Problem 9-2 The comparative statements of Blossom Company are presented here. 2016 $1,751,600 1,007,100 BLOSSOM COMPANY Income Statements For the Years Ended December 31 2017 Net sales $1,891,640 Cost of goods sold 1,059,640 Gross profit 832,000 Selling and administrative expenses 501,100 Income from operations 330,900 Other expenses and losses Interest expense 23,100 Income before income taxes 307,800 Income tax expense 93,100 Net income $ 214,700 744,500 480,100 264,400 21,100 243,300 74,100 $ 169,200 2017 2016 BLOSSOM COMPANY Balance Sheets December 31 Assets Current assets Cash Debt investments (short-term) Accounts receivable S 60,100 74,000 118,900 $ 64,200 50,000 103,900 ment BLOSSOM COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets Cash Debt investments (short-term) Accounts receivable Inventory Total current assets Plant assets (net) $ 60,100 74,000 118,900 127,100 380,100 659,000 $ 64,200 50,000 103,900 116,600 334,700 530,300 51,039,100 5865,000 $ 161,100 44,600 $146,500 43,100 Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock (55 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 205,700 230,000 435,700 189.600 210,000 399,600 290,000 313.400 300.000 165,400 603,400 465 400 51,039.100 5865.000 All sales were on account. Net cash provided by operating activities for 2017 was $221,000. Capital expenditures were $135,000, and cash dividends were $66,700. Compute the following ratios for 2017. (Round current ratio, earnings per share and asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 calculation.) (a) Earnings per share $ (b) Return on common stockholders' equity 9 (c) Return on assets % (d) Current ratio :1 (e) Accounts receivable turnover times (f) Average collection period days (9) Inventory turnover times (h) Days in inventory days (1Times interest earned times 6) Asset turnover times (k) Debt to assets ratio 96 (0) Free cash flow