Calculate Greatland's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places.

2. Calculate the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately.

a. Borrowed $105,000 on a long-term note payable

b. On January 1, Issued 40,000 shares of common stock, receiving cash of $360,000

c. Paid off short-term notes payable, $28,000

d. Purchased $43,000 of merchandise on account, debiting Inventory

e. Received cash on account, $17,000

Cash 107,000 26,000 Accounts payable 36,000 Accrued liabilities Short-term investments 32,000 Accounts receivable, net 163,000 85,000 Long-term notes payable 147,000 Other long-term liabilities Inventories 34,000 Prepaid expenses 6,000 Net income 99,000 Total assets 677,000 Number of common Short-term notes payable 49,000 shares outstanding 46,000