tns resources generate splashes <path to image> fails for newly created project

[rosen-vladimirov]

Environment
Provide version numbers for the following components (information can be retrieved by running tns info in your project folder or by inspecting the package.json of the project):

• CLI: 5.1.1
• Cross-platform modules: Not applicable
• Android Runtime: Not applicable
• iOS Runtime: Not applicable
• Plugin(s): Not applicable

Describe the bug
tns resources generate splashes <path to image> fails for newly created project with error

Invalid settings specified for the resizer.

To Reproduce

$ tns create blankJS -- template tns-template-blank
$ cd blankJS
$ tns resources generate splashes <path to image>

Expected behavior
CLI should generate required resources.