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The condensed financial statements of Coronado Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) CORONADO COMPANY Balance Sheets
The condensed financial statements of Coronado Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) CORONADO COMPANY Balance Sheets December 31 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment (net) Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity 2022 $ 330 410 368 156 1,264 14 360 488 $2,126 $794 388 944 $2.126 2021 $359 478 432 134 1,403 14 390 508 $2,315 $914 418 983 $2.315 Net sales CORONADO COMPANY Income Statements For the Years Ended December 31 Expenses Cost of goods sold 888 Selling and administrative expenses 2,325 Interest expense 23 Total expenses Income before income taxes Income tax expense Net income. 2022 $3,990 3,236 754 174 $580 2021 $3,790 966 2,396 20 3,382 408 76 $332 Compute the following ratios for 2022 and 2021. (Round current ratio and invertory turnover ratio to 2 decimal places, e.g. 1.62 or 1.62% and all other answers to 1 decimal place, e.g. 1.6 or 1.6%) (a) (b) (c) (d) (e) (f) (8) Current ratio. Inventory turnover. (Inventory on 12/31/20 was $344) Profit margin. Return on assets. (Assets on 12/31/20 were $1,894.) Return on common stockholders' equity. (Stockholders' equity-common on 12/31/20 was $904.) Debt to assets ratio. Times interest earned.
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a Current ratio For 2022 Current Ratio Current Assets Current Liabilities Current Ratio 1264 794 Current Ratio 159 For 2021 Current Ratio Current Asse...Get Instant Access to Expert-Tailored Solutions
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