Comparative financial statement data of Ranfield Inc follow (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 requirements Requirement 1a. Compute the current ratios for 2018 and 2017, Begin by selecting the formula to compute the current ratio. Current ratio Balance sheet Additional financial information Ranfield, Inc Comparative Balance Sheet December 31, 2018 and 2017 2018 1. Market price of Ranfield's common stock: 561.92 at December 31, 2018, and $29.40 at December 31, 2017 2. Common shares outstanding: 14,000 on December 31, 2018 and 13,000 on December 31, 2017 and 2016 3. All sales are on credit 2017 2016" " Print Done Income statement 5 95.000 $ Assets Current Assets Cash Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets Property. Plant, and Equipment. Net Total Assets Liabilities 108.000 143,000 12,000 94,000 116,000 5 106,000 161,000 210,000 7,000 Ranfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 - X Requirements 368,000 378,000 216.000 173,000 574,000 S 551,000 S 551,000 5602.000 Net Sales Revenue Cost of Goods Sold Gross Profit 5 467,000 $ 423,000 243,000 218,000 224,000 205,000 138.000 136,000 06 ODO 69,000 12,000 13.000 Total Current Liabilities Long-term Liabilities Total Liabilities S 225.000 S 240,000 121,000 97,000 1. Compute the following ratios for 2018 and 2017 a. Current ratic b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover c. 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) whathar Ranfield'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 346 000 Operating Expenses Income From Operations Interest Expense Income Before Income Tax Income Tax Expense 337,000 74.000 17 000 56,000 24 000 94.000 134000 Stockholders' Equity Preferred Stock, 5% Common Stockholders' Equity, no par Total Liabilities and Stockholders' Equity ' "Selected 2016 amounts 94,000 120,000 Net Income 5 5 57.000 $ 32,000 93,000 5 574.000 $ 551,000 Print Done ( Print Done