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Compute the liquidity and profitability ratios of Blossom Company for 2018 and 2019. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%. If
Compute the liquidity and profitability ratios of Blossom Company for 2018 and 2019. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83\%. If \% change is a decrease show the numbers as negative, e.g. 1.83% or (1.83\%).) 2018 2019 \% Change PROFITABILITY Profit margin Asset turnover Return on assets Earnings per share % % times times % % $ \% \% \% $ % The following financial information is for Blossom Company. Additional information: 1. Inventory at the beginning of 2018 was $116,000. 2. Accounts receivable (net) at the beginning of 2018 were $89,000. 3. Total assets at the beginning of 2018 were $631,000. 4. No common stock transactions occurred during 2018 or 2019. 5. All sales were on account. \begin{tabular}{lrr} \hline Liabilities and Stockholders' Equity & & \\ Notes payable & $170,000 & $102,000 \\ Accounts payable & 66,000 & 54,000 \\ Accrued liabilities & 41,000 & 41,000 \\ Bonds payable, due 2022 & 249,000 & 171,000 \\ Common stock, \$10 par & 198,000 & 198,000 \\ Retained earnings & 165,000 & 142,000 \\ \hline Total liabilities and stockholders' equity & $889,000 & $708,000 \end{tabular} The following are three independent situations and a ratio that may be affected. For each situation, compute the affected ratio (1) as of December 31, 2019, and (2) as of December 31, 2020, after giving effect to the situation. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%. If \% change is a decrease show the numbers as negative, e.g. 1.83% or (1.83\%).)
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