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The condensed financial statements of Sunland Electronics for 2022 are presented below. Sunland Electronics Income Statement For the Year Ended December 31, 2022 Revenues$728,000 Expenses
The condensed financial statements of Sunland Electronics for 2022 are presented below. Sunland Electronics Income Statement For the Year Ended December 31, 2022 Revenues$728,000 Expenses Cost of goods sold 403,200 Selling and admin expenses 168,000 Interest expense 33,600 Total expenses 604,800 Income before income taxes 123,200 Income tax expense 36,960 Net income $86,240 Additional data as of December 31, 2021: Inventory =$52,640; Total assets =$436,800; Common stockholders' equity =$123,200. Compute the following listed ratios for 2022. (Round answers to 2 decimal places, e.g. 1.83.)
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