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The financial statements of Blossom Company appear below: BLOSSOMCOMPANY Comparative Balance Sheet December 31 Assets 2021 2020 Cash $28,200 $41,000 Debt investments 21,000 61,000 Accounts

The financial statements of Blossom Company appear below:

BLOSSOMCOMPANY Comparative Balance Sheet December 31

Assets

2021

2020

Cash

$28,200 $41,000

Debt investments

21,000 61,000

Accounts receivable (net)

51,000 31,000

Inventory

141,000 171,000

Property, plant and equipment (net)

169,650 201,000

Total assets

$410,850 $505,000

Liabilities and stockholders' equity

Accounts payable

$26,000 $31,000

Short-term notes payable

41,000 91,000

Bonds payable

76,000 161,000

Common stock

161,000 146,000

Retained earnings

106,850 76,000

Total liabilities and stockholders' equity

$410,850 $505,000

BLOSSOMCOMPANY Income Statement For the Year Ended December 31, 2021

Net sales (all on credit)

$366,000

Cost of goods sold

185,000

Gross profit

181,000

Expenses

Interest expense

$12,000

Selling expenses

31,000

Administrative expenses

21,000

Total expenses

64,000

Income before income taxes

117,000

Income tax expense

36,150

Net income

$80,850

Additional information:

a. Cash dividends of $50,000 were declared and paid on common stock in 2021.
b. The weighted-average number of shares of common stock outstanding during 2021 was 50,000.
c. The market price of common stock on December 31, 2021, was $16 per share.
d. Net cash provided by operating activities for 2021 was $71,000.

Using the financial statements and additional information, compute the following ratios for the Blossom Company for 2021. (Use 365 days for calculation. Round Inventory turnover answer to 2 decimal places, e.g. 52.72. Other all answers to 1 decimal place, e.g. 52.7.)

1.

Current ratio

enter ratio rounded to 1 decimal place :1

2.

Return on common stockholders' equity

enter percentages rounded to 1 decimal place %

3.

Price-earnings ratio

enter a number of times rounded to 1 decimal place times

4.

Inventory turnover

enter ratio rounded to 2 decimal place :1

5.

Accounts receivable turnover

enter a number of times rounded to 1 decimal place times

6.

Times interest earned

enter a number of times rounded to 1 decimal place times

7.

Profit margin

enter percentages rounded to 1 decimal place %

8.

Days in inventory

enter percentages rounded to 1 decimal place days

9.

Payout ratio

enter percentages rounded to 1 decimal place %

10.

Return on assets

enter percentages rounded to 1 decimal places %

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