This Question: 1 pt 11 of 13 (3 complete) Victory's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Victory's has 100,000 common shares outstanding during 2018. Read the requirements Requirement 1. Compute Victory's Companies' current ratio at May 31, 2018 and 2017. Begin by selecting the formula to calculate Victory'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.) Current ratio 2018 Balance Sheets 2017 - Requirement 2. Did Victory's Companies' current ratio improve, deteriorate, or hold steady during 2018? Victory's Companies' current ratio Victory's Companies Balance Sheet May 31, 2018 and 2017 Income Statement - X Liabilities 2018 2017 2017 Assets 2018 $ 2,100 $ 29,000 7.300 7,000 10,000 13.100 12,800 25,900 Cash Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets All Other Assets Victory's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 1,900 Total Current Liabilities S 21,000 $ 11,000 Long-term Liabilities 13,500 5,300 Total Liabilities 34,500 8,200 Stockholders' Equity 2,400 Common Stock 10,000 28,800 Retained Earnings 42.900 52,900 55,800 Total Liabilities and Equity 87,400 $ 2017 $ Net Sales Revenue Cost of Goods Sold Interest Expense 40,900 $ 27,700 55,400 32,000 87,400 $ 10,000 19,900 29,900 55,800 27,000 Total Equity S 39,800 29,300 280 7.100 3,120 Total Assets 500 6,700 All Other Expenses $ 6,000 $ Print Done Net Income Print Done Net income Net sales Total assets Total current assets Total current liabilities Total equity Total liabilities Total liabilities and equity