Comparative financial statement data of

Sanfield,

Inc. follow:

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(Click the icon to view the additional financial information.)Read the requirements

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.Requirement 1a. Compute the current ratios for

2018

and

2017.

Begin by selecting the formula to compute the current ratio.

Current ratio

=

Sanfield, Inc.
Comparative Income Statement
Years Ended December 31, 2018 and 2017
			2018	2017
		Net Sales Revenue	$462,000	$430,000
		Cost of Goods Sold	236,000	213,000
		Gross Profit	226,000	217,000
		Operating Expenses	135,000	133,000
		Income From Operations	91,000	84,000
		Interest Expense	8,000	12,000
		Income Before Income Tax	83,000	72,000
		Income Tax Expense	18,000	22,000
		Net Income	$65,000	$50,000

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Sanfield, Inc.
Comparative Balance Sheet
December 31, 2018 and 2017
			2018	2017	2016*
		Assets
		Current Assets:
		Cash	$99,000	$97,000
		Accounts Receivables, Net	109,000	117,000	$100,000
		Merchandise Inventory	142,000	164,000	207,000
		Prepaid Expenses	15,000	5,000
		Total Current Assets	365,000	383,000
		Property, Plant, and Equipment, Net	215,000	177,000
		Total Assets	$580,000	$560,000	$599,000
		Liabilities
		Total Current Liabilities	$222,000	$244,000
		Long-term Liabilities	113,000	92,000
		Total Liabilities	335,000	336,000
		Stockholders' Equity
		Preferred Stock, 4%	92,000	92,000
		Common Stockholders' Equity, no par	153,000	132,000	85,000
		Total Liabilities and Stockholders' Equity	$580,000	$560,000
		* Selected 2016 amounts

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