Eco Homes, Inc. builds environmentally sensitive structures. The company's 2018 revenues totaled $2.775 million At December 31, 2018, and 2017, the company had respectively, $663 million and $598 million in current assets. The December 31, 2018 and 2017, balance sheets and income statements reported the following amounts E(Click the icon to view the amounts) Read the requirements Requirement 1. Descnbe each of Eco Homes, Inc.'s liabilities and state how the liability arose Choose the correct liability the list that best fits the description provided The amount of long-term notes and bonds payable that the company expects to pay after the coming year V A catch-all group of liabilities that do not fit one or more specific categories. This is usually listed among the long-term liabilities Amounts owed to suppliers for products or services that have been purchased on account Amounts owed to employees for salaries and other payroll-related expenses Amounts owed for providing benefits to retirees such as health care costs The next year's payments on the company's long form debt Expenses that the company has incurred but not yet paid those are abities for expenses such as interest and income taxes 2018 2017 At year-end (In millions) Liabilities and stockholders' equity Current liabilities Accounts payable $ 178 $ 192 Accrue xpenses 97 168 40 25 13 fte 8 Accrue nployee compensation and benefits Current portion of long-term debt Total current liabilities Long-term debt Post-retirement benefits payable ua 398 323 1,430 1,326 85 119 tou Other liabilities 24 1.951 20 1,777 Total stockholders' equity $ 3,813 $ 3,640 Total liabilities and stockholders' equity Year-end (in millions) Cost of goods sold $ 2,220 $ 1,365 bns Requirement 3. Assume that beginning and onding inventones for both periods did not differ by a material amount Accounts payable at the end of 2016 was 5198 million Calculate accounts payable turnover as a ratio and days payable outstanding (DPO) for 2017 and 2018 Calculate current ratios for 2017 and 2018 as well Evaluate whether the company improved or deteriorated from the standpoint of its ability to cover accounts payable and current liabities over the year Determine the formula for the accounts payable turnover. Then complete the formula and calculate the accounts payable turnover ratios at the end of 2017 and 2018 (Enter amounts in millions) Accounts payable turnover 2018 2017 Next, determine the formula for the days payable outstanding (DPO) Then complete the formula and cakculate the days payable outstanding at the end of 2017 and 2018 (Enter the amounts in the formula to two decimal places, XXX Round your answers to the nearest whole day) Days payable outstanding 2018 2017 Now, determine the form for the current ratio. Then complete the formula and calculate the current ratios at the end of 2017 and 2018 (Enfer amounts in millions Round your answer to two decimal places) Current ratio 2018 2017 Evaluate whether the company improved or deteriorated from the standpoint of ability to cover accounts payable and current liabilities over the year The company's ability to cover accounts payable and current liabilities over the year