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The condensed financial statements of Sandhill Company for the years 2021 and 2022 are presented below. SandhillCompany Balance Sheets December 31 (in thousands) 2022
The condensed financial statements of Sandhill Company for the years 2021 and 2022 are presented below. SandhillCompany Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and cash equivalents $330 $390 Accounts receivable (net) 440 430 Inventory 440 400 Prepaid expenses 150 180 Total current assets 1,360 1,400 Investments 1 10 Property, plant, and equipment (net) 430 400 Other assets 530 560 Total assets $2,321 $2,370 Current liabilities $820 $780 Long-term liabilities 511 600 Stockholders' equity-common 990 990 Total liabilities and stockholders' equity $2,321 $2,370 Compute the following ratios for 2022 and 2021. Inventory on December 31, 2020, was $360. Assets on December 31, 2020, were $1,880. Stockholders' Equity - Common on December 31, 2020, was $920. (Round current ratio and inventory turnover to 2 decimal places, e.g. 15.25. Round other answers to 1 decimal place, e.g. 15.2 or 15.2%.) (a) Current ratio (b) Inventory turnover (c) Profit margin (d) Return on assets 2022 :1 times % do 2021 :1 times % % % (e) Return on common stockholders' equity % (f) Debt to assets ratio % (g) Times interest earned times % do % times
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