The following financial information is for Oriole Company. ORIOLE COMPANY Balance Sheets December 31 Assets 2022 2021 Cash $ 70,000 $69,000 Debt investments (short-term) 51,000 40,000 Accounts receivable 107,000 92,000 Inventory Prepaid expenses 234,000 26,000 135,000 167,000 23,000 135,000 Land Building and equipment (net) 261,000 184,000 Total assets $884,000 $710,000 Liabilities and Stockholders' Equity Notes payable $172,000 $106,000 Accounts payable Accrued liabilities Bonds payable, due 2025 66,000 52,000 42,000 42,000 251,000 170,000 204,000 149,000 136,000 $884,000 $710,000 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity ORIOLE COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $882,000 $781,000 Cost of goods sold 641,000 574,000 Gross profit 241,000 207,000 Operating expenses 190,000 160,000 Net income $ 51,000 $ 47,000 Additional information: 1. Inventory at the beginning of 2021 was $117,000. 2. Accounts receivable (net) at the beginning of 2021 were $88,000. 3. Total assets at the beginning of 2021 were $631,000. 4. No common stock transactions occurred during 2021 or 2022. 5. All sales were on account. (21) Compute the liquidity and profitability ratios of Oriole Company for 2021 and 2022. (Round Curent ratio, Asset turnover and Earnings per Share to 2 decimal places, es. 15.50 and round all other answers to 1 decimal place, eg. 15.5. Round % change to decimal places, fores. 1% and if % change is a decrease show the numbers as negative, c.8. -1% or (10) 2021 2022 X Change LIQUIDITY Current ratio Accounts receivables turnover Inventory turnover times imes 2021 2022 Change PROFITABILITY Profit margin Asset turnover Return on asets Earnings per shares Given below are three Independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2022, and (2) as of December 31, 2023, after giving effect to the situation (Round Debt to assets ratio to decimal places, eg, 15 and round all other answers to 1 decimal place, e.g. 15.5. Round change to decimal places, foreg. 1% and if % change is a decrease show the numbers as negative. e. -1% or (11) Situation Ratio 1. 19,000 shares of common stock were sold at par on July 1, 2023. Net income for 2023 was $55,000 Return on common stockholders' equity Debt to assets ratio 2. All of the notes payable were paid in 2023. All other liabilities remained at their December 31, 2022 levels. Total assets on December 31, 2023, were $885,000. 3. The market price of common stock was $9 and $12 on December 31, 2022 and 2023, respectively. Price-earnings ratio 2022 2023 Change Return on common stockholders' equity Debt to assets ratio Price earnings ratio
