Homework: Assignment 4 - Chap 14 - ratio analysis Score: 0 of 1st S14-6 (book/static) 4 of 13 (3 complete) Cartwright's, a home-improvement store chain, reported these summarized figures: (Click the icon to view the income statement.) ! (Click the icon to view the balance sheets.) a. Compute Cartwright's current ratio at December 31, 2017 and 2016 b. Did Cartwright's current ratio Improve, deteriorate, or hold steady during 2017? a. Compute Cartwright's current ratio at December 31, 2017 and 2016. (Round your answers to two decimal places.) First enter the formula, then compute the current ratio for each year, Current ratio Choose from any drop-down list and then click Check Answer Clear All 3 parts remaining T Score chain, reported these summarized figures: statement) (Click the icon to view the balance sheets) December 31, 2017 and 2016 Income statement deteriorate, or hold steady during 2017? December 31, 2017 and 2016. (Round yo be current ratio for each year. Cartwright's Income Statement For The Year Ended December 31, 2017 2017 Sales revenues 34,988,900 21,766.030 13,222,870 5,088.250 Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes 8,134,620 217,800 $ 7,916,820 1,925,750 Less: Income tax expense Net income $ 5,991,070 Print Done then click Check Answer. Clear All Check And UIU 4 of 13 (3 complete) HW Score: 23 Qu Balance sheets shain, reported these summarize utement.) B.Click the icon to December 31, 2017 and 2016 deteriorate, or hold steady during December 31, 2017 and 2016. (R Cartwright's Balance Sheets December 31, 2017 and 2016 current ratio for each year. 2017 2016 $ 1,200,000 $ 203,200 Assets Current assets Cash Short-term investments Accounts receivable Inventory Other current assets Total current assets 100,800 4,676,000 508,000 810,000 260,000 378,500 4,100,000 409,500 $ 6,688,000 $ 11.437,000 18.125,000 $ 6,048,000 11.620,000 17.668.000 Other noncurrent assets $ Total assets Liabilities Current liabilities Accounts payable $ 3.400.000 $ 2.750,000 Print Done Check And then click Check Answer. Balance sheets TOCAT GOTTEITE GSSCIS U,VOU, VOUW 11,437,000 0,00,000 11,620,000 Other noncurrent assets $ Total assets 18,125,000 $ 17,668,000 Liabilities Current liabilities: $ 3,400,000 $ 890,000 110,000 2,750,000 655,000 195,000 Accounts payable Notes payable Accrued liabilities Total current liabilities Long-term liabilities Total liabilities $ 4,400,000 $ 4,300,000 3,600,000 4,216,000 $ 8,700,000 $ 7,816,000 $ Stockholders' equity Common stock, no par Retained earnings Total stockholders' equity 2,502,000 $ 6,923,000 2,000,000 7,852.000 $ 9,425,000 $ 9,852.000 $ Total liabilities and equity 18,125,000 $ 17.668,000 Print Done DOO 000 F4 ca DII F5