Comparative financial statement data of Dangerfield, Inc. foliow (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information ) Read the routements Requirement 1a. Compute the current ration for 2018 and 2017, Begin by selecting the formula to compute the current ratio Current ratio Read the requirements. i Income Statement Dangerfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 465,000 $ 423,000 239,000 217,000 Cost of Goods Sold Gross Profit 226,000 132,000 206,000 130,000 Operating Expenses Income From Operations 94,000 9,000 76,000 11,000 Interest Expense Income Before Income Tax 85,000 20,000 65,000 23,000 Income Tax Expense 65,000 $ 42,000 Net Income Print Done X i Balance Sheet Dangerfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016 Assets Current Assets: Cash 96,000 $ 94,000 Accounts Receivables, Net 107.000 114,000 $ 107,000 Merchandise Inventory 206,000 149,000 17,000 163,000 10,000 369,000 211.000 381,000 178,000 Prepaid Expenses Total Current Assets Property, Plant, and Equipment, Net Total Assets Liabilities $ 580,000 $ 559,000 $596,000 Total Current Liabilities $ 224,000 $ 119,000 240,000 93,000 Long-term Liabilities Total Liabilities 343,000 333,000 Stockholders' Equity Preferred Stock, 3% 98,000 139.00 98,000 12R OO Print Done Additional Financial Information 1. Market price of Dangerfield's common stock: $72.38 at December 31, 2018, and $46.15 at December 31, 2017 2. Common shares outstanding: 13,000 on December 31, 2018 and 11,000 on December 31, 2017 and 2016. 3. All sales are on credit. i Requirements 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. Pricelearnings ratio 2. Decide (a) whether Dangerfield'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