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 4,000 3,750 1,650 500 17,100 94,000 6,800 3,300 as Accounts Receivable, Net Inventory Prepaid Expenses Other Current Assets 1,950 800 350 450 16,950 79,000 Total Current Assets Property and Equipment, Net 42,000 $95,950 $111,100 $55, 600 Total Assets Current Liabilities Long-Term Liabilities $14,000 14,000 $15,000 19,250 40,250 55,250 69,250 S 37,500 54,250 6018,400 32,500034,250 2,950 21,350 $95,950 $111,100 $55, 600 Total Liabilities Common Stock Retained Earnings 9,200 41,700 4,350 41,850 Total Stockholders' Equity 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 8 0052,500 _39,500 18,000 4,750 13,250 1,450 11,800 3,800 11,000 2,750 8,250 3,550 4,700 1,550 7,750 1,250 3,000 1,250 $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