010:310 Accounting for Engineers Fall 2020 Sarah Elgamal . 10/15/20 9:35 PM Save Homework: Chapter 15 Homework : 0 1 S15-6 (similar to) Score: 0 of 1 pt 3 of 13 (11 complete) HW Score: 73.33%, 11 of 15 pts Question Help Victory's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) . Victory's has 20,000 common shares outstanding during 2018. Read the requirements. Requirement 1. Compute Victory's Companies' current ratio at May 31, 2018 and 2017. Begin by selecting the formula to calculate Victory's Companies' current ratio. Then enter the amounts and calculate the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Current ratio i Balance Sheets i Requirements x 1. Compute Victory's Companies' current ralio at May 31, 2018 and 2017 2. Did Victory's Companies' current ratio improve, deteriorate, or hold steady during 2018? Victory's Companies Balance Sheet May 31, 2018 and 2017 Assets 2018 Llabilities 2018 2017 2017 Income Statement Cash S 2.000 S 13,300 10,300 Short-term Investments Accounts Receivable Merchandise Inventory 27,000 7,400 23,600 Victory's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 7,100 10,000 1.900 Total Current Liabilities S 29,000 $ 13,900 10,000 Long-term Liabilities 5,300 Total Liabilities 42,900 8,200 Stockholders' Equity 2.400 Common Stock 8.000 27,800 Retained Earnings 37,600 23.000 Total Equity 45,600 50,800 S 88,500 $ Total Liabilities and Equity Other Current Assets 8.000 Total Current Assets 2017 19,200 53,500 35,000 All Other Assets 27,200 Net Sales Revenue $ 41,600 29,300 S 88,500 S 50,800 Total Assets Cost of Goods Sold Interest Expense 51,200 S 27,700 200 6,900 140 Choose from any drop- All Other Experises 7,800 Print Done $ 16,400 S 4,360 3 parts Net Income remaining UIT AUSW LIBRI