2016 BLOSSOM COMPANY Balance Sheets December 31 (in thousands) 2017 Current assets Cash and cash equivalents $330 Accounts receivable (net) 480 Inventory 470 Prepaid expenses 130 Total current assets 1.410 Property, plant, and equipment (net) 410 Investments 20 Intangibles and other assets 530 Total assets $2.370 Current liabilities $830 Long-term liabilities 490 Stockholders' equity-common 1,050 Total liabilities and stockholders' equity $2.370 $360 410 400 160 1.330 380 20 510 $2.240 $800 390 1,050 $2,240 BLOSSOM COMPANY Income Statements For the Year Ended December 31 (in thousands) 2017 2016 Sales revenue $3,810 $3.470 Costs and expenses Cost of goods sold 980 900 Selling & administrative expenses 2.400 2.330 Interest expense 10 20 Total costs and expenses 3.390 3.250 Income before income taxes 420 220 Income tax expense 168 88 Net income $ 252 $ 132 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, eg. 1.8 or 12.6%) (a) Current ratio (b) Inventory turnover. (Inventory on December 31, 2015, was $350.) (c) Profit margin (d) Return on assets. (Assets on December 31, 2015. were $1.910.) le) Return on common stockholders' equity. (Equity on December 31, 2015, was $910.) (F) Debt to assets ratio (g) Times interest earned. 2017 2016 Current ratio. 1 Inventory turnover. Profit margin % Return on assets. % %6 %6 Return on common stockholders' equity. Debt to assets ratio. %6 % Times interest earned. times times