The condensed financial statements of Crane Company for the years 2021 and 2022 are as...
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The condensed financial statements of Crane Company for the years 2021 and 2022 are as follows. CRANE COMPANY Balance Sheets December 31 (in thousands) \begin{tabular}{|c|c|c|} \hline \begin{tabular}{r} CRANE COMPA \\ Income Stateme \\ For the Years Ended December \end{tabular} & (in thou & \\ \hline & 2022 & 2021 \\ \hline Sales revenue & $3,860 & $3,520 \\ \hline Costs and expenses & & \\ \hline Cost of goods sold & 1,070 & 990 \\ \hline Selling \& administrative expenses & 2,400 & 2,330 \\ \hline Interest expense & 10 & 20 \\ \hline Total costs and expenses & 3,480 & 3,340 \\ \hline Income before income taxes & 380 & 180 \\ \hline Income tax expense & 152 & 72 \\ \hline Net income & $228 & $108 \\ \hline \end{tabular} Compute the following ratios for 2022 and 2021. (Round current ratio and inventory turnover to 2 decimal places, e.g 1.83. Round profit margin, return on assets, return on common stockholders' equity and debt to assets ratio to 1 decimal place, e.g. 12.6\%.) (a) Current ratio. (b) Inventory turnover. (c) Profit margin. (d) Return on assets. (e) Return on common stockholders' equity. (f) Debt to assets ratio. (g) Times interest earned
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