Comparative financial statement data of Garfield, Inc. follow: Net Sales Revenue Cost of Goods Sold Gross Profit Operating expenses Income! from Operations Interest Expense Income Before Income Tax Income Tar Expense Net income GARFIELD INC Comparative Income Statement Years Ended December 31. 2018 and 2017 2018 461.000 241.000 220,000 137.000 83.000 9,000 74.000 18.000 56.000 2017 424.000 213.000 135.000 78.004 113 00 24.000 41.000 Assets Current Asset Cash Accounts Receivable, Net EMerchandise Inventory Prepaid Expenses Total Current Assets Propeyyy,Plank and Equip Totaty+Sets 1. Market price of Garfield's common stock: $69.36 at December 31, 2018, and $38.04 at December 31. 2017 2. Common shares outstanding 14,000 on December 31, 2018, and 12.000 on December 31, 2017 and 2016 3. All sales are on credit Requirements: 2018 99.000 146,000 20.000 373.000 211.000 584.000 GARFIELD INC. CompararativeBalance Sheet December 31 2018 and 2017 2017 Liabilities Total Current Liabilities 98,000 Long-term Liabilities 114,000 Total Liabilities 164.000 9.000 385,000 Stockholders' Equity 181.000 566,000 Preferred Stock 3% Common Stockholders' Equity, no par Total Liabilities and Stockholders' Equity Compute the following ratios below for Year 2018 and 2017 (round to two places) A. Compute the Current Ratio for year 2018 lofalcurrent assets total current labilte a. Comoute the Current tor ver 1 B. Compute the Cash Ratio for year 2018 Spring 2022 2018 227.000 117. 2017 246.000 100,000 346,000 98.000 584.000 08.000 122.000 566,000 B. Compute the Cash Ratio for year 2017 rash ftotal cre habi C. Compute the Times-interest-earned ratio for year 2017 C. Compute the Times-interest-earned ratio for vear 2018 net income D. Compute the Inventory turnover for vear 2018 COST o1 8004s Sold E. Compute the Gross Prolit Percentage for year 2018 X'oss profit / ne 0.0% F. Compute the Debt to Equity Ratio for year 2018 total liabilities / total equity G. Compute the Rate ol' return on common stockholders' cauity for vear 2018 net come - preferred dividends / average common stockholders equin h. Compute the Earnings per share for year 2018 net income - preferred dividends / weighted average number of common shares outstanding 0: I. Compute the Price/Earninas Ratio for year 2018 market orice per share of common stock / earines per share 0% D. Compute the Inventory turnover for vear 2017 cost of goods sold /average merchandise inventon 183,000 E. Compute the Gross Prolit Percentage for year 2017 Koss profits her stes 0.0% F. Compute the Debt to Equity Ratio for year 2017 total liabilities / total equity G. Compute the Rate of return on common stockholders' equity