Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Blossom Company Balance Sheets December 31 (in thousands) 20252024 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets $330480470130$3604104001601,330
Blossom Company Balance Sheets December 31 (in thousands) 20252024 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets $330480470130$3604104001601,330 Investments 20 20 Property, plant, and equipment (net) 410380 Other assets Total assets Current liabilities Long-term liabilities 490390 Stockholders' equity-common Total liabilities and stockholders' equity $2,240$2,370 a. Current ratio. b. Inventory turnover. (Inventory on December 31,2023 , was $350.) C. Profit margin. d. Return on assets. (Assets on December 31,2023 , were $1,910.) e. Return on common stockholders' equity. (Stockholders' equity-common on December 31, 2023, was $910.) f. Debt to assets ratio. g. Times interest earned. Current ratio :1 :1 Inventory turnover times times Profit margin % % Return on assets % % Return on common stockholders' equity % % Debt to assets ratio % % Times interest earned times times Compute the following ratios for 2025 and 2024. (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\%.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started