P3-17 Calculating Financial Ratios (LO2] Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. $ 121,250 $ 108,000 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners' Equity 2017 2018 2017 2018 Current assets Current liabilities $ 10,550 Cash $ 73,000 $ 10,150 Accounts payable $ 58,750 Accounts receivable 27,450 28,450 Notes payable 48,250 49,250 Inventory 62,200 63,600 Total Total $ $ 60,700 $ 64,400 Owners' equity Common stock and paid-in $ 90,000 $ 90,000 surplus Fixed assets Retained earnings 150,250 180,800 Net plant and $ Total equipment Total liabilities and Total assets owners' equity $100,200 $ 102,200 Long-term debt $ 322,000 $ 341,000 $ 422,2009 443,200 $ 240,250 $ 270,800 $ 422,200 $ 443,200 Based on the balance sheets given for Just Dew It, calculate the following financial ratios for the year 2017 a. Current ratio b. Quick ratio C. Cash ratio O