CRANE COMPANY Balance Sheets December 31 (in thousands) 2020 2019 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 570 500 Inventory 520 450 Prepaid expenses 130 160 Total current assets 1,550 1,470 Property, plant, and equipment (net) 410 380 Investments 110 110 Intangibles and other assets 530 510 Total assets $2,600 $2,470 Current liabilities $920 $890 Long-term liabilities 540 440 Stockholders’ equity—common 1,140 1,140 Total liabilities and stockholders’ equity $2,600 $2,470 CRANE COMPANY Income Statements For the Year Ended December 31 (in thousands) 2020 2019 Sales revenue $3,860 $3,520 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 380 180 Income tax expense 152 72 Net income $ 228 $ 108 Compute the following ratios for 2020 and 2019. (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, 2018, was $400.) (c) Profit margin. (d) Return on assets. (Assets on December 31, 2018, were $2,110.) (e) Return on common stockholders’ equity. (Equity on December 31, 2018, was $980.) (f) Debt to assets ratio. (g) Times interest earned.

Ticker services began operations in 2015 and maintains long-term investments in available-for-sale securities. the year-end cost and fair values for its portfolio of these investments follow.portfolio of available-for-sale securities cost fair valuedecember 31, 2015 $ 369,060 $ 357,988 december 31, 2016 420,728 445,972 december 31, 2017 572,190 676,901 december 31, 2018 864,007 768,966 prepare journal entries to record each year-end fair value adjustment for these securities.calculation adjustment required to fair value adjustment.12/31/15 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) 12/31/16 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) 12/31/17 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) 12/31/18 existing balance in fair value adjustment-afs (lt) required balance in fair value adjustment-afs (lt) adjustment required to fair value adjustment-afs (lt) record the year-end adjusting entry for the securities portfolio as of december 31, 2015.date general journal debit creditdec 31, 2015 record the year-end adjusting entry for the securities portfolio as of december 31, 2016.date general journal debit creditdec 31, 2016 record the year-end adjusting entry for the securities portfolio as of december 31, 2017.date general journal debit creditdec 31, 2017 record the year-end adjusting entry for the securities portfolio as of december 31, 2018.date general journal debit creditdec 31, 2018