Looking back over the last few years, it is clear that Nicole Mackisey has accomplished a lot running her business, Nicole's Getaway Spa (NGS). Nicole is curious about her company's performance as she compares its financial statements 2018 Balance Sheet $ 9,700 7,200 6,800 3,300 350 800 350 13,600 42,000 $95,950 $111,100 $55,600 as Accounts Receivable, Net Inventory 3,500 1,950 1,350 450 16,950 79,000 4,000 3,750 1,650 500 17,100 94,000 Prepaid Expenses Other Current Assets Total Current Assets Property and Equipment, Net Total Assets Current Liabilities Long-Term Liabilities $14,000 14,000 $15,000 19,250 34, 250 18,400 2,950 41,850 21,358 40,250 55,250 Total Liabilities Common Stock Retained Earnings 54,250 34125 69,25 32, 500 37,500 4,350 9,200 41,700 Total Stockholders' Equity $95,950 $111,100 55,600 Total Liabilities and Stockholders Equity Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Interest Expense Income before Income Tax Expense Income Tax Expense Net Income $ 87,500 63,500 $ 51,500 39,500 12,000 7,750 4,250 1,250 3,000 1,250 69,500 18,000 4,750 13,250 1,450 11,800 3,800 500 52,50e 11,000 2,750 8,250 3,550 4,700 1,550 $ 8,000 3,150 1,750 Required 1-a. Calculate the gross profit percentage, return on equity, and fixed asset turnover ratio for 2018 and 2017. 1-b. Was NGS more profitable in 2018 or 2017? 2. Calculate the current ratio for 2018 and 2017 3-a. Calculate the debt-to-assets ratio and times interest earned ratio for 2018 and 2017 3-b. Was NGS more solvent in 2018 or 2017? Req 1A Req 1B Req 2 Req 3A Req 3B Calculate the gross profit percentage, return on equity, and fixed asset turnover ratio for 2018 and 2017. (Round your answers to 2 decimal places.) 2017 Gross Profit Percentage Return on Equity Fixed Asset Turnover Ratio 2018 20.57 % | 17.32 % 22.02 % | 13.77>6 Req 1A Req 1B Req 2 Req 3A Req 3B Calculate the current ratio for 2018 and 2017. (Round your answers to 2 decimal places.) 2018 2017 Current Ratio Req 1A Req 1B Req 2 Req 3A Req 3B Calculate the debt-to-assets ratio and times interest earned ratio for 2018 and 2017. (Round your answers to 2 decimal places.) 2018 2017 Debt to Assets Ratio Times Interest Earned Ratio