Financial statement data of Greatland Engineering include the following items: (Click the icon to view the financial statement data.) Read the requirements ** Requirement 1. Calculate Greatland's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. Start by determining the formula for each ratio, beginning with the current ratio, followed by the debt ratio, and then earnings per share. Current ratio Requirements - 1. Calculate Greatland's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. 2. Calculate the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. a. Borrowed $105,000 on a long-term note payable b. On January 1, Issued 40,000 shares of common stock, receiving cash of $360,000 c. Paid off short-term notes payable, $28,000 d. Purchased $43,000 of merchandise on account, debiting Inventory e. Received cash on account, $17,000 Data table Cash $ 26,000 Accounts payable 36,000 Accrued liabilities Short-term investments Accounts receivable, net Inventories 85,000 Long-term notes payable 147,000 Other long-term liabilities 6,000 Net income $ 107,000 32,000 163,000 34,000 99,000 Prepaid expenses Total assets 677,000 Number of common 49,000 shares outstanding Short-term notes payable 46,000 Common shares outstanding Current assets Current liabilities Net income Total assets Total liabilities