Use the balance sheets of Glover shown below to calculate the following ratios for Year 2 (round to the hundredths):

(a) Current ratio.

(b) Acid-test ratio.

(c) Debt ratio.

(d) Equity ratio.

Glover Company Balance Sheets For the years ended December 31
	Year 2	Year 1
Assets:
Cash	$ 43,000	$ 22,000
Accounts receivable	38,000	42,000
Merchandise inventory	61,000	52,000
Prepaid insurance	6,000	9,000
Long-term investments	49,000	20,000
Plant assets (net)	218,000	218,000
Total assets	$415,000	$363,000
Liabilities and Equity:
Current liabilities	$ 62,000	$ 75,000
Long-term liabilities	45,000	36,000
Common stock	150,000	150,000
Retained earnings	158,000	102,000
Total liabilities and equity	$415,000	$363,000