Comparative financial statement data of Panfield, Inc. follow:

PD-34B (similar Question Help Additional Financial Information Comparative financial sta (Click the icon to view (Click the icon to view 1. Market price of Panfield's common stock: $93.33 at December 31, 2018, and $53.16 at December 31, 2017 2. Common shares outstanding: 11,000 on December 31, 2018 and 9,000 on December 31, 2017 and 2016. 3. All sales are on credit. Requirement 1a. Compu Begin by selecting the for Print Done Curl Income Statement Requirements Panfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 459,000 $ 425,000 234,000 211,000 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 1. Price/earnings ratio 2. Decide (a) whether Panfield'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. Cost of Goods Sold Gross Profit 225,000 133,000 214,000 131,000 Operating Expenses Income From Operations 92,000 11,000 83,000 13,000 Interest Expense Income Before Income Tax Print Done 81,000 23,000 70,000 27,000 Income Tax Expense $ 58,000 $ 43,000 Net Income o) Balance Sheet ment de the inca al infor che bald Panfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 the cu 2017 ula to d 2016* Assets Current Assets: Cash $ 90,000 $ 87,000 110,000 120,000 $ 104,000 Accounts Receivables, Net Merchandise Inventory 210,000 146,000 16,000 165,000 8,000 Prepaid Expenses Total Current Assets 362,000 211,000 380,000 178,000 Property, Plant, and Equipment, Net $ 573,000 $ 558,000 Total Assets $597,000 Liabilities Total Current Liabilities $ 229,000 $ 114,000 242,000 97,000 Long-term Liabilities Total Liabilities 343,000 339,000 Stockholders' Equity Preferred Stock, 3% 104,000 126,000 104,000 115,000 Common Stockholders' Equity, no par 93,000 $ 573,000 $ 558,000 Total Liabilities and Stockholders' Equity * Selected 2016 amounts Print Done Done wn list| Comparative financial statement data of Panfield, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the additional financial information.) (Click the icon to view the balance sheet.) Read the requirements. Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio. Current ratio