Your answer is partially correct. Try again. The condensed financial statements of Blossom Company for the years 2016 and 2017 are presented as follows. (Amounts in thousands.) BLOSSOM COMPANY Balance Sheets December 31 2017 2016 $330 480 $360 410 470 120 400 160 Current assets Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Investments Property, plant, and equipment (net) Intangibles and other assets Total assets Current liabilities Long-term liabilities Stockholders' equity-common Total liabilities and stockholders' equity 1,400 20 420 530 1,330 20 380 510 $2,370 $2,240 $800 390 $910 420 1,040 $2,370 1,050 $2,240 2016 $3,470 BLOSSOM COMPANY Income Statements For the Year Ended December 31 2017 Sales revenue $3,810 Costs and expenses Cost of goods sold 965 Saladine 2400 900 MacBook 903 OOD F4 F6 F7 $ 4 % 5 & 7 9 8 2 3 6 RCES 126 Selling & administrative expenses 2,400 2,330 Interest expense 25 20 Total costs and expenses 3,390 3,250 Income before income taxes 420 220 Income tax expense 66 Net Income $ 294 $ 154 Compute the following ratios for 2017 and 2016. (Round current ratio and inventory turnover to 2 decimal places 12.6%) (a) Current ratio. (b) Inventory turnover. (Inventory on 12/31/15 was $350.) (c) Profit margin (d) Return on assets. (Assets on 12/31/15 were $1,910.) (e) Return on common stockholders' equity. (Stockholders' equity on 12/31/15 was $910.) (0) Debt to assets ratio. (9) Times interest earned. 2017 2016 1.7 :1 1.66:1 Current ratio 2.25 times 2.4 times Inventory turnover 6.6 3.896 Profit margin. 10.9% 6.65 Return on assets. 24% 13.5% Return on common stockholders' equity. Debt to assets ratio. 20.7% 17.496 41 times 10 times Times interest earned. MacBo 2013 DOO FS