Question 21 The condensed financial statements of Murawski Company for the years 2016 and 2017 are presented below. (Amounts in thousands.) MURAWSKI COMPANY Balance Sheets December 31 2017 2016 Current assets $ 358 388 388 170 353 490 474 120 1,437 Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses 1,304 12 418 526 $2,393 884 390 1,119 $2,393 Total current assets 13 390 492 $2,199 $ 800 354 1,045 $2,199 Investments Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity MURAWSKI COMPANY Income Statements For the Years Ended December 31 2017 2016 Sales revenue $3,710 $3,800 Costs and expenses Cost of goods sold Selling & administrative expenses Interest expense 896 2,330 25 3,251 459 160 $299 984 2,410 3,416 384 81 $303 Total costs and expenses Income before income taxes Income tax expense Net income Compute the following ratios for 2017 and 2016, (Round current ratio and invertory turnover ratio to 2 decimal places, e.g. 1.62 or 1.62% and all other answers to 1 decimal place, e.g. 1.6 or 1.6%.) (a) Current ratio (b) Inventory turnover. (Inventory on 12/31/15 was $312.) (c) Profit margin ratio. (d) Return on assets. (Assets on 12/31/15 were $1,878.) (e) Return on common stockholders' equity. (Stockholders' equity on 12/31/15 was $882.) (f) Debt to assets ratic (g) Times interest earned 2017 2016 Current ratio Inventory turnover Profit margin ratio Return on assets Return on common stockholders' equity Debt to assets ratio Times interest earned times times 0 0 0 0 0 0 0 times times