Excel's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 2017 Net Sales Revenue Cost of Goods Sold Interest Expense All Other Expenses 43,700 $ 20,600 200 6,700 41,100 21,400 140 7,800 16,200 $ 11,760 Net Income 2017 Cash Assets 2018 2,200 $ 27,000 7,600 7,300 9,000 Short-term Investments Accounts Receivable Merchandise Inventory Excel's Companies Balance Sheet May 31, 2018 and 2017 Liabilities 2017 2018 1,800 Total Current Liabilities 25,000 $ 12,000 Long-term Liabilities 13,600 5,700 Total Liabilities 38,600 9,700 Stockholders' Equity 2,500 Common Stock 9,000 31,700 Retained Earnings 39,500 28,000 Total Equity 48,500 12,800 11,500 24,300 Other Current Assets Total Current Assets All Other Assets 53,100 34,000 9,000 26,400 35,400 May 31, 2018 and 2017 Assets 2018 2017 Liabilities 2018 2017 S 12,800 11,500 Cash Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets 2,200 $ 27,000 7,600 7,300 9,000 24,300 1,800 Total Current Liabilities $ 25,000 $ 12,000 Long-term Liabilities 13,600 5,700 Total Liabilities 38,600 9,700 Stockholders' Equity 2,500 Common Stock 9,000 31,700 Retained Earnings 39,500 28,000 Total Equity 48,500 59,700 87,100 $ Total Liabilities and Equity 9,000 26,400 All Other Assets 53,100 34,000 87,100 $ 35,400 59,700 Total Assets Requirement 1. Compute Excel's Companies' current ratio at May 31, 2018 and 2017 Begin by selecting the formula to calculate Excel's Companies' current ratio. Then enter the amounts and calculate the current ratio for 2018 and then 2017. ( = Current ratio 2018 / 2017 Requirement 2. Did Excel's Companies' current ratio improve, deteriorate, or hold steady during 2018? Excel's Companies' current ratio