Current Attempt in Progress The condensed financial statements of Crane Company for the years 2021 and 2022 are presented below. CRANE COMPANY Balance Sheets December 31 (in thousands) 2022 2021 $330 630 580 $360 560 510 160 130 1,670 1,590 380 410 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment (net) Investments Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity 170 170 530 510 $2,780 $980 600 $2,650 $950 500 1,200 $2,650 1,200 $2,780 CRANE COMPANY Income Statements For the Year Ended December 31 (in thousands) 2022 2021 Sales revenue $3,920 $3,580 Costs and expenses Cost of goods sold Selling & administrative expenses Interest expense Total costs and expenses Income before income taxes 1,130 2,400 10 1,050 2,330 20 3,540 3,400 380 180 Income tax expense 152 72 Net income $ 228 $ 108 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) (b) (c) (d) Current ratio. Inventory turnover. (Inventory on December 31, 2020, was $430.) Profit margin. Return on assets. (Assets on December 31, 2020, were $2,530.) Return on common stockholders' equity. (Equity on December 31, 2020, was $930.) Debt to assets ratio. Times interest earned. (e) (f) (g) 2022 2021 Current ratio. :1 :1 Inventory turnover. Profit margin. % % Return on assets. % % Return on common stockholders' equity. % % Debt to assets ratio. % % Times interest earned. times times