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The condensed financial statements of Coronado Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) Current assets CORONADO COMPANY Balance
The condensed financial statements of Coronado Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) Current assets CORONADO COMPANY Balance Sheets December 31 2022 2021 Cash and cash equivalents $370 $368 Accounts receivable (net) 414 468 Inventory 390 480 Prepaid expenses 166 140 Total current assets 1,340 1,456 Investments 14 10 Property, plant, and equipment (net) 350 400 Intangibles and other assets 4841 508 Total assets $2,188 $2,374 Current liabilities $766 $908 Total assets Current liabilities $2,188 $2,374 $766 $908 Long-term liabilities 350 428 Stockholders' equity-common 1,072 1,038 Total liabilities and stockholders' equity $2,188 $2,374 CORONADO COMPANY Income Statements For the Years Ended December 31 2022 2021 $3,810 $3,820 Net sales Expenses Cost of goods sold 908 942 Selling and administrative expenses 2.300 2.378 Interest expense 21 25 Total expenses 3.229 3,345 Income before income taxes 581 475 Income tax expense 142 81 Net income $439 $394 Income tax expense 142 81 Net income $439 $394 Compute the following ratios for 2022 and 2021. (Round current ratio and Invertory turnover ratio to 2 decimal places, eg. 1.62 or 1.62% and all other answers to 1 decimal place, eg. 1.6 or 1.6%) (a) Current ratio. @ (b) Inventory turnover. (Inventory on 12/31/20 was $331.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/20 were $1,912.) (e) (f) Return on common stockholders' equity. (Stockholders' equity-common on 12/31/20 was $888.) Debt to assets ratio. Times interest earned. (a) Current ratio (b) Inventory turnover (c) Profit margin (d) Return on assets (e) Return on common stockholders' equity (f) Debt to assets ratio (g) Times interest earned 2022 :1 times x 2021 1 times times times
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