Part 3 of 20 Comparative financial statement data of Hanfield, Inc. follow: Click the icon to view the income statement.) (Click the icon to view the balance sheet.) i Red +++ Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio, = Total current assets + Total current liabilities Current ratio Now, compute the current ratios for 2018 and 2017. (Round your answers to two decimal places, XXX.) Current ratio 1.61 2018 1.56 2017 Requirement 1b. Compute the cash ratios for 2018 and 2017 Begin by selecting the formula to compute the cash ratio. Cash ratio Get More Help DemoDocs Example out the Drive Fall21 Room HFC nd Average merchandise inventory + Net sales revenue (Cash + Cash equivalents) + Total current liabilities mar co (Cash + Accounts receivable, net) + Total current liabilities cot Cost of goods sold + Average merchandise inventory Gross profit + Net sales revenue 1a. Market price per share of common stock + Earnings per share (Net Income + Income tax expense + Interest expense) + Interest expense (Net income - Preferred dividends) + Average common stockholder's equity (Net income - Preferred dividends) + Weighted average number of common shares outstanding ting the rrei Total current assets + Total current liabilities 1b. Total equity + Total liabilities cting Total liabilities + Total equity Hanfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Hanfield, Inc Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2010 $ 460,000 $426,000 243.000 217.000 $ 200,000 137,000 72.000 13.000 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Income From Operations Interest Expense Income Before Income Tax Income Tax Expense 2.000 110.000 10000 15000 Assets Current Assets Cash Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets Property, plant and Equipment, Mul Total Assets 90.000 3.000 $ 101.000 161.000 210 000 000 217.000 139,000 78,000 11,000 67,000 19.000 48.000 $ 36.000 2100 32.000 INO 5 5.000 $54.000000 50.000 26.000 33,000 be $ 1220001 2000 Todo 00.000 Net Income Total Current Liabilities Long-term Liabilities Hanfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Hanfield, Inc Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2010 $ 460,000 $426,000 243.000 217.000 $ 200,000 137,000 72.000 13.000 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Income From Operations Interest Expense Income Before Income Tax Income Tax Expense 2.000 110.000 10000 15000 Assets Current Assets Cash Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets Property, plant and Equipment, Mul Total Assets 90.000 3.000 $ 101.000 161.000 210 000 000 217.000 139,000 78,000 11,000 67,000 19.000 48.000 $ 36.000 2100 32.000 INO 5 5.000 $54.000000 50.000 26.000 33,000 be $ 1220001 2000 Todo 00.000 Net Income Total Current Liabilities Long-term Liabilities
