Current Attempt in Progress Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2020 2019 Net sales $4,750 $5,501 Cost of goods sold 3,400 3,901 Net income Accounts receivable 555 65 151 75 108 Inventory 1,150 1,250 Total assets 2,950 3,250 Total common stockholders' equity 900 1,131 Compute the following ratios for 2020. (Round asset turnover to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, eg. 1.8 or 2.5%) (e) Profit margin (b) Asset turnover (c) Return on assets (d) Return on common stockholders' equity (6) Gross profit rate times % WILDHORSE CO. Balance Sheets December 31 (In thousands) 2020 2019 A Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 550 480 Inventory 660 590 Prepaid expenses 130 160 Total current assets 1,670 1,590 Property, plant, and equipment (net) 410 380 Investments 90 90 Intangibles and other assets 530 510 Total assets $2,700 $2,570 Current liabilities $900 $870 Long-term liabilities 680 580 Stockholders' equity-common 1,120 1,120 Total liabilities and stockholders' equity $2,700 $2,570 WILDHORSE CO. Income Statements For the Year Ended December 31 (in thousands) 2020 2019 $4.000 $3,660 Sales revenue Costs and expenses Cost of goods sold 1,050 970 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,460 3,320 Income before income taxes 540 340 Income tax expense 216 136 Net income $324 $ 204 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 place, e.g. 1.8 or 12.6%) (a) Current ratio. (b) Inventory turnover. (Inventory on December 31, 2018, was $350.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2018, were $2,780.) (e) Return on common stockholders' equity. (Equity on December 31, 2018, was $980.) (0) Debt to assets ratio. (8) Times interest earned. (a) Current ratio. (b) Inventory turnover. (c) Profit margin (d) Return on assets. (e) Return on common stockholders' equity. (f) Debt to assets ratio. (g) Times interest earned 2020 :1 % 2019 :1 times times