The comparative statements ofSheffieldInteriors Ltd. are presented as follows:

HEFFIELDINTERIORS LTD.

Income Statement

For the Year Ended December 31

2021 2020

Net sales$2,117,750$1,822,500

Cost of goods sold1,175,000 1,005,500

Gross profit942,750 817,000

Selling and administrative expenses 506,000 496,000

Income from operations 436,750 321,000

Other expenses and losses

Interest expense13,500 12,000

Income before income taxes 423,250 309,000

Income tax expense107,275 81,000

Profit $315,975 $228,000

SHEFFIELDINTERIORS LTD.

Balance Sheet

December 31

Assets2021 2020 2019

Current assets

Cash$90,000 $129,100 $112,800

Accounts receivable186,000 106,600 103,200

Inventory215,800 136,000 115,500

Total current assets491,800 371,700 331,500

Property, plant, and equipment (net)641,700 601,300 517,300

Total assets$1,133,500 $973,000 $848,800

Liabilities and Shareholders' Equity

Current liabilities

Accounts payable$289,175 $159,000 $136,400

Income taxes payable47,000 41,000 39,500

Total current liabilities336,175 200,000 175,900

Bonds payable190,000 195,000 200,000

Total liabilities526,175 395,000 375,900

Shareholders' equity

Common shares280,000 280,000 300,000

Retained earnings327,325 298,000 172,900

Total shareholders' equity607,325 578,000 472,900

Total liabilities and shareholders' equity$1,133,500 $973,000 $848,800

Additional information:

1.All sales were on account.

2.Weighted-average common shares in 2021 were52,000and in 2020 were54,000.

Calculate the following ratios for 2021 and 2020.

2021 2020

1.Gross profit margin%

2.Profit margin%

3.Earnings per share$

4.Receivables turnover times times

5.Collection period

days

6.Inventory turnove

time

7.Days sales in inventory days

8.Return on common shareholders' equity%%

9.Return on assets%%

10.Current ratio

11.Acid-test ratio

12.Asset turnovertimes

13.Debt to total assets%%