The condensed financial statements of Cullumber Company for the years 2016 and 2017 are presented as follows. (Amounts in thousands.) CULLUMBER COMPANY Balance Sheets December 31 2017 2016 Current assets $330 $360 Cash and cash equivalents Accounts receivable (net) 570 500 600 530 Inventory Prepaid expenses Total current assets 120 160 1.620 1,550 Investments 110 110 420 380 Property, plant, and equipment (net) Intangibles and other assets 530 510 Total assets $2,680 $2,550 Current liabilities $1,000 $890 Long-term liabilities 550 520 1.130 1,140 Stockholders' equity-common Total liabilities and stockholders' equity $2,680 $2,550 CULLUMBER COMPANY Income Statements For the Year Ended December 31 2017 2016 Sales revenue $3,940 $3.600 Costs and expenses Cost of goods sold Selling & administrative expenses 1,055 990 2.400 2330 Interest expense 25 20 3,480 3.340 460 260 Total costs and expenses Income before income taxes Income tax expense Net income 138 78 $322 $ 182 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places, e,8. 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 12.6%) (a) (b) (c) (d) Current ratio Inventory turnover. (Inventory on 12/31/15, was $350.) Profit margin Return on assets. (Assets on 12/31/15, were $2,700.) Return on common stockholders equity. (Stockholders' equity on 12/31/15, was $940.) Debt to assets ratio. Times interest earned (e) (g) 2017 2016 Current ratio. :1 :1 Inventory turnover rofit margin % eturn on assets. % Return on assets. % % Return on common stockholders' equity % se Debt to assets ratio % % Times interest earned. times times