our aiswer Ts partlally correct. The condensed financial statements of Blossom Company for the years 2016 and 2017 are presented below. BLOSSOM COMPANY Balance Sheets December 31 (in thousands) 2017 2016 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 630 560 Inventory 580 510 Prepaid expenses 130160 Total current assets 1,670 1.590 Property, plant, and equipment (net) 410 380 170 170 Investments 530 510 Intangibles and other assets $2.780 $2.650 Total assets Current liabilities $980 $950 600 500 Long-term liabilities 1.200 1.200 Stockholders' equity-common Total liabilities and stockholders equity $2.780 $2.650 BLOSSOM COMPANY Income Statements BLOSSOM COMPANY Income Statements For the Year Ended December 31 (in thousands) 2017 2016 $3,920 $3,580 Sales revenue Costs and expenses Cost of goods sold 1.130 1,050 Selling & administrative expenses 2,400 2,330 10 20 Interest expense 3,540 3,400 Total costs and expenses 380 180 Income before income taxes 152 72 Income tax expense $228$ 108 Net income Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places, eg 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 12.6% (a) Current ratio. Inventory turnover. (Inventory on December 31, 2015, was $440.) (b) (c) Profit margin. Return on assets. (Assets on December 31, 2015, were $2.180.) (d) ,2015, was $930.) (e) Return on common stockholders equity (Equity on December 31 (f) Debt to assets ratio. (g) Times interest earned ( (e) Return on common stockholders'equity.(Equity on December 31, 2015, was $930.) (f) Debt to assets ratio. Times interest earned. (g) 2016 2017 1.7 :1 1.7 :1 Current ratio. 1.9 2.1 Inventory turnover. 31% 5.8 % Profit margin. 8.4 | 96 Return on assets 4 % 8.4% Return on common stockholders' equity. .55 | % L,0.57 | 96 Debt to assets ratio. 2.5 times 2.5 times Times interest earned