Patio Furniture Inc. has asked you to determine whether the company's ability to pay its current liabilities and long-term debts improved or deteriorated during 2017. To answer this question, compute the following ratios for 2017 and 2016.
a. Current ratio
b. Quick (acid-test) ratio
c. Debt ratio
d. Times-interest-earned ratio
Summarize the results of your analysis of the following financial statement data in a written report.

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2017 61,000 28,000 42,000 11 2016 Cash $47,000 116,000 263,000 286,000 Prepaid expenses. Total assets Total current liabilities Long-term debt. Income from operations Interest e 11,000 9,000 643,000 489,000 46,000 165,000 40,000 52,000 158,000 39,000