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BLOSSOM COMPANY Balance Sheets December 31 2020 2019 Current assets $330 $360 640 570 Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses 520
BLOSSOM COMPANY Balance Sheets December 31 2020 2019 Current assets $330 $360 640 570 Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses 520 450 160 1,610 Total current assets 1,610 1,540 180 Investments 180 420 Property, plant, and equipment Intangibles and other assets 380 510 530 Total assets $2,740 $2,610 $960 $1,070 470 1,200 440 Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity 1,210 $2,740 $2,610 2019 $3,520 BLOSSOM COMPANY Income Statements For the Years Ended December 31 2020 Sales revenue $3,860 Costs and expenses Cost of goods sold 1,125 Selling & administrative expenses 2,400 Interest expense 25 Total costs and expenses 3,550 Income before income taxes 310 Income tax expense 93 Net income $ 217 1,060 2,330 20 3,410 110 33 $ 77 Compute the following ratios for 2020 and 2019. (Round current ratio and inventory turnov (a) (b) (c) (d) Current ratio. Inventory turnover. (Inventory on 12/31/18, was $350.) Profit margin. Return on assets. (Assets on 12/31/18, were $2,080.) Return on common stockholders' equity. (Stockholders' equity on 12/31/18, was $960.) Debt to assets ratio. Times interest earned. (e) (f) (9)
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