The comparative statements of Corbin Company are presented below CORBIN COMPANY Income Statement For the Years Ended December 31 Net sales (all on account) Expenses $600,500 $520,500 Cost of goods sold Selling and administrative Interest expense Income tax expense 414,000 119,000 8,500 17,600 9,100 41,400 353,300 114,800 5,400 14,500 488,000 32,500 Total expenses CORBIN COMPANY Balance Sheets Cash Short-term investments Accounts receivable (net) 21,400 18,000 85,500 89,200 214,100 423,800 $637,900 s17,500 14.100 73,100 69,900 174,600 383,500 $558,100 Total current assets Plant assets (net) Total assets Liabilities and Stockholders Equity Current liabilities Accounts payable $109,400 20,300 129,700 Income taxes payable 22,100 Total current liabilities 145,100 Long-term liabilities Bonds payable otal liabilities Stockholders' equity 121,000 80,000 266,100 209,700 Common stock ($5 par) Retained earnings 149,000 222,800 71,800 49,000 199,400 348,400 $558,100 Total stockholders equity Total liabilities and stockholders equity $637,900 Additional data The common stock recently sold at $19.95 per share. Compute the following ratios for 2017. (Round Acid-test ratio and Earnings per share to 2 decimal places, e.g. 1.65, and all other answers to 1 decimal place, e.g.6.8 or 6.8% (a) Cunrent ratio. (b) Acid-test ratio. (c) Accounts receivable turnover