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The following financial information is for Crane Company.

CRANE COMPANY Balance Sheets December 31
Assets		2022		2021
Cash		$ 71,000		$ 69,000
Debt investments (short-term)		50,000		41,000
Accounts receivable		107,000		92,000
Inventory		234,000		162,000
Prepaid expenses		29,000		23,000
Land		135,000		135,000
Building and equipment (net)		261,000		187,000
Total assets		$887,000		$709,000
Liabilities and Stockholders Equity
Notes payable		$169,000		$106,000
Accounts payable		66,000		54,000
Accrued liabilities		42,000		42,000
Bonds payable, due 2025		250,000		171,000
Common stock, $10 par		203,000		203,000
Retained earnings		157,000		133,000
Total liabilities and stockholders equity		$887,000		$709,000

CRANE COMPANY Income Statements For the Years Ended December 31
		2022		2021
Sales revenue		$902,000		$792,000
Cost of goods sold		647,000		576,000
Gross profit		255,000		216,000
Operating expenses		195,000		160,000
Net income		$ 60,000		$ 56,000

Additional information:

1.		Inventory at the beginning of 2021 was $116,000.
2.		Accounts receivable (net) at the beginning of 2021 were $88,000.
3.		Total assets at the beginning of 2021 were $642,000.
4.		No common stock transactions occurred during 2021 or 2022.
5.		All sales were on account.

(21) Compute the liquidity and profitability ratios of Crane Company for 2021 and 2022. (Round Curent ratio, Asset turnover and Earnings per share to 2 decimal places, e.g. 15.50 and round all other answers to 1 decimal place, e.g. 15.5. Round % change to 0 decimal places, for e.g. 1% and if % change is a decrease show the numbers as negative, e.g.-1% or (1%).) 2021 2022 % Change LIQUIDITY Current ratio 1.92 :1 1.77 :1 -8 % Accounts receivables turnover 8.8 times 9.1 times 3 % Inventory turnover 4.1 times 3.3 times -20 % 2021 2022 % Change PROFITABILITY Profit margin 7 % 7 % 0 Asset turnover 1.17 times 1.13 times -3 Return on assets 8 % 7 % - 12.5 Earnings per share $ 2.76 $ 2.96 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 0 decimal places, e.g. 15 and round all other answers to 1 decimal place, e.g. 15.5. Round % change to 0 decimal places, for e.g. 1% and if % change is a decrease show the numbers as negative, e.g.-1% or (1%).) Situation Ratio 1. 20,000 shares of common stock were sold at par on July 1, 2023. Net income for 2023 was $55,000. Return on common stockholders' equity 2. Debt to assets ratio 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 $868,000. 3. Price-earnings ratio The market price of common stock was $9 and $12 on December 31, 2022 and 2023, respectively. 2022 2023 % Change Return on common stockholders' equity % % Debt to assets ratio % % -33 % Price earnings ratio 3 times times %