Coranado Corpcration was formed 5 years aga through a public subsecription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers of Coronado and is its current president. The company has been successful, but it currently is experencing a shortage of funds, On June 10, 2018, Deniel Brown approached the Topeka National Bank, asking for 24-month extension on two $34,740 notes, which are due on June 30, 2013, and September 30, 2018. Another note cf $6,020 is due on March 31, 2019, but he expects no difficulty in paying this note on its due date Brown explained that Coronado's cash flow problems are due primarily to the company's desire to finance a $297,240 plant expansion over the next 2 fiscal years through intemally generated funds. Depreciatign charges on the plant and equipment of $100,490 and $102,670 for fiscal years ended March 31, 2017 and 201, respectively, are included in cost of goods sold. (a) Compute the following items for Coronado Corporation. (Round answer to 2 decimal places, e.g. 2.25 or 2.25%.) (1) Current ratio for fiscal (2) Acid-test (quick) ratio for fiscal years 2017 and 2013. (3) Inventory turnover for fiscal year 2018. (4) Return on assets for fiscal years 2017 and 2018. (Assume total assets were $1,673,770 at years 2017 and 2018. The commercial loan officer of Topeka National Bank requested the fallowing financial reports for the ast 2 fiscel years. CORONADO CORPORATION BALANCE SHEET MARCH 31 3/31/16.) (5) Percentage change in sales, cost of gcods sold, gross margin, and net income after taxes from fiscal year 2017 to 2018. Assets Cash Notes receivable Accounts necelvable (net) Inventories (at cost) Plant & equipment net of depreciation) 2018 2017 $12,400 131,030 125,790 49,690 1,431,190 $1,750,100 $18,040 147,260 132,340 105,650 1,445,350 $1,848,640 2017 2018 (1) Curent ratio (2) Acid-test (quick) ratio (3) Inventory turnover (4) Return on assets times Total assets (5) Percent ChangesPercent Increase Accounts peyable Notes payable Accrued liabilities Common stock (130,000 shares, $10 par) Retained eanings $79,080 75,330 16,650 1,290,130 387,440 $1,348,640 $91,660 61,330 11,510 1,306,340 279,260 $1,750,100 Sales revenue Cost of goods sold Gross marg n Net Income after taxes 76 Total liabilities and stockholders' equity Casb dividends were paid at the rate of $1 per share in fiscal year 2017 and $2 per share in fiscal year 2018 CORONADO CORPORATION INCOME STATEMENT FOR THE FISCAL YEARS ENDED MARCH 31 2018 2017 Sales revenue Cost of goods sold Gross margin $2,971,790 1,533,470 1,438,320 852,540 SBS,780 234,312 $351,468 $2,699,340 1,433,480 1,265,860 777,590 488,270 195,308 $292,962 Income befare income texes Income taxes (40%) Net income