The following financial information is for Sheridan Company. SHERIDAN COMPANY Balance Sheets December 31 Assets 2022 2021 Cash $ 71,980 $ 63,060 Debt investments (short-term) 54,000 42.000 Accounts receivable 104,000 91.000 230.000 165,000 Inventory Prepaid expenses Land 22,000 25,000 134,000 134,000 Building and equipment (net) 261.000 189.000 Total assets $876.980 $709,060 $171,188 $108,000 65,000 50,000 Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2025 Common stock, $10 par 41,000 41,000 249.000 172.000 207.000 207.000 Retained earnings 143.792 131,060 Total liabilities and stockholders' equity $876,980 $709,060 SHERIDAN COMPANY Income Statements For the Years Ended December 31 2022 2021 Sales revenue $897,000 $796.550 Cost of goods sold 651,750 574,000 Gross profit 245,250 222,550 Operating expenses 188.739 174,757 Net income $ 56,511 $ 47,793 Additional information: 1. 2. 3. 4. . Inventory at the beginning of 2021 was $115,000. Accounts receivable (net) at the beginning of 2021 were $88,000. Total assets at the beginning of 2021 were $639.000. No common stock transactions occurred during 2021 or 2022. All sales were on account. LIQUIDITY Current ratio Accounts receivables turnover Inventory turnover 2022 :1 times times 2021 :1 times times % Change % % % PROFITABILITY Profit margin Asset turnover Return on assets Earnings per share 2022 % times % $ 2021 % times % $ % Change % % % %