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Please show ALL MATH The condensed financial statements of Ivanhoe Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) IVANHOE
Please show ALL MATH
The condensed financial statements of Ivanhoe Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) IVANHOE COMPANY Balance Sheets December 31 2022 2021 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 550 480 Inventory 530 460 Prepaid expenses 120 160 Total current assets 1,530 1,460 Investments 90 90 Property, plant, and equipment (net) 420 380 Intangibles and other assets 530 510 Total assets $2,570 $2,440 Current liabilities $980 $870 Long-term liabilities 480 450 Stockholders' equity-common 1,110 1,120 Total liabilities and stockholders' equity $2,570 $2,440 IVANHOE COMPANY Income Statements For the Year Ended December 31 2022 2021 Sales revenue $3,870 $3,530 Costs and expenses Cost of goods sold 1,035 970 Selling & administrative expenses 2,400 2,330 Interest expense 25 20 Total costs and expenses 3.460 3,320 Income before income taxes 410 210 Income tax expense 123 63 Net income $ 287 $ 147 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) Current ratio. (b) Inventory turnover. (Inventory on 12/31/20, was $400.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/20, were $1,980.) (e) Return on common stockholders' equity. (Stockholders' equity on 12/31/20, was $970.) (1) Debt to assets ratio. (g) Times interest earned. 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 timesStep by Step Solution
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