SHERIDAN COMPANY Balance Sheets December 31 2017 2016 Current assets Cash and cash equivalents $330 $360 500 430 Accounts receivable (net) 590 520 Inventory 120 160 Prepaid expenses Total current assets 1.540 1.470 Investments 40 40 420 380 Property, plant, and equipment (net) 530 510 Intangibles and other assets $2,530 $2.400 Total assets $930 $820 Current liabilities 540 510 Long-term liabilities Stockholders' equity-common 1,060 1,070 Total liabilities and stockholders' equity $2.530 $2,400 SHERIDAN COMPANY Income Statements For the Year Ended December 31 2017 2016 Sales revenue $3,930 $3,590 Costs and expenses Cost of goods sold 985 920 Selling & administrative expenses 2,400 2.330 Interest expense 25 20 Total costs and expenses 3,410 3,270 Income before income taxes 520 320 Income tax expense 156 96 Net income $364 $ 224 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places, 4.183 and all other answers to 1 decimal place, es. 1.8 or 12.6%) (a) (b) (c) Current ratio Inventory turnover. (Inventory on 12/31/15, was $390) Proht margin Return on assets. (Assets on 12/31/15, were $2,420.) Return on common stockholders equity. (Stockholders equity on 12/31/15, was $990.) (d) le) 17 Debt to assets ratio Times interest earned 2017 2016 Current ratio 1 Inventory turnover Profit margin Return on assets Return on common stockholders equity Debt to assets ratio Times interest earned