Exercise 13-13 the condensed financial statements of pharoah company for the years

Exercise 13-13 the condensed financial statements of pharoah company for the years 2016 and 2017 are presented below. pharoah company balance sheets december 31 (in thousands) 2017 2016 current assets cash and cash equivalents $330 $360 accounts receivable (net) 570 500 inventory 640 570 prepaid expenses 130 160 total current assets 1,670 1,590 property, plant, and equipment (net) 410 380 investments 110 110 intangibles and other assets 530 510 total assets $2,720 $2,590 current liabilities $920 $890 long-term liabilities 660 560 stockholders’ equity—common 1,140 1,140 total liabilities and stockholders’ equity $2,720 $2,590 pharoah company income statements for the year ended december 31 (in thousands) 2017 2016 sales revenue $3,980 $3,640 costs and expenses cost of goods sold 1,070 990 selling & administrative expenses 2,400 2,330 interest expense 10 20 total costs and expenses 3,480 3,340 income before income taxes 500 300 income tax expense 200 120 net income $ 300 $ 180 compute the following ratios for 2017 and 2016. (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, 2015, was $410.) (c) profit margin. (d) return on assets. (assets on december 31, 2015, were $2,540.) (e) return on common stockholders’ equity. (equity on december 31, 2015, was $950.) (f) debt to assets ratio. (g) times interest earned.