(0) Calculate the current ratio and the acid-test ratio in each year. (Round answers to 2 decima places, e.g. 52.75.) 2017 2016 Current ratio Acid-test ratio Genatron Manufacturing Corporation Balance Sheet 2017 2016 ASSETS Cash $41,849 $51,582 Accts. receivable 260,699 200,921 Inventory 502,684 450,767 Total current assets 805,232 703,270 Fixed assets, net 400,000 300,000 Total assets $1,205,232 $1,003,270 LIABILITIES AND EQUITY Accts. payable $172,189 $132,879 91.245 91.245 LIABILITIES AND EQUITY Accts. payable $172,189 $132,879 Bank loan 91,245 91,245 Accruals 70,000 50,000 Total current liabilities 333,434 274,124 Long-term debt, 12% 380,831 300,240 Common stock, $10 par 300,000 300,000 Capital surplus 47,106 47,106 Retained earnings 143,861 81,800 Total liabilities & equity $1,205,232 $1,003,270 LA Genatron Manufacturing Corporation Income Statement 2017 2016 Net sales $1,536,033 $1,336,033 Cost of goods sold 921,620 801,620 Gross profit 614,413 534,413 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 51,275 42,688 Interest 55,345 44,637 Earnings before taxes 207,793 167,088 Income taxes 75,408 60,514 $106,574 $132,385 Net income