P14-9 (similar to) s Question Help Calculate the current ratio, quick ratio, and cash ratio for Tyler Toys for 2013 and 2014. Should any of these ratios or the change in a ratio warrant Financial ratios: Liquidity. The financial statements for Tyler Toys, Inc. are shown in the popup window: E concern for the managers of Tyler Toys or the shareholders? What is the current ratio for 2014? (Round to four decimal places.) Enter your answer in the answer box and then click Check Answer. ? 6 parts Clear All Check Answer remaining $ Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue $ 14,146,394 $ 13,566,375 Cost of goods sold -8,448,158 $ -8,132,216 Selling, general, and administrative expenses $ -998,104 $ -981,211 Depreciation -1,497,653 $ -1,471,119 | EBIT $ 3,202,479 $ 2,981,829 Interest expense -375,010 $ -355,506 Taxes -1,074,438 $ -998,003 Net income 1,753,031 $ 1,628,320 $ $ $ $ $ $ Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LIABILITIES 2014 2013 Current assets Current liabilities Cash $ 191,969 $ $ 1,545,840 $ 1,455,383 187,046 Accounts payable 120,615 Short-term debt Investments $ 180,829 $ $ 311,688 $ 332,666 Accounts receivable $ 630,457 Total current liabilities $ 1,857,528 $ 1,788,049 667,200 $ 588,651 $ Inventory $ 563,602 Long-term liabilities 1,501,720 Debt Total current assets $ 1,628,649 $ $ 7,286,442 $ 1,463,568 $ 6,604,779 1,345, 147 Long-term assets Other liabilities $ Investments $ 3,053,115 $ 2,828,732 Total liabilities $ 10,607,538 $ 9,737,975 Plant, property, and equipment $ 8,497,988$ 8,481,167 OWNERS' EQUITY Goodwill $ 348,358$ 347,430 Common stock $ 1,454,724 1,458,591 $ 2,620,467 $ Intangible assets $ 1,158,486 $ 2,922,988 956,638 Retained earnings Total owners' equity $ 4,079,058 $ 4,377,712 TOTAL LIABILITIES TOTAL ASSETS $ 14,686,596 $ 14,115,687 AND OWNERS' EQUITY $ 14,686,596 $ 14,115,687