Hello I Just want to know if I answered the financial ratios correctly:

Balance Sheet items 2018 2017 Formula CURRENT ASSETS Cash 456,500 222,400 Cash increase - due to no dividends paid in 2018 Receivables 3,936,400 3,320,000 Inventory 89,800 100,200 Other assets 1,169,500 934,300 Total current assets 5,652,200 4,576,900 Current ratio 2017: 1.39 Current Ratio= .Total Current Assets/Total Current Liabilities Current ratio 2018: 1.70 Current Ratio= Total Current Assets/Total Current Liabilities LONG TERM ASSETS Note Receivable 380,600 280,700 Some additional debt acquired in 2018 Equipment (net of depreciation) 975,000 1,017,800 Total long term assets 1,355,600 1,298,500 TOTAL ASSETS 7,007,800 5,875,400 LIABILITIES AND STOCKHOLDERS' EQUITY Debt ratio 2017: 69.2% Debt Ratio= . Total Liabilities/ . Total Assets Debt ratio 2018: 59.5% Debt Ratio= . Total Liabilities/ . Total Assets CURRENT LIABILITIES Accounts payable 2,783,100 2,805,700 Note payable (current maturities) 277,550 272,550 Other accrued liabilities 265,300 21 4,600 Total current liabilities 3,325,950 3,292,850 LONG TERM LIABILITIES Notes payable (long term) 454,800 454,800 Long term accrued liabilities 389,550 320,250Total long term liabilities 844,350 775,050 TOTAL LIABILITIES 4,170,300 4,067,900 STOCKHOLDERS' EQUITY Common stock 450,000 450,000 Retained Earnings 2,387,500 1,357,500 Total stockholders' equity 2,837,500 1,807,500 TOTAL LIABILITIES AND STOCKHOLDERS EQUITY 7,007,800 5,875,400Income Statement items 2018 2017 Answers/Comments Formula Service Contract Revenues 9,200,000 6,595,400 Increase in contracts Service Contract Costs (6,503,100) (4,957,800) Gross Profit 2,696,900 1,637,600 Gross profit margin 2017: 24.83% Gross Profit Margin=( Sales - COGS)/Sales Gross profit margin 2018: 29.31% Gross Profit Margin=( Sales - COGS)/Sales General and Administrative Expenses 896,000) 756,000) Operating Income 1,800,900 881,600 Increase in profit - see above comment Gain on sale of equipment 59,900 7,700 Interest expense (69,500) (70,800) Other expense (9,600) (63,100) Income before taxes 1,781,700 755,400 Taxes (451,700) (300,900) Net Income 1,330,000 454,500 Increase in net income from 2017-2018 Retained Earnings, Beginning Balance 1,057,500 1,053,000 2,387,500 1,507,500 Less: Dividends paid (150,000) No dividend paid in 2018 Retained Earnings, Ending Balance 2,387,500 1,357,500