December 31 (in thousands) 2022 2021 Current assets Cash and cash equivalents $320 $360 Accounts receivable (net) 460 410 Inventory 480 410 Prepaid expenses 130 160 Total current assets 1,390 1,340 Investments 1 10 Property, plant, and equipment (net) 410 400 Other assets 540 530 Total assets $2,341 $2,280 Current liabilities $820 $850 Long-term liabilities 441 350 Stockholders' equity-common 1,080 1,080 Total liabilities and stockholders' equity $2,341 $2,280 CullumberCompany Income Statements For the Years Ended December 31 (in thousands) 2022 2021 $3,870 $3,490 Net sales Expenses Cost of goods sold 950 880 Selling and administrative expenses 2,440 2,360 Interest expense 10 20 Total expenses 3,400 3,260 Income before income taxes 470 230 Income tax expense 188 92 Net income $282 $138 Compute the following ratios for 2022 and 2021. Inventory on December 31, 2020, was $330. Assets on December 31, 2020, were $1,890. Stockholders' Equity - Common on December 31, 2020, was $950. (Round current ratio and inventory turnover to 2 decimal places, e.g. 15.25. Round other answers to 1 decimal place, e.g. 15.2 or 15.2%.) (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 2022 1.70 :1 2021 1.58 :1 1 2.13 times 2.38 times 7.3 % 4.0 % 12.2 % 6.6 % % % times % % times