Blossom Company Income Statement For the Year Ended December 31, 2017 Net sales $2,232,300 Cost of goods sold 1,026,100 Selling and administrative expenses 924,000 Interest expense 98,000 Income tax expense 70.430 Net income $ 113,770 Blossom Company Balance Sheet December 31, 2017 Assets Current assets Cash $73.900 Debt investments 85.430 Accounts receivable (net) 182.300 Inventory 163.100 Total current assets 504.730 Plant assets (net) 589,000 Total assets $ 1.093.730 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 173,800 Income taxes payable 36.930 Total current liabilities 210.730 Bonds payable 212.500 Total liabilities 423,230 Stockholders' equity Common stock 363.700 Retained earnings 306,800 Total stockholders' equity 670.500 Total liabilities and stockholders' equity $1.093.730 Additional information: The net cash provided by operating activities for 2017 was $204.600. The cash used for capital expenditures was $105,700. The cash used for dividends was $32,430. The weighted average number of shares outstanding during the year was 50,000. (a) Compute the following values and ratios for 2017. (We provide the results from 2016 for comparative purposes.) (Round Current Ratio and Earnings per share to 2 decimal places, eg. 15.25 and Debt to assets ratio to 1 decimal place, eg. 78.9%. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg.(45.) 0 Working capital. (2016: $160.500) (ii) Current ratio. (2016: 165:1) (ii) Free cash flow. (2016: $48,700) (iv) Debt to assets ratio. (2016: 319) V Earnings per share. (2016: 53.15) $ 294000 1 Working capital (T) Current ratio (i) Free cash flow 239 :1 $ 98900 (iv) Debt to assets ratio 38.7 %6 (V) Earnings per share $ 3.15