Yours Ended December 31, 2022 and 2021 Amounts 2102 2021 Sales $1,850,000 $1,700,000 Less: Sales returns and allowances 55 500 51,000 Net sales $1,794,500 $1,649,000 Cost of goods sold 1,345 875 1,236,750 Gross profit on sales $448 625 412,250 selling expenses 215,000 200/000 General expenses 210.000 190,000 Total expenses 425000 390 000 Net Income before Income taxes 23,625 $ 22,250 Income tax expense 4.961 4.672 Net Income after Income taxes 18 664 17 578 ACRH, Inc. Comparative Balance Sheet December 31, 2022 and 2021 3027 3121 Current Assets Cash $123.923 $112, 250 Accounts receivable (Net) 113,400 107,000 Inventory 55,705 GO.800 Total current assets $293,028 4280 050 Property, Plant, and Equipment Buildings [Net] $157,600 $175,100 Equipment (Net) 65,950 63,850 Land 56.000 56 000 Total property, plant, and equipment $279.550 8294,950 Total assets $572.578 $575,000 Wabilities and Stockholders Equity Current Liabilities Accounts payable $155,000 $160,000 Other current liabilities 40,000 45 000 Total current Isbillties $195,000 4205.000 Long-Term Lisbillities Bonds payable 65,000 75 000 Total long-term liabilities $ 65.000 8 75,000 Total liabilities $260.000 4280 000 Stockholders' Equity Common stock ($1 par) $200,000 $200,000 Retained earnings 112,578 95,000 Total stockholders equity $312,578 $295.000 Total liabilities and stockholders' equity $575,000 Required: Calculate the price-earnings ratio for 2032 and 2021. The common stock selling price at year-end 2022 was $2.00 and for 2021 was $1.60. (Round your answers to 2 decimal places.) Price Earnings Ratio Choose Numerator + Choose Denominator Market price por share of CE EPB O CE = Prion Gamings milo $ 2.00 1.60 +