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The condensed financial statements of Blossom Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) BLOSSOM COMPANY Balance Sheets December

The condensed financial statements of Blossom Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.)

BLOSSOM COMPANY Balance Sheets December 31

2022

2021

Current assets
Cash and cash equivalents

$330

$360

Accounts receivable (net)

670

600

Inventory

500

430

Prepaid expenses

120

160

Total current assets

1,620

1,550

Investments

210

210

Property, plant, and equipment (net)

420

380

Intangibles and other assets

530

510

Total assets

$2,780

$2,650

Current liabilities

$1,100

$990

Long-term liabilities

450

420

Stockholders equitycommon

1,230

1,240

Total liabilities and stockholders equity

$2,780

$2,650

BLOSSOM COMPANY Income Statements For the Year Ended December 31

2022

2021

Sales revenue

$3,840

$3,500

Costs and expenses
Cost of goods sold

1,155

1,090

Selling & administrative expenses

2,400

2,330

Interest expense

25

20

Total costs and expenses

3,580

3,440

Income before income taxes

260

60

Income tax expense

78

18

Net income

$ 182

$ 42

Compute the following ratios for 2022 and 2021. (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) Current ratio.
(b) Inventory turnover. (Inventory on 12/31/20 was $420.)
(c) Profit margin.
(d) Return on assets. (Assets on 12/31/20 were $2,370.)
(e) Return on common stockholders equity. (Stockholders equity on 12/31/20 was $950.)
(f) Debt to assets ratio.
(g) Times interest earned.

2022

2021

Current ratio.

Enter a number for Current ratio rounded to two decimal places

:1

Enter a number for Current ratio rounded to two decimal places

:1
Inventory turnover.

Enter Inventory turnover in times rounded to two decimal places

times

Enter Inventory turnover in times rounded to two decimal places

times
Profit margin.

Enter Profit margin in percentages rounded to one decimal place

%

Enter Profit margin in percentages rounded to one decimal place

%
Return on assets.

Enter Return on assets in percentages rounded to one decimal place

%

Enter Return on assets in percentages rounded to one decimal place

%
Return on common stockholders equity.

Enter Return on common stockholders equity in percentages rounded to one decimal place

%

Enter Return on common stockholders equity in percentages rounded to one decimal place

%
Debt to assets ratio.

Enter Debt to assets ratio in percentages rounded to one decimal place

%

Enter Debt to assets ratio in percentages rounded to one decimal place

%
Times interest earned.

Enter a number for Times interest earned rounded to one decimal place

times

Enter a number for Times interest earned rounded to one decimal place

times

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