The following financial information is for Oriole Company. Oriole Company Balance Sheets December 31 Assets Cash 2022 2021 $ 78,400 $ 72,800 Debt investments (short-term) 61,600 44,800 Accounts receivable (net) 116,480 100,800 Inventory 257,600 184,800 Prepaid expenses 28,000 25,760 Land 145,600 145,600 Building and equipment (net) 291,200 207,200 Total assets $978,880 $781,760 Liabilities and Stockholders' Equity Notes payable (current) $190,400 $134,400 Accounts payable 72,800 58,240 Accrued liabilities 44,800 44,800 Bonds payable, due 2025 280,000 190,400 Common stock, $10 par 224,000 224,000 Retained earnings 166,880 129,920 Total liabilities and stockholders' equity $978,880 $781,760 Oriole Company Income Statement For the Years Ended December 31 2022 2021 Net sales $987,840 $884,800 Cost of goods sold 716,800 644,000 Gross profit 271,040 240,800 Operating expenses 212,800 187,040 Net income $ 58,240 $ 53,760 Additional information: 1. Inventory at the beginning of 2021 was $128,800. 2. Accounts receivable (net) at the beginning of 2021 were $96,320. 3. Total assets at the beginning of 2021 were $739,200. 4. No common stock transactions occurred during 2021 or 2022. 5. All sales were on credit. LIQUIDITY Current ratio 2021 :1 2022 :1 Accounts receivable turnover 9 times 9 times Inventory turnover PROFITABILITY Profit margin Asset turnover Return on assets Earnings per share eTextbook and Media Save for Later LA $ times % times % do $ LA times 6 % times do % Attempts: 1 of 3 used Submit