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The condensed financial statements of Cullumber Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) Total current assets Investments 1,7802101,710210
The condensed financial statements of Cullumber Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) Total current assets Investments 1,7802101,710210 Property, plant, and equipment (net) 420380 Intangibles and other assets Total assets Current liabilities $1,100$990 Long-term liabilities 610580 Stockholders' equity-common 1,2301,240 Total liabilities and stockholders' equity $2,810$2,940 CULLUMBER COMPANY Income Statements For the Year Ended December 31 Costs and expenses Costofgoodssold1,1551,090 Selling \& administrative expenses 2,4002,330 Interest expense Total costs and expenses Income before income taxes 2520 Income tax expense Net income \( \$ 2 9 4 \longdiv { \hline \$ 1 5 4 } \) Compute the following ratios for 2022 and 2021. (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 12/31/20, was $390.) (c) Profit margin. (d) Return on assets. (Assets on 12/31/20, were $2,070. ) (e) Return on common stockholders' equity. (Stockholders' equity on 12/31/20, was $990.) (f) Debt to assets ratio. (g) Times interest earned. Current ratio. :1 :1 Inventory turnover. Profit margin. % % Return on assets. % % Return on common stockholders' equity. % % Debt to assets ratio. % % Times interest earned. times times
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