1.Explain the ratios and other measures you use in analyzing balance sheet and income statement. Include how do you interpret these values in terms of profitability, liquidity, and solvency.

2.

27. Consider the following farm balance sheet. Assets Liabilities Current Assets $40,000 Current Liabilities $60,000 Noncurrent Assets $240,000 Noncurrent Liabilities $50,000 Total Liabilities $110,000 Owner Equity $170,000 Total Assets $280,000 Total Liabilities + Equity $280,000 What is the weakest part of this farm business's financial position? Explain how you determined this. (15 Points)