Given the Income Statement and Balance Sheet for the Blank Construction Company, calculate the following financial ratios and briefly explain the significance of each. (1) Quick Assets to Current Liabilities (Quick Ratio). (2) Current Assets to Current Liabilities (Current Ratio). (3) Total Liabilities to Net Worth (Debt to Equity Ratio). (4) Project Income to Net Working Capital. (5) Project Income to Net Worth. (6) Fixed Assets to Net Worth. (7) Percent Net Project Income (before taxes) to Project Income. (8) Percent Net Project Income (before taxes) to Net Worth. (9) Percent Net Project Income (before taxes) to Total Assets. The Blank Construction Company, Inc. Portland, OHIO INCOME STATEMENT For the year ending December 31, 20- ITEM $8,859,138,39 $8,705.820.15 $153,318.24 $153,318.24 (a) Project Income (b) Less Project Costs, including office overhead expense of $239,757.04 (c) Net Project Income (d) Other Income: Discounts Earned Equipment Rentals Miscellaneous Total Other Income (e) Net Income Before Taxes on Income (1) Less Federal and State Taxes on Income (g) Net Income After Taxes on Income Retained earnings: $23,064.93 $23,758,93 $12,882.64 $59,706 50 $59,706.50 $213.024.74 $97,616.66 $115,408.08 (h) Balance, January 1, 20- (1) Dividends Paid Total Retained Earnings Balance, December 31, 20- (k) Earnings Per Share on Net Income $106.127.24 $36,880.00 $69,247.24 $69,247.24 $184.655.32 $40.06 - BALANCE SHEET December 3, 20- ASSETS (a) CURRENT ASSETS: Cash on hand and on deposit Notes receivable, current Accounts receivable, including retainape of $265.686.39 Deposits and miscellaneous receivables Inventory Prepaid expenses TOTAL CURRENT ASSETS 5306820.29 $713.991 66 $50 559.69 $2.83860 $97,616.66 $1.171.526.90 52,728 331361 (6) NOTES RECEIVABLE, NONCURRENT LIABILITIES () CURRENT LIABILITES $389.927.04 Accounts payable $16,629 39 Due subcontractors Accrued expenses and taxes $1,222,346,26 Equipment contracts, current Provision for income taxes $15,067 Total $26 530.14 58.490.68 ) DEFERRED CREDITS $1,679,791,31 Income billed on jobs in progress on December 31, 20 $12,77797 Costs incurred to December 31, 20- on completed jobs Deferred credits $55,24450 TOTAL CURRENT LIABILITIES $388,289.80 EQUIPMENT CONTRACTS, NONCURRENT $97.576.04 (h) TOTAL LIABILITIES $23.596.18 $564,70652 NET WORTH $422.772 51 Commoe stock 4.610 shares $141.984L01 Retained carings 0 TOTAL NET WORTH $1.83455190) TOTAL LIABILITIES AND NET WORTH (c) PROPERTY Buildings Construction equipment Motor vehicles Office furniture and equipment TOTAL PROPERTY di Less accumulated depreciation NET PROPERTY $9.59735 $1,1814702 $7.477.72 $1.188 89797 SA1.000 SI5655.30 (c) TOTAL ASSETS $13455