BLOSSOM COMPANY Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and cash equivalents $326 $385 Accounts receivable (net) 630 560 Inventory 580 510 Prepaid expenses 130 160 Total current assets 1,666 1,615 Investments 170 170 Property, plant, and equipment (net) 414 380 Intangibles and other assets 530 485 Total assets $2,780 $2,650 Current liabilities $980 $950 Long-term liabilities 600 500 Stockholders' equity-common 1,200 1,200 Total liabilities and stockholders' equity $2,780 $2,650 BLOSSOM COMPANY Income Statements For the Year Ended December 31 (in thousands) 2022 2021 Sales revenue $3,920 $3,580 Costs and expenses Cost of goods sold 1,090 1,045 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,500 3,395 Income before income taxes 420 185 Income tax expense 168 74 Net income $ 252 $ 111 Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 12.6%.) (a) Current ratio. (b) Inventory turnover. (Inventory on December 31, 2020, was $440.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2020, were $2,180.) (e) Return on common stockholders' equity. (Equity on December 31, 2020, was $930.) (f) Debt to assets ratio. (g) Times interest earned. 2022 2021 Current ratio. 1.7 :1 1.7 :1 Inventory turnover. 2.35 2.35 Profit margin. % % Return on assets. % % Return on common stockholders' equity. % % INI Debt to assets ratio. % % Times interest earned. times times