The firm's comparative income statement and balance sheet for the years 2022 and 2021 follow.

THE STAIR COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2021
	Amounts
	2022				2021
Revenue
Sales	$	1,107,000			$	920,700
Less Sales Returns and Allowances		27,000				20,700
Net Sales	$	1,080,000			$	900,000
Cost of Goods Sold
Merchandise Inventory, January 1		115,560				108,000
Net Purchases	$	374,220			$	314,100
Total Merchandise Available for Sale	$	489,780			$	422,100
Less Merchandise Inventory, December 31		118,800				115,560
Cost of Goods Sold	$	370,980			$	306,540
Gross Profit on Sales	$	709,020			$	593,460
Operating Expenses
Selling Expenses
Sales Salaries Expenses	$	110,160			$	101,700
Payroll Tax ExpenseSelling		10,800				9,900
Other Selling Expenses		37,800				28,800
Total Selling Expenses	$	158,760			$	140,400
General and Administrative Expenses
Officers' Salaries Expense	$	162,000			$	131,400
Payroll Tax ExpenseAdministrative		16,200				10,800
Depreciation Expense		10,800				10,800
Other General and Administrative Expenses		16,200				10,800
Total General and Administrative Expenses	$	205,200			$	163,800
Total Operating Expenses	$	363,960			$	304,200
Net Income before Income Taxes	$	345,060			$	289,260
Income Tax Expense		103,518				86,778
Net Income after Income Taxes	$	241,542			$	202,482

THE STAIR COMPANY Comparative Balance Sheet December 31, 2022 and 2021
	Amounts
	2022				2021
Assets
Current Assets
Cash	$	128,700			$	63,000
Accounts Receivable		114,800				105,000
Merchandise Inventory		118,800				115,560
Prepaid Expenses		11,300				6,000
Supplies		3,500				1,640
Total Current Assets	$	377,100			$	291,200
Property, Plant, and Equipment
Land	$	93,000			$	93,000
Building and Store Equipment		98,200				98,200
Less Accumulated DepreciationBldg & Store Equipment		(43,200	)			(32,400	)
Net Book ValueBuilding and Store Equipment	$	55,000			$	65,800
Total Property, Plant, and Equipment	$	148,000			$	158,800
Total Assets	$	525,100			$	450,000
Liabilities and Stockholders' Equity
Current Liabilities
Accounts Payable	$	46,800			$	75,000
Sales Tax Payable		2,800				8,000
Payroll Taxes Payable		2,900				2,400
Interest Payable		2,800				8,000
Total Current Liabilities	$	55,300			$	93,400
Long-Term Liabilities
Mortgage Payable		58,800				63,000
Total Long-Term Liabilities	$	58,800			$	63,000
Total Liabilities	$	114,100			$	156,400
Stockholders' Equity
Common Stock ($1 par, 10,000 shares authorized; 10,000 shares issued and outstanding)	$	10,000			$	10,000
Paid-in CapitalCommon Stock		10,000				10,000
Retained Earnings		391,000				273,600
Total Stockholders' Equity	$	411,000			$	293,600
Total Liabilities and Stockholders' Equity	$	525,100			$	450,000

Assume all sales are credit sales. Part I

Calculate the current ratio for 2021 and 2022.

Calculate the acid-test ratio for 2021 and 2022.

Calculate the inventory turnover for 2021 and 2022.

Calculate the return on sales for 2021 and 2022.

Calculate the earnings per share of common stock for 2021 and 2022.

Calculate the book value per share of common stock for 2021 and 2022.

Calculate the return on total assets for 2021 and 2022.

Calculate the ratio of stockholders equity to total equities for 2021 and 2022.

Calculate the rate of return on stockholders equity for 2021 and 2022.

Calculate the asset turnover for 2021 and 2022.

Complete this question by entering your answers in the tabs below. Calculate the current ratio for 2021 and 2022 . Complete this question by entering your answers in the tabs below. Calculate the acid-test ratio for 2021 and 2022 . Complete this question by entering your answers in the tabs below. Calculate the inventory turnover for 2021 and 2022 . Complete this question by entering your answers in the tabs below. Calculate the return on sales for 2021 and 2022 . Complete this question by entering your answers in the tabs below. Calculate the earnings per share of common stock for 2021 and 2022. Complete this question by entering your answers in the tabs below. Calculate the book value per share of common stock for 2021 and 2022 . Complete this question by entering your answers in the tabs below. Calculate the return on total assets for 2021 and 2022 . Complete this question by entering your answers in the tabs below. Calculate the ratio of stockholders' equity to total equities for 2021 and 2022. Complete this question by entering your answers in the tabs below. Calculate the rate of return on stockholders' equity for 2021 and 2022 . Complete this question by entering your answers in the tabs below. Calculate the asset turnover for 2021 and 2022