Problem 3-17 Calculating Financial Ratios (LO2] Just Dew It Corporation reports the following balance sheet Information for 2017 and 2018 Assets 2017 2018 $ Current assets Cash Accounts receivable Inventory 14,200 19,000 51,800 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 18,260 Accounts payable $ 58,400 23.100 Notes payable 23,400 54.780 $ 96,140 Total $ 81,800 $ 61,820 25,000 Total $ 85,000 $ 86.900 $ 22,000 Long-term debt $ 32,000 Owners' equity Common stock and paid-in surplus Retained earnings $44,000 242,200 $44,000 287100 Net plant and equipment $ 315,000 $343,860 Total $286,200 $ 331100 Total assets $400,000 $440,000 Total liabilities and owners' equity $400,000 $440,000 Based on the balance sheets given for Just Dew it .. Calculate the current ratio for each year. (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) C. Calculate the cash ratio for each year. ( Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Calculate the NWC to total assets ratio for each year. (Do not round Intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g. 32.16.) e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g. 32.16.) Calculate the total debt ratio and long-term debt ratio for each year. (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g. 32.16.)