CALCULATOR PRINTER VERS Do It! Review 13-03 The condensed financial statements of Cullumber Company for the years 2019 and 2020 are presented as follows. (Amounts in thousands.) CULLUMBER COMPANY Balance Sheets December 31 2020 2019 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 600 530 Inventory 500 430 Prepaid expenses 120 160 Total current assets 1,550 1,480 Investments 140 140 Property, plant, and equipment 420 380 Intangibles and other assets 530 510 Total assets $2,640 $2,510 Current liabilities $1,030 $920 Stockholders' equity-common Long-term liabilities Total liabilities and stockholders' equity CULLUMBER COMPANY Income Statements For the Years Ended December 31 450 4201 1,160 1.170 $2,640 $2,510 to search 2020 2019 hp 404 ENG CULLUMBER COMPANY Income Statements For the Years Ended December 31 4,510 2020 2019 Sales revenue $3,840 $3,500 Costs and expenses Cost of goods sold 1,085 1,020 Selling & administrative expenses 2,400 2,330 Interest expense 25 20 Total costs and expenses 3.510 3,370 Income before income taxes 330 130 99 39 $231 $91 Income tax expense Net income Compute the following ratios for 2020 and 2019. (Round current ratio and inventory turnover to 2 decimal places/eg. 1.83 and all other answers to 1 decimal face 1.8 or 12.6%.) (a) Current ratio. (b) Inventory turnover. (Inventory on 12/31/18, was $360.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/18, were $2,630.) (e) Return on common stockholders' equity. (Stockholders' equity on 12/31/18, was $990.) (f) Debt to assets ratio.. 7:56 AM d ENG 12/11/2000 Time: 09:01 AM / Remaining: 124 min. (a) Current ratio. (b) Inventory turnover. (Inventory on 12/31/18, was $360.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/18, were $2,630.) (e) (f) Return on common stockholders' equity. (Stockholders' equity on 12/31/18, was $990.) Debt to assets ratio. (g) Times interest earned. (a) Current ratio (b) Inventory turnover (c) Profit margin 2019 2020 :1 :1 times times % 9/ 96 0/0 0% (d) Return on assets % (e) Return on common stockholders' equity 96 0/0 (f) Debt to assets ratio times times (9) Times interest earned