ABC Inc Balance Sheets 12/31/2016 12/31/2017 Asse ABC Inc Income Statement 12 mos Current Assets: as Accounts Receivable, net Invento Prepaid expenses 14,236,295 1,400,000 2,500,000 92,000 18,328,29:5 19,658,695 1,190,000 2,460,000 12/31/2017 Total Current Assets 23,510,29:5 $22,000,000 13,200,000 8,800,000 Sales Property and Equipment Cost of Sales 4,400,000 1,000,000 5,400,000 4,505,000 1,300,000 5,805,000 Machinery and Equipment Gross Profit Computers, Furniture and Fixtu: Accumulated reciation ul (2,900,000) 2,500,000 (4,055,000) 1,750,000 an Operating Expense 3,300,000 Depreciation Expense Tax Expense Total Expense 1,155,000 825,000 5,280,000 3,520,000 Total Assets 20,828,295 25,260,295 Liabilities and Shareholders' Equit Current Liabilities: Net Income Accounts Pavable Accrued liabilities Dividends Payable Income taxes payable 756,000 1,200,000 120,000 300,000 2,376,000 806,000 1,140,000 Other Information Equipment and computers were purchased for cash 100,000 shares of common stock sold for $10 per share Cash dividends of $150,000 were declared 360,000 2,438,000 Total current liabilities Long Term Liabilities 2,756,295 2,756,295 2 Total Liabilities 5,132,295 5,194,295 a. Compute Earnings per Share b. PE ratio if the stock price is $36 and the outstanding shares are 1,100.000 in 2017 c. Compute the current ratio ner's Equit Capital Stock* Retained Earnings (Deficit 11,000,000 4,696,000 12,000,000 8,066,000 15,696,000 20,828,295 1,000,000.00 20,066,000 25,260,295 1100,000.00 Total Shareho Total Liab & Stckhldrs' Equt Outstanding common shares