Problem 13-4 (Part Level Submission)

The following financial information is for Crane Company.

CRANE COMPANY Balance Sheets December 31
Assets		2017		2016
Cash		$ 72,000		$ 64,000
Debt investments (short-term)		54,000		42,000
Accounts receivable		104,000		91,000
Inventory		230,000		165,000
Prepaid expenses		22,000		25,000
Land		134,000		134,000
Building and equipment (net)		261,000		189,000
Total assets		$877,000		$710,000
Liabilities and Stockholders Equity
Notes payable		$171,000		$108,000
Accounts payable		65,000		50,000
Accrued liabilities		41,000		41,000
Bonds payable, due 2020		249,000		172,000
Common stock, $10 par		207,000		207,000
Retained earnings		144,000		132,000
Total liabilities and stockholders equity		$877,000		$710,000

CRANE COMPANY Income Statements For the Years Ended December 31
		2017		2016
Sales revenue		$896,000		$796,000
Cost of goods sold		648,000		574,000
Gross profit		248,000		222,000
Operating expenses		189,000		165,000
Net income		$ 59,000		$ 57,000

Additional information:

1.		Inventory at the beginning of 2016 was $117,000.
2.		Accounts receivable (net) at the beginning of 2016 were $88,000.
3.		Total assets at the beginning of 2016 were $642,000.
4.		No common stock transactions occurred during 2016 or 2017.
5.		All sales were on account.

(a1)

Compute the liquidity and profitability ratios of Crane Company for 2016 and 2017. (Round current ratio and asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 1.8%. If % change is a decrease show the numbers as negative, e.g. -1.83% or (1.83%).)

		2017			2016			% Change
LIQUIDITY
Current ratio			:1			:1			%
Accounts receivables turnover			times			times			%
Inventory turnover			times			times			%

		2017			2016			% Change
PROFITABILITY
Profit margin			%			%			%
Asset turnover			times			times			%
Return on assets			%			%			%
Earnings per share		$			$				%