The condensed financial statements of Blossom Company for the years 2016 and 2017 are presented below. 490 BLOSSOM COMPANY Balance Sheets December 31 (in thousands) 2017 2016 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 510 440 Inventory 560 Prepaid expenses 130 160 Total current assets 1,530 1,450 Property, plant, and equipment (net) 410 Investments Intangibles and other assets 530 510 Total assets $2,520 $2.390 Current liabilities $860 $830 Long-term liabilities 480 Stockholders' equity-common 1,080 1.OBO Total liabilities and stockholders' equity $2,520 $2,390 380 580 BLOSSOM COMPANY Income Statements For the Year Ended December 31 (In thousands) 2017 2016 Sales revenue $3,900 $3,560 Costs and expenses Cost of goods sold 1.010930 Selling & administrative expenses 2,400 2,330 Interest expense 20 Total costs and expenses 3,280 Income before income taxes 280 Income tax expense Net income $ 168 112 Net income $ 288 $168 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places, eg 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 December 31, 2015, was $360.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2015, were $2,360.) (e) Return on common stockholders' equity. (Equity on December 31, 2015, was $910.) (1) Debt to assets ratio. (g) Times interest earned. 2017 Current ratio. Inventory turnover * Profit margin. * * Return on assets. Return on common stockholders' equity. Debt to assets ratio Times interest earned. * times eTextbook and Media Attempts: 1 of 5 used Save for Later Submit Answer