SUNLAND COMPANY Balance Sheets December 31 (in thousands) 2020 2019 Current assets Cash and cash equivalents $ 330 $360 Accounts receivable (net) 590 520 Inventory 520 450 Prepaid expenses 130 160 Total current assets 1,570 1,490 Property, plant, and equipment (net) 410 380 Investments 130 130 Intangibles and other assets 530 510 Total assets $ 2,640 $2,510 Current liabilities $ 940 $ 910 Long-term liabilities 540 440 Stockholders' equity-common 1,160 1,160 Total liabilities and stockholders' equity $ 2.640 $ 2.510 SUNLAND COMPANY Income Statements For the Year Ended December 31 (in thousands) 2020 2019 $ 3,860 $3,520 1,090 1,010 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 10 20 3,500 3.360 360 160 144 64 $ 216 $ 96 Compute the following ratios for 2020 and 2019. (Round current ratio and inventory turnover to 2 decimal places, es 1.83 and all other answers to 1 decimal place, es, 1.8 or 12.6%) (a) Current ratio (b) Inventory turnover (Inventory on December 31, 2018, was 5 350) (c) Profit margin. (d) le) Return on assets. (Assets on December 31, 2018, were $ 2.290.) Return on common stockholders' equity. (Equity on December 31, 2018, was $ 950.) Debt to assets ratio. Times interest earned (6) (g) 2020 2019 (a) Current ratio. 167 :1 164 (b) Inventory turnover 1.84 2.24 (c) Profit margin 0.06 96 43 (d) Return on assets. 10.6 % 6.4 (e) Return on common stockholders' equity. 242 35 15.1 (6) Debt to assets ratio 57.7 35 55.3 3 (e) Times interest earned 470 times 14.0 times