Succeed's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) E (Click the icon to view the balance sheets.) Succeed's has 20,000 common shares outstanding during 2018. Read the requirements. Requirement 1. Compute Succeed's Companies' current ratio at May 31, 2018 and 2017. Begin by selecting the formula to calculate Succeed's Companies' current ratio. Then enter the amounts and calculate the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.XX.) Total current assets / Total current liabilities Current ratio 2018 Succeed's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 55,400 $ 43,800 Cost of Goods Sold 20,600 29,300 Interest Expense 700 460 All Other Expenses 6,700 7,800 $ 27,400 $ 6,240 Net Income Succeed's Companies Balance Sheet May 31, 2018 and 2017 Assets Liabilities 2018 2017 2018 2017 Cash $ 2,000 $ 1,900 Total Current Liabilities 21,000 $ 14,100 13,300 11,300 Short-term Investments 26,000 14,000 Long-term Liabilities Accounts Receivable 7,200 5,400 Total Liabilities 35,100 24,600 Merchandise Inventory Stockholders' Equity 7,200 10,000 8,200 2,300 Other Current Assets Common Stock 10,000 36,300 10,000 21,200 Total Current Assets 52,400 29,000 All Other Assets 31,800 Retained Earnings 24,000 Total Equity 55,800 Total Liabilities and Equity 46,300 31,200 $ 81,400 $ $ 81,400 $ 55,800 Total Assets