cd to 1. Compute the following ratios for 2018 and 2017: a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio 2. Decide (a) whether Canfield's ability to pay debts and to sell inventory improved or deteriorated during 2018 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. ned C Canfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 453,000's 425,000 241,000 217.000 Cost of Goods Sold Gross Profit 222,000 137,000 208,000 135,000 Operating Expenses Income From Operations 85,000 9,000 73,000 10,000 Interest Expense Income Before Income Tax Income Tax Expense 76,000 17,000 59,000 $ 63,000 26,000 37,000 $ Net Income Print Done Canfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016* Assets Current Assets: Cash Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets 90,000 $ 111,000 149,000 18,000 89,000 116,000 $ 101,000 166,000 206,000 6,000 Property, Plant, and Equipment, Net 368,000 212,000 580,000 $ 377,000 180,000 557,000 $ $596,000 Total Assets Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities $ 229,000 S 117.000 247,000 96,000 346,000 343,000 102,000 102,000 132,000 Stockholders' Equity Preferred Stock, 6% Common Stockholders' Equity, no par Total Liabilities and Stockholders' Equity * Selected 2016 amounts 91,000 $ 580,000 $ 557,000