2016 CULLUMBER COMPANY Balance Sheets December 31 (in thousands) 2017 Current assets Cash and cash equivalents $330 Accounts receivable (net) 650 Inventory 620 Prepaid expenses 130 Total current assets 1,730 Property, plant, and equipment (net) 410 Investments 190 Intangibles and other assets 530 Total assets $2,860 Current liabilities $1,000 Long-term liabilities 640 Stockholders' equity-common 1.220 Total liabilities and stockholders' equity $2.860 $360 580 550 160 1,650 380 190 510 $2.730 $970 540 1.220 $2.730 CULLUMBER COMPANY Income Statements For the Year Ended December 31 (in thousands) 2017 2016 Sales revenue $3.960 $3,620 Costs and expenses Cost of goods sold 1.150 1,070 Selling & administrative expenses 2.400 2.330 Interest expense 10 20 Total costs and expenses 3,560 3.420 income before income taxes 400 200 Income tax expense 160 80 Net income $240 $ 120 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal answers to 1 decimal place. eg. 1.8 or 12.6%) 2017 2016 Current ratio. 168 .1 165 1 Inventory turnover. 223 2.28 Proht margin 5.92 % 3.08 % Return on assets 9.10 % 4.89 % Return on common stockholders' equity 2017 x 9,55 Debt to assets ratio 56.06 % 53.69 Times interest earned 39 times 10 times