Do It! Review 13-3 The condensed financial statements of Ivanhoe Company for the years 2016 and 2017 are presented as follows. (Amounts in thousands IVANHOE COMPANY Balance Sheets December 31 2017 2016 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses $330$360 640570 460 160 1,620 1,550 180 380 510 $2,750 $2,620 $1,070 $960 450 1,200 1,210 $2,750 $2,620 530 120 Total current assets Investments Property, plant, and equipment (net) Intangibles and other assets 180 420 530 Total assets Current liabilities Long-term liabilities Stockholders' equity-common 480 Total liabilities and stockholders' equity IVANHOE COMPANY Income Statements For the Year Ended December 31 2017 2016 Sales revenue $3,870$3,530 Costs and expenses Cost of goods sold Selling & administrative expenses Interest expense Total costs and expenses Income before income taxes Income tax expense Net income 1,125 1,060 2.330 20 3,410 120 36 $ 84 2,400 25 3,550 320 96 $ 224 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places,e.o. 1.83 and al (b) Inventory turnover. (Inventory on 12/31/15, was $430.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/15, were $2,550.) (e) Return on common stockholders' equity.(Stockholders' equity on 12/31/15, was $920.) (f) Debt to assets ratio. 017 2016 ratio. Inveetory turnover Return on assets. Debt to assets ratio. times