Genatron Manufacturing Corporation Balance Sheet 2017 2016 ASSETS Cash $40,346 $51,237 Accts. receivable 260,101 201,255 Inventory 503,294 450,661 Total current assets 803,741 703,153 Fixed assets, net 400,000 300,000 Total assets $1,203,741 $1,003,153 LIABILITIES AND EQUITY Accts. payable $170,983 $132,529 Bank loan 91,779 91,779 Accruals 70,000 50,000 Total current liabilities 332,762 274,308 Long-term debt, 12% 394,350 291,069 Common stock, $10 par 300,000 300,000 Capital surplus 40,672 40,672 Retained earnings 135,957 97,104 Total liabilities & equity $1,203,741 $1,003,153 Genatron Manufacturing Corporation Income Statement 2017 2016 Net sales $1,515,352 $1,315,352 Cost of goods sold 909,211 789,211 Gross profit 606,141 526,141 Expenses: General and administrative 150,000 150,000 Marketing 150,000 130,000 Depreciation 52,842 41,862 Interest 54,161 44,639 Earnings before taxes 199,138 159,640 Income taxes 72,880 60,588 Net income $126,258 $99,052 (a) Your answer is correct. Calculate Genatron's dollar amount of net working capital in each year. 2017 2016 Net working capital 470,979 428,845 SHOW SOLUTION LINK TO TEXT (b) Calculate the current ratio and the acid-test ratio in each year. (Round answers to 2 decimal places, e.g. 52.75.) 2017 2016 Current ratio Acid-test ratio