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Current Attempt in Progress The condensed financial statements of Carla Vista Co. for the years 2021 and 2022 are as follows. CARLA VISTA CO.
Current Attempt in Progress The condensed financial statements of Carla Vista Co. for the years 2021 and 2022 are as follows. CARLA VISTA CO. Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and cash equivalents $326 $385 Accounts receivable (net) 630 560 Inventory 580 510 Prepaid expenses 130 160 Total current assets 1,666 1,615 Investments 170 170 Property, plant, and equipment (net) 414 380 Investments 170 170 Property, plant, and equipment (net) 414 380 Intangibles and other assets 530 485 Total assets $2,780 $2,650 Current liabilities $980 $950 Long-term liabilities 600 500 Stockholders' equity-common 1,200 1,200 Total liabilities and stockholders' equity $2,780 $2,650 CARLA VISTA CO. Income Statements For the Year Ended December 31 (in thousands) 2022 2021 $3,920 $3,580 Sales revenue Costs and expenses Cost of goods sold 1.090 940 CARLA VISTA CO. Income Statements For the Year Ended December 31 (in thousands) 2022 2021 $3,920 $3,580 Sales revenue Costs and expenses Cost of goods sold 1,090 940 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,500 3,290 Income before income taxes 420 290 Income tax expense 168 116 Net income $252 $174 Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turnover to 2 decimal places, e.g 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, 2020, was $430.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2020, were $2,530.) (e) Return on common stockholders' equity. (Equity on December 31, 2020, was $930.) (f) Debt to assets ratio. (g) Times interest earned. Current ratio. Inventory turnover. Profit margin. Return on assets. 2022 :1 2021 :1 do % % % % Return on common stockholders' equity. % % Debt to assets ratio. Times interest earned. eTextbook and Media % % times ti
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