Comparative financial statement data of Banfield, Inc., follow E (Click the icon to view the income statements.) ?(Click the icon to view the balance sheets.) iBalance sheets 1 Market price of Banfield's common stock: $47.88 at December 31, 2017, and $31.35 at December 31, 2016 2. Common shares outstanding: 10,000,000 during 2017 and 10,000,000 during 2016 3. All s ales are credit sales Banfield, Inc. Comparative Balance Sheets December 31, 2017 and 2016 (amounts in thousands) Read the requirements. Requirement 1. Compute the following ratios for 2017 and 2016. (Round all ratios to two decimal places.) 2017 2016 2017 2016 2015 a. Current ratio Assets Current assets: Cash Accounts receivable Income statements S 92,000 $ 93,000 119,000 89,500 S 85,000 136,000 13,000 204,000 $ 166,000 Banfield, Inc. 9,500 Prepaid expenses Comparative Income Statements Total current assets Property, plant, and equipment, net Total assets S 360,000 $ 396,000 202,000 178,000 For the Years Ended December 31, 2017 and 2016 (amounts in thousands) 2016 S 562,000 $ 574,000 2017 Liabilities Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Net income $ 452,300 425,390 222,000 S 214,300 S 203,390 132,000 $ 78,300 S 71,390 11,800 $ 67,500 S59,590 21,790 46,800 $ 37,800 S 240,000 $ 275,000 73,000 68,000 S 313,000 $ 343,000 238,000 Current liabilities Long-term liabilities 136,000 Total liabilities Stockholders' equity 10,800 Preferred stock, 4% S 120,000 $ 120,000 129,000 111,000 s 109,000 Total common stockholders' equity S 249,000 $ 231,000 20,700 Total stockholders' equity S 562,000$ 574,000 Total liabilities and equity