Compute and Interpret Liquidity, Solvency and Coverage Ratios Selected balance sheet and income statement information from Verizon Communications follows (S millions) 2005 2004 Current assets Current liabilities Total debt Total liabilities Equity Earnings before interest and taxes Interest expense Net cash flow from operating activities 23,312 23,120 $15,948 $ 18,579 25,063 23,129 39,010 39,267 101,796 103,445 66,434 62,613 12,707 12,586 2,180 2,384 (a) Compute the current ratio for each year and discuss any trend in liquidity. (Round your answers to two decimal places.) 2005 current ratio0 2004 current ratio0 What additional information about the numbers used to compute this ratio might be useful in helping you assess liquidity? (Select all that apply) yes no yes yes The maturity schedule of current liabilities The average stock price for the industry The amount of current assets that is concentrated in relatively illiquid inventories V The average current ratio for the industry (b) Compute times interest earned, total liabilities-to-equity, and net cash from operating activities to total debt ratios for each year. (Round your answers to two decimal places.) 2005 times interest earned 0 2004 times interest earned0 2005 total liabilities-to-equity0 2004 total liabilities-to-equity0 2005 net operating cash flow to total debt0 x 2004 net operating cash flow to total debt0