Condensed statement of financial position and income statement data for Hiroole Corporation follow: HIROOLE CORPORATION Statement of Financial Position December 31 2018 2017 2016 Assets Current assets Cash $17,900 $24,900 $20,200 Accounts receivable (net) 44,700 47,600 55,200 100.600 64,400 Inventory 85,000 Total current assets 180,700 149,900 129,900 44,100 Long-term investments 59,600 71,900 Property, plant, and equipment (net) 497,800 367,200 260,100 $589,000 $738,100 $434,100 Total assets Liabilities and Shareholders' Equity Liabilities Current liabilities $30,200 $84,500 $79,400 Non-current liabilities 155,300 84,700 20,200 Total liabilities 239,800 164,100 50,400 Shareholders' equity Common shares 331,900 300,100 301,200 Retained earnings 166,400 124,800 82,500 Total shareholders' equity 498,300 424,900 383,700 $434,100 $738,100 $589,000 Total liabilities and shareholders' equity HIROOLE CORPORATION Income Statement Year Ended December 31 2018 2017 Sales $737,500 $502,700 Less: Sales returns and allowances 39,800 50,400 Net sales 697,700 452,300 Cost of goods sold 447,600 301,200 Gross profit 250,100 151.100 Operatingexpenses 150,900 83,400 Income from operations 99.200 67,700 Interest expense 9,900 4,120 Income before income tax 63,580 89,300 Income tax expense 17,860 12.716 $50,864 $71,440 Net income Additional information: The allowance for doubtful accounts was $4,800 in 2016, $4,500 in 2017, and $5,000 in 2018 1. 2. All sales were credit sales. Net cash provided by operating activities was $119,100 in 2017 and $102,600 in 2018. 3. Net capital expenditures were $151,100 for 2017 and $180,700 for 2018 4. Calculate the following ratios for 2017 and 2018: (Round answers to 1 decimal place, e.g. 5.2:1 or 5.2%6 or 5.2. Enter negative answers preceeding either sign, e.g. -45 or in parentheses, e.g. (45).) 2018 2017 : 1 1. Current ratio 2. Receivables turnover times times 3. Inventory turnover times times 4. Debt to total assets 5. Times interest earned times times 6. Free cash flow 7. Gross profit margin 8. Profit margin 9. Asset turnover times times 10. Return on assets Identify whether each ratio calculated in the above part was better, worse, or unchanged between 2017 and 2018 1. Current ratio 2. Receivables turnover 3. Inventory turnover 4. Debt to total assets 5. Times interest earned 6. Free cash flow 7. Gross profit margin 8. Profit margin 9. Asset turnover 10. Return on assets Indicate whether overall (1) liquidity, (2) solvency, and (3) profitability improved, deteriorated, or remained the same between 2017 and 2018. (1) Liquidity (2) Solvency (3) Profitability