enteen Homework Comparative financial statement data of Sanfield, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Question 9, P17-27A (book/static) Part 3 of 20 Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio. Current ratio = Total current assets + Total current liabilities Now, compute the current ratios for 2018 and 2017. (Round your answers to two decimal places, X.XX.) Current ratio 2018 1.64 1.57 Additional Financial Information 1. Market price of Sanfield's common stock: $51.48 at December 31, 2018, and $37.08 at December 31, 2017. 2. Common shares outstanding: 16,000 on December 31, 2018 and 15,000 on December 31, 2017 and 2016. 3. All sales are on credit. Print Done Sanfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016* 2017 Requirement 1b. Compute the cash ratios for 2018 and 2017. Begin by selecting the formula to compute the cash ratio. Assets Current Assets: Cash $ Accounts Receivables, Net 99,000 $ 109,000 97,000 117,000 $ 100,000 Cash ratio = Income Statement Merchandise Inventory 142,000 164,000 207,000 15,000 5,000 Prepaid Expenses Sanfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 Total Current Assets 365,000 383,000 Property, Plant, and Equipment, Net 215,000 177,000 $ 580,000 $ 560,000 2018 2017 Total Assets $599,000 Liabilities Net Sales Revenue $ 462,000 $430,000 236,000 213,000 Total Current Liabilities Cost of Goods Sold Gross Profit 226,000 217,000 135,000 133,000 Long-term Liabilities Total Liabilities $ 222,000 $ 244,000 113,000 92,000 335,000 336,000 Operating Expenses Income From Operations 91,000 84,000 8,000 12,000 Stockholders' Equity Interest Expense Preferred Stock, 4% Income Before Income Tax 83,000 72,000 92,000 153,000 92,000 132,000 Income Tax Expense 18,000 22,000 Common Stockholders' Equity, no par 85,000 $ 580,000 $ 560,000 cs example Get more help - $ 65,000 $ 50,000 Total Liabilities and Stockholders' Equity Net Income