Comparative Income Statement For Years Ended December 31, 2017 and 2018 2018 2017 $23,688 $18,450 800 100 $22,888 $18,350 10,850 7,300 $11,950 $11,050 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses: Depreciation Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes Net income $ 1,168 $ 830 5,650 4,300 1,010 73e 820 530 $ 8,648 $ 6,390 $ 3,319 $ 4,660 1,020 730 $ 2,299 $ 3,930 916 1,572 $ 1,374 $ 2,358 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 $11,488 $ 8,600 15,788 11,700 7,780 13,200 23,200 9, 200 $58,000 $42,700 $13,780 $10,200 12,789 8, 2ee $26,408 $18,400 $84,488 $61,100 Assets Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land Total plant and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities: Mortgage note payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $12,200 $ 6,200 6,280 4,200 $18,400 $10,400 21,200 19,700 $39, 688 $30,100 $20,200 $20, 200 24,609 10,800 $44,800 $31, wee $84,488 $61,100 Calculate the current ratio. (Round your answers to the nearest hundredth.) 2018 2017 Current ratio