Problem 3-17 Calculating Financial Ratios [LO2] Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Net plant and equipment Total assets JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities 2020 $6,600 $12,750 12,200 14,250 78,200 95,250 $ 97,000 $122,250 303,000 $377,750 $ 400,000 500,000 Accounts payable Notes payable Total Total 2020 2021 $50,000 $68,750 19,000 35,500 Long-term debt Owners' equity Common stock and paid-in surplus $50,000 $50,000 Retained earnings 233,000 300,750 Total liabilities and owners' equity. $ 69,000 104,250 $ 48,000 $45,000 $ 283,000 350,750 400,000 500,000 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.) 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.) 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 2020 times times times % times times times times 2021 times times times % times times times times