		161,300
Total shareholders’ equity		610,925		568,400		461,300
Total liabilities and shareholders’ equity		$1,129,100		$962,400		$841,200

Additional information:

1.		All sales were on account.
2.		Weighted-average common shares in 2021 were 56,000 and in 2020 were 58,000.

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, eg. 1.5 or 1.5%. Use 365 days for calculation.) 2021 2020 1. Gross profit margin 43.3 44.3 % 2. Profit margin 12.7 12.2 % 3. Earnings per share $ 4.62 $ 3.81 Receivables turnover 13.8 times 17.2 times 5. Collection period 26.4 days 21.2 days 6. Inventory turnover times times 7. Days sales in inventory days days Return on common shareholders' 8. % equity 9. Return on assets % 10. Current ratio 11. Acid-test ratio 12. Asset turnover times times 13. Debt to total assets %24 %24