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The following are condensed financial statements of The Windy West Company for the three years ended December 31, 2020, 2021, 2022. The Windy West Company expanded their business in 2021 - 2022. On January 1, 2022, 300 additional shares of common stock were sold (share numbers in thousands). The Windy West Company Comparative Income Statements For the Year Ended December 31 The Windy West Company Comparative Statements of Retained Earnings For the Year Ended December 31 (thousands of \$) Balance, January 1 Add: Net Income for the Year \begin{tabular}{|c|c|c|c|c|c|} \hline & & \begin{tabular}{l} INDUSTRY \\ AVERAGE \end{tabular} & Formula & 2022 & 2021 \\ \hline 1 & Current ratio & 1.6:1 & & & \\ \hline 2 & Acid-test ratio & 1.1:1 & & & \\ \hline 3 & \begin{tabular}{l} Accounts receivable \\ turnover \end{tabular} & 16 times & & & \\ \hline 4 & \begin{tabular}{l} Days' sales \\ uncollected \end{tabular} & 21 days & & & \\ \hline 5 & \begin{tabular}{l} Merchandise \\ turnover \end{tabular} & 5 times & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|c|c|c|c|c|} \hline & & \begin{tabular}{c} INDUSTRY \\ AVERAGE \end{tabular} & Formula & 2022 & 2021 \\ \hline 14 & \begin{tabular}{l} Return on common \\ S/E equity \end{tabular} & 32.70% & & & & \\ \hline 15 & \begin{tabular}{l} Basic earnings per \\ share \end{tabular} & $1.79 & & & & \\ \hline 16 & Price-earnings ratio & 18.2 & & & \\ \hline 17 & Dividend yield & 13.50% & & & \\ \hline \end{tabular}

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