2016 $360 460 570 160 CRANE COMPANY Balance Sheets December 31 (in thousands) 2017 Current assets Cash and cash equivalents $330 Accounts receivable (net) 530 Inventory 640 Prepaid expenses 130 Total current assets 1,630 Property, plant, and equipment (net) 410 Investments 70 Intangibles and other assets 530 Total assets $2,640 Current liabilities $880 Long-term liabilities Stockholders' equity-common 1.100 Total liabilities and stockholders' equity $2,640 1.550 380 70 510 $2.510 $850 560 1,100 $2,510 660 CRANE COMPANY Income Statements For the Year Ended December 31 (in thousands) 2017 2016 Sales revenue $3.980 $3,640 Costs and expenses Cost of goods sold 1,030 950 Selling & administrative expenses 2.400 2,330 Interest expense 10 20 Total costs and expenses 3,440 3,300 Income before income taxes 540 340 Income tax expense 216 136 Net income $324 $ 204 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places, es 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 12.6%.) Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, c.g. 1.8 or 12.6%.) (b) (c) (d) le) (0) (s) Current ratio. Inventory turnover. (Inventory on December 31, 2015, was $390.) Profit margin Return on assets. (Assets on December 31, 2015, were $2.720.) Return on common stockholders' equity. (Equity on December 31, 2015, was $950.) Debt to assets ratio. Times interest earned 2017 2016 Current ratio :1 Inventory turnover. Profit margin. % se % %6 Return on assets. Return on common stockholders' equity. Debt to assets ratio % % % 96 Times interest earned. times times