Question 11 of 13 -/4 Income statements For the Years Ended December 31 2020 2019 $3,920 $3,580 1,055 990 2,400 2,330 Sales revenue Costs and expenses Cost of goods sold Selling & administrative expenses Interest expense Total costs and expenses Income before income taxes Income tax expense Net income 25 3,480 20 3,340 240 440 72 132 $ 308 $ 168 Compute the following ratios for 2020 and 2019. (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) (b) (c) (d) (e) Current ratio. Inventory turnover. (Inventory on 12/31/18, was $450.) Profit margin. Return on assets. (Assets on 12/31/18, were $2,670.) Return on common stockholders' equity. (Stockholders' equity on 12/31/18, was $940.) Debt to assets ratio. Times interest earned. (f) (g) Question 11 of 13 -/4 The condensed financial statements of Crane Company for the years 2019 and 2020 are presented as follows. (Amounts in thousands.) CRANE COMPANY Balance Sheets December 31 2020 2019 Current assets $330 $360 500 570 580 510 120 160 Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment Intangibles and other assets 1,600 1,530 110 110 420 380 530 510 Total assets $2,660 $2,530 $890 $1,000 530 500 Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity 1,130 1,140 $2,660 $2,530 Question 11 of 13 -/4 (c) (d) (e) (f) Profit margin. Return on assets. (Assets on 12/31/18, were $2,670.) Return on common stockholders' equity. (Stockholders' equity on 12/31/18, was $940.) Debt to assets ratio. Times interest earned. (g) 2020 2019 (a) Current ratio 1.59 :1 1.72 :1 (b) Inventory turnover 1.94 times 2.06 times (c) Profit margin 7.9 % 4.7 % (d) Return on assets 11.9 % 6.5 % (e) Return on common stockholders' equity 27.1 % 16.2 16.2 % (f) Debt to assets ratio 57.5 % 54.9 % (g) Times interest earned times times Save for Later Last saved 43 minutes ago. Attempts: 0 of 1 used Submit Answer Saved work will be auto-submitted on the due date