The condensed financial statements of Blossom Company for the years 2016 and 2017 are presented below. BLOSSOM COMPANY Balance Sheets December 31 (in thousands) 2017 2016 $330 630 580 $360 560 5101 130 160 1,670 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment (net) Investments Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity 410 170 530 1,590 380 170 510 $2,780 $2,650 $980 600 $950 500 1,200 1,200 $2.780 $2,650 BLOSSOM COMPANY Income Statements For the Year Ended December 31 (in thousands) 2017 2016 Sales revenue $3,920 $3,580 Costs and expenses Cost of goods sold 1,130 1,050 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,540 3,400 Income before income taxes 380 180 Income tax expense 152 72 Net income $ 228 $ 108 Compute the following ratios for 2017 and 2016. (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 December 31, 2015, was $440.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2015, were $2,180.) (e) Return on common stockholders' equity. (Equity on December 31, 2015, was $930.) (1) Debt to assets ratio. (9) Times interest earned. 2017 2016 x Current ratio. :1 :1 x Inventory turnover. 2.19 X Profit margin. % % x Return on assets. % % x Return on common stockholders' equity. % % :) Debt to assets ratio. % % X x Times interest earned. times times