Problem 3-17 Calculating Financial Ratios (LO2] Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. 2020 2021 Assets Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2020 2021 Liabilities and Owners' Equity Current liabilities $ 4,350 $9,800 Accounts payable 11,550 14,200 Notes payable 58,350 75,800 $ 48,000 $ 49,800 10,350 18,600 Total $ 74,250 $ 99,800 Total $ 58,350 $ 68,400 Long-term debt $ 42,000 $ 34,000 Owners' equity Common stock and paid-in surplus $ 45,000 $ 45,000 Retained earnings 154,650 252,600 Net plant and equipment $ 225,750 Total $ 199,650 $ 297,600 300,200 Total assets $ $ 300,000 400,000 Total liabilities and owners' equity 300,008 $ 300,000 400,000 Based on the balance sheets given for Just Dew It: . a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) a. 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 and 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.) f. 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.) 2020 times times times % a. Current ratio b. Quick ratio c. Cash ratio d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio 2021 times times times % times times times times times times times times