Requirement 1. Calculate Greatland's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. Start by determining the formula for each ratio, beginning with the current ratio, followed by the debt ratio, and then earnings per share. Current assets Total liabilities Current liabilities Total assets Current ratio Debt ratio )+ Common shares outstanding Earnings per share Net income Preferred dividends Now compute Greatland's current ratio, debt ratio, and earnings per share. (Round all ratios to two decimal places.) Current ratio 1.60 Debt ratio 0.57 Earnings per share 2.15 Requirement 2. Calculate the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. (Round all ratios to two decimal places.) Current ratio a. 2.15 Debt ratio 1.60 Earnings per share 2.15