The comparative statements of Sheridan Company are presented here. Sheridan Company Income Statements For the Years Ended December 31 2022 2021 Net sales $1,816,600 $1,750,100 Cost of goods sold 1,010,700 982,000 Gross profit 805,900 768,100 Selling and administrative expenses 518,600 475,600 Income from operations 287,300 292,500 Other expenses and losses Interest expense 19,000 13,900 Income before income taxes 268,300 278,600 Income tax expense 81,196 76,900 Net income $ 187,104 $ 201,700 Sheridan Company Balance Sheets December 31 December 31 Assets 2022 2021 Current assets Cash $60,100 $63,500 Debt investments (short-term) 68,100 49,900 Accounts receivable (net) 116,200 101,100 Inventory 123,200 114,200 Total current assets 367,600 328,700 Plant assets (net) 597,700 520,800 Total assets $965,300 $849,500 Liabilities and Stockholders' Equity Current liabilities Accounts payable $160,300 $145,100 Income taxes payable 43,800 42,900 Total current liabilities 204,100 188,000 Bonds payable 220,000 200,000 Total liabilities 424,100 388,000 Stockholders' equity Common stock ($5 par) 281,300 303,400 Retained earnings 259,900 158,100 Total stockholders' equity 541,200 461,500 Total liabilities and stockholders' equity $965,300 $849,500 (b) Return on common stockholders' equity 36.3 % (c) Return on assets 20.6 % (d) d) Current ratio 1.8 :1 (e) Accounts receivable turnover 16.7 times (f) Average collection period days (g) Inventory turnover 8.5 times (h) Days in inventory days (i) Times interest earned 15.2 times (i) Asset turnover 2 times (k) Debt to assets ratio 41.5 % (1) Free cash flow ta $