View Policies Current Attempt in Progress Comparative financial statements for The Crane Company Ltd. are shown below. THE CRANE COMPANY LTD. Income Statement Year Ended December 31 2021 2020 Net sales $1,872,110 $1,854,060 Cost of goods sold 1,092,650 1.018,810 Gross profit 779,460 835,250 Operating expenses 566,740 453,820 Profit from operations 212,720 381,430 Interest expense 26,500 20,190 Profit before income tax 186,220 361,240 Income tax expense 55,866 108,372 Profit $130,354 $252,868 2021 2020 $74,587 110,981 144,360 329,928 572,179 $902,107 $65,494 112,120 118,510 296,124 592,370 $888,494 THE CRANE COMPANY LTD. Balance Sheet December 31 Assets Current assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable Income tax payable Current portion of mortgage payable Total current liabilities Mortgage payable Total liabilities Shareholders' equity Common shares (59,260 issued in 2021; 63,030 in 2020) Retained earnings Total shareholders' equity $156,590 46,420 10,970 213,980 93,820 307,800 $136,971 38,420 18,000 193,391 188,900 382,291 177,780 416,527 594,307 189,090 317,113 506,203 Additional information: 1. All sales were on account. 2. The allowance for doubtful accounts was $5,696 in 2021 and $4,745 in 2020. 3. On July 1, 2021, 3,770 shares were reacquired for $10 per share and cancelled. 4. In 2021, $4,550 of dividends were paid to the common shareholders. 5. Cash provided by operating activities was $320,271. 6. Cash used by investing activities was $170,352. Calculate all possible liquidity, solvency, and profitability ratios for 2021. (Round answers for Collection period, Days sales in inventory, Operating cycle and Free cash flow to O decimal places, e.g. 125. Round answer for Earnings per share to 2 decimal places, e.g. 12.56. Round all other answers to 1 decimal place, e.g. 12.5 or 12.5%.) Liquidity Ratios 1. Current ratio 2. Acid-test ratio 3. Receivables turnover times 4. Collection period days 5. Inventory turnover times 6. Days sales in inventory days 7. Operating cycle days Solvency Ratios 8. Debt to total assets % 9. Interest coverage times 10. Free cash flow $ Profitability Ratios 11. Gross profit margin % 12. Profit margin % 13. Asset turnover times 14. Return on assets % 15. Return on equity % 16. Earnings per share LA 17. Payout ratio %