Question: I'm only needing help to solve the one red outlined box! CRANE COMPANY Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and



I'm only needing help to solve the one red outlined box!
CRANE COMPANY Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 630 560 Inventory 580 510 Prepaid expenses 130 160 Total current assets 1,670 1,590 Property, plant, and equipment (net) 410 380 Investments 170 170 Intangibles and other assets 530 510 Total assets $2,780 $2,650 Current liabilities $980 $950 Long-term liabilities 600 500 Stockholders' equity-common 1,200 1,200 Total liabilities and stockholders' equity $2,780 $2,650 CRANE COMPANY Income Statements For the Year Ended December 31 (in thousands) 2022 2021 Sales revenue $3,920 $3,580 Costs and expenses Cost of goods sold 1,130 1,050 Selling & administrative expenses 2,400 2,330 Interest expense 10 20 Total costs and expenses 3,540 3,400 Income before income taxes 380 180 Income tax expense 152 72 Net income $ 228 $ 108 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 December 31, 2020, was $430.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2020, were $2,530.) (e) Return on common stockholders' equity. (Equity on December 31, 2020, was $930.) (f) Debt to assets ratio. (g) Times interest earned. 2022 2021 Current ratio. 1.70 :1 1.67 :1 Inventory turnover. 2.07 2.23 Profit margin. 5.81 % 3.01 % Return on assets. 8.39 % 4.16 % Return on common stockholders' equity. 19 % 9 % Debt to assets ratio. 56.83 % 54.71 % Times interest earned. 39 times 10 times
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