***chegg wont let me line up the question the way i want. the left numers are 2002. the right numbers are all 2001.

Use the balance sheets of Sanuk (shown below) to calculate the follow ratios for 2002 (round to the Hundredths):

(a) Current Ratio

(b) Acid-test ratio

(c) Debt ratio

(d) Equity ratio

Sanuk Company Balance Sheets Dec 31 2002

2002 2001

Assets:

Cash...............................$43,000 22,000

Accnts Receivable ........... 38,000 42,0000

Merchandise Inventory..............61,000 52,000

Prepaid insurance 6,000 9,000

Long-term investments 49,000 20,000

Plant assets (net 218,000 218,000

Total Assets $415,000 $363,000

Liabilities and Equity:

Current liabilites ...............$62,000 $75,000

Long-term $ 45,000 $ 36,000

Common stock $150,000 $150,000

Retained earnings $158,000 $102,000

Total liabilities and equity $415,000 $363,000