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The condensed financial statements of Lily Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.) LILY COMPANY Balance Sheets December

The condensed financial statements of Lily Company for the years 2021 and 2022 are presented as follows. (Amounts in thousands.)

LILY COMPANY Balance Sheets December 31

2022

2021

Current assets

Cash and cash equivalents

$ 378 $ 367

Accounts receivable (net)

382 472

Inventory

400 472

Prepaid expenses

160 122

Total current assets

1,320 1,433

Investments

14 15

Property, plant, and equipment (net)

350 394

Intangibles and other assets

480 540

Total assets

$2,164 $2,382

Current liabilities

$ 772 $ 898

Long-term liabilities

388 404

Stockholders equitycommon

1,004 1,080

Total liabilities and stockholders equity

$2,164 $2,382

LILY COMPANY Income Statements For the Years Ended December 31

2022

2021

Net sales

$3,790 $3,820

Expenses

Cost of goods sold

904 976

Selling and administrative expenses

2,345 2,392

Interest expense

25 26

Total expenses

3,274 3,394

Income before income taxes

516 426

Income tax expense

148 75

Net income

$ 368 $ 351

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) Current ratio.
(b) Inventory turnover. (Inventory on 12/31/20 was $311.)
(c) Profit margin.
(d) Return on assets. (Assets on 12/31/20 were $1,906.)
(e) Return on common stockholders equity. (Stockholders' equitycommon on 12/31/20 was $896.)
(f) Debt to assets ratio.
(g) Times interest earned.

2022

2021

(a)

Current ratio

enter ratio rounded to 2 decimal places :1 enter ratio rounded to 2 decimal places :1

(b)

Inventory turnover

enter a number of times rounded to 2 decimal places times enter a number of times rounded to 2 decimal places times

(c)

Profit margin

enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %

(d)

Return on assets

enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %

(e)

Return on common stockholders equity

enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %

(f)

Debt to assets ratio

enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place %

(g)

Times interest earned

enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times

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