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The condensed financial statements of Sheridan Company for the years 2021 and 2022 are presented below. Current liabilities $740$780 Long-term liabilities 631420 SheridanCompany Income Statements
The condensed financial statements of Sheridan Company for the years 2021 and 2022 are presented below. Current liabilities $740$780 Long-term liabilities 631420 SheridanCompany Income Statements For the Years Ended December 31 (in thousands) Net sales Expenses Cost of goods sold $3,7302022$3,450 Selling and administrative expenses 2,4002,360 Interest expense Total expenses 3,390103,20 Income before income taxes \begin{tabular}{rrr} \hline 340 & & 220 \\ 136 & & 88 \\ \cline { 3 - 3 } \cline { 3 - 3 }$204 & & $132 \\ \hline \hline \end{tabular} Compute the following ratios for 2022 and 2021. Inventory on December 31, 2020, was $340. Assets on December 31 , 2020, were $1,920. Stockholders' Equity Common on December 31, 2020, was $900. (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%
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