Managem. MIKE HW Ch 3 & Ch 5 6 Saved Help 9 Assets 2017 5.88 points Current assets Cash Accounts receivable Inventory 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 12,750 Accounts payable $ 50,000 14,250 Notes payable 19,000 95,250 $ 6,600 12,200 2018 $ 68,750 78.200 Book Total 35,500 $ 97,000 $ 122,250 References Total 69,000 Long-term debt $ 104,250 $ 48,000 $ 45,000 Owners' equity Common stock and paid in surplus Retained earnings Net plant and equipment $303,000 $ 50,000 233,000 $ 377,750 Total assets $ 50,000 300,750 Total $400,000 $500,000 $283,000 Total liabilities and owners' equity $ 350.750 Based on the balance sheets given for Just Dew it: $400,000 a. Calculate the current ratio for each vear. (Do not round intermediate calculations $500,000