CRANE COMPANY Statement of Financial Position December 31 2024 2023 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 570 500 Inventory 580 510 Prepaid expenses 120 160 Total current assets 1,600 1,530 Investments 110 110 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2,660 $2,530 Current liabilities $1,000 $890 Long-term liabilities 530 500 Common shares 730 710 Retained earnings 400 430 Total liabilities and stockholders' equity $2,660 $2,530 CRANE COMPANY Income Statements For the Years Ended December 31 2024 2023 $3,920 $3,580 Net Sales Expenses Cost of goods sold 1,055 990 Selling and administrative expenses 2,400 2,330 Interest expense 25 20 Total expenses 3,480 3,340 Income before income taxes: 440 240 Income tax expense 132 72 Net income $308 $168 Calculate the following ratios for 2024 and 2023. (Round current ratio and inventory turnover to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, eg. 1.8 or 12.6%) (a) Current ratio. (b) Inventory turnover. (Inventory on December 31, 2022 was $450.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2022 were $2,670.) Return on common shareholders' equity. (On December 31, 2022, Common shares was $660 and the Retained earnings (e) balance was $280.) (f) Debt to assets ratio. (g) Interest coverage. Current ratio Inventory turnover Profit margin Return on assets 2024 :1 times % 2023 :1 times % % % Return on common shareholders' equity % % Debt to assets ratio % % Interest coverage eTextbook and Media times times