10.Just Dew It Corporation reports the following balance sheet information for 2008 and 2009. JUST DEW IT CORPORATION 2008 and 2009 Balance Sheets Assets Liabilities and Owners' Equity 2008 2009 2008 2009 Current assets Current liabilities Cash $10.950 $ 10.250 Accounts payable $72,250 $ 59,750 Accounts receivable 28 600 28,500 Notes payable 48,750 45 250 Inventory 63,900 63 400 Total $ 121,000 $ 105 000 Total $ 103 450 $ 102,150 Long-term debt $ 61,400 $ 64 600 Owners' equity Common stock and paid-in surplus $ 80,000 $ 80,000 Fixed assets Retained earnings 168 050 199 550 Net plant and equipment $ 327,000 $ 347 000 Total $ 248 050 $ 279,550 Total assets $ 430 450 $ 449 150 Total liabilities and $ 430 450 $ 449, 150 owners' equity Based on the balance sheets given for Just Des It calculate the following financial ratios for the year 2008. a)Current ratio A 0.78 B 0.85 C 0.98 D 0.92 (b) Quick ratio A 0.33 B0.36 C0.32 D 0.28 (c)Cash ratio A 0.03 B 0.06 C 0.09 D 0.08 (d)NWC to total assets ratio A-4.08% B-4.41% C-3.47% D-4.69% (e)Debt-equity ratio and equity multiplier A 0.74 and 1.74 B 0.68 and 1.6 C 0.63 and 1.48 D 0.85 and 2 (f) Total debt ratio and Long-term debt ratio A 0.39 and 0.17 B 0.45 and 0.23 C 0.36 and 0.14 D 0.42 and 0.2