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The condensed financial statements of Cullumber Company for the years 2019 and 2020 are presented as follows. (Amounts in thousands) CULLUMBER COMPANY Balance Sheets December

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The condensed financial statements of Cullumber Company for the years 2019 and 2020 are presented as follows. (Amounts in thousands) CULLUMBER COMPANY Balance Sheets December 31 2020 2019 Current assets $330 $360 Cash and cash equivalents Accounts receivable (net) 570 500 Inventory 600 530 Prepaid expenses 120 160 Total current assets 1,620 1,550 Investments 110 110 420 380 Property, plant, and equipment Intangibles and other assets 530 510 Total assets $2.680 $2.550 Current liabilities $1,000 $890 Long-term liabilities 550 520 Stockholders' equity-common 1.130 1.140 Total liabilities and stockholders' equity $2,680 $2,550 CULLUMBER COMPANY Income Statements For the Years Ended December 31 2020 2019 Sales revenue $3,940 $3,600 Costs and expenses 1,055 990 2.400 2330 25 20 Cost of goods sold Selling & administrative expenses Interest expense Total costs and expenses Income before income taxes Income tax expense 3,480 3,340 460 260 138 78 Net income $322 $ 182 Compute the following ratios for 2020 and 2019.(Round current ratio and inventory turnover to 2 decimal places, eg. 1.83 and all other answers to 1 decimal place, c.8. 1.8 or 12.6%.) - / 1 = (a) Current ratio. (b) Inventory turnover. (Inventory on 12/31/18, was $350.) (c) Profit margin (d) Return on assets. (Assets on 12/31/18, were $2.700.) (e) Return on common stockholders' equity. (Stockholders equity on 12/31/18, was $940.) (f) Debt to assets ratio. g) Times interest earned. 2020 2019 (a) Current ratio :1 (b) Inventory turnover (c) Profit margin times times 2 9 (d) Return on assets % (e) Return on common stockholders' equity %6 56 (A Debt to assets ratio % (s) Times interest earned times times

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