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ABC, Inc. 2017 and 2018 Balance Sheet ($ in millions) 2017 2018 2017 2018 Cash $1,455 $260 Accounts payable$1,150 $2,863 Accounts rec. 2,460 3,975 Notes

ABC, Inc. 2017 and 2018 Balance Sheet ($ in millions) 2017 2018 2017 2018 Cash $1,455 $260 Accounts payable$1,150 $2,863 Accounts rec. 2,460 3,975 Notes payable 2,600 1,628 Inventory 1,405 885 Total $3,750 $4,491 Total $5,320 $5,120 Long-term debt 7,000 7,600 Net fixed assets19,30021,720 Common stock 5,500 5,700 Retained earnings 8,370 9,049 Total assets $24,620 $26,840 Total liabilities $24,620 $26,840 13. What is the current ratio for ABC in 2018? A) 1.97 B) 1.51 C) 1.23 D) 1.14 E) 1.02 14. What is the debt-equity ratio for 2017? A) 0.46 B) 1.41 C) 0.78 D) 2.15 E) 2.32 15. What was inventory turnover for 2018? A) 1.38 B) 2.42 C) 5.90 D) 3.15 E) 4.38 16. What was the total

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