The comparative statements of Pronghorn Interiors Ltd. are presented as follows: PRONGHORN INTERIORS LTD. Income Statement For the Year Ended December 31 2021 Net sales $2,031,750 Cost of goods sold 1,153,000 Gross profit 878,750 Selling and administrative expenses 502,000 Income from operations 376,750 Other expenses and losses Interest expense 13,000 Income before income taxes 363,750 Income tax expense 105,275 Profit $258,475 2020 $1,809,500 1,008,500 801,000 488,000 313,000 16,000 297,000 76,000 $221,000 2020 2019 $129,100 $112,600 109,000 101,800 124,000 114,500 362,100 328,900 600,300 512,300 $962,400 $841,200 PRONGHORN INTERIORS LTD. Balance Sheet December 31 Assets 2021 Current assets Cash $80,000 Accounts receivable 185,600 Inventory 215,800 Total current assets 481,400 Property, plant, and equipment (net) 647,700 Total assets $1,129,100 Liabilities and Shareholders' Equity Current liabilities Accounts payable $285,175 Income taxes payable 43,000 Total current liabilities 328,175 Bonds payable 190,000 Total liabilities 518,175 Shareholders' equity Common shares 280,000 Retained earnings 330,925 Total shareholders' equity 610,925 Total liabilities and shareholders' equity $1,129,100 $156,000 $138,400 43,000 41,500 199,000 179,900 195,000 200,000 394,000 379,900 280,000 300,000 288,400 161,300 568,400 461,300 $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 % % 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 % %