3 cx WEdit in Browser V Download Save to OneDrive Prin Homework Chapter 3 Accessibility Mode Exercise 3 The 2018 balance sheet for the Variant Corporation is shown below. Variant Corporation Balance Sheet At December 31, 2018 Assets: ($ in 000) Cash... $ 60,000 Accounts receivable (net). 140,000 Inventories....... 160,000 Property, plant, and equipment (net).. 350.000 Total assets $210.000 Liabilities and Shareholders' Equity: Current liabilities. $ 180,000 Long-term liabilities. 200,000 Common stock 200,000 Retained earnings. 130,000 Total liabilities and shareholders' equity. S210.000 The company's 2018 income statement reported the following amounts (Sin thousands): Net sales $1,300,000 Interest expense 20,000 Income tax expense 50,000 Net income 80,000 Required: Calculate the following ratios for 2018: 1. Current ratio Calculate the following ratios for 2018: Current ratio, acid-test ratio, debt-to-equity ratio, time interest earned ratio. Slatere IPPTC 4