Do It! Review 9-3 |x Your answer is incorrect. Try again. The condensed financial statements of Blossom Company for the years 2016 and 2017 are presented as follows. (Amounts in thousands.) BLOSSOM COMPANY Balance Sheets December 31 2017 2016 $360 570 450 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment (net) Intangibles and other assets 160 $330 640 520 120 1,610 180 420 530 1,540 180 380 510 $2,740 $2,610 Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity $960 440 $1,070 470 1,200 $2,740 1,210 $2,610 2016 $3,520 BLOSSOM COMPANY Income Statements For the Year Ended December 31 2017 Sales revenue $3,860 Costs and expenses Cost of goods sold 1,125 Selling & administrative expenses 2,400 Interest expense Total costs and expenses 3,550 Income before income taxes 310 Income tax expense 1,060 2,330 25 20 3,410 110 93 33 Net income $ 217 $ 77 Compute the following ratios for 2017 and 2016. (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 12/31/15 was $350.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/15 were $2,080.) (e) Return on common stockholders' equity. (Stockholders' equity on 12/31/15 was $960.) (f) Debt to assets ratio. (9) Times interest earned. 2017 2016 Current ratio. 1:1 Inventory turnover. times times xxxx XERRRRRRRRRR Profit margin. Return on assets. Return on common stockholders' equity. Debt to assets ratio. Times interest earned. times times