W P15-27A (similar to) Question Help Comparative financial statement data of Manfield, Inc, follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements. Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio. Current ratio = Total current assets / Total current liabilities Now, compute the current ratios for 2018 and 2017. (Round your answers to two decimal places, X.XX.) 2018: 1.63 2017: 1.56 Requirement 1b. Compute the cash ratios for 2018 and 2017 Begin by selecting the formula to compute the cash ratio. Cash ratio = (Cash + Cash equivalents) / Total current liabilities Now, compute the cash ratios for 2018 and 2017. (Round your answers to two decimal places, X.XX.) 2018: 2017: M 0 Enter any number in the edit fields and then click Check Answer ? 16 parts remaining Clear All Final Check F1 F2 F3 F4 F5 F6 27A (similar to) financial statement data of Manfield, Click the icon to view the additional e icon to . 0 Income Statement e icon to nt 1a. Manfield, Inc. Comparative Income Statement electing til 11 cio Years Ended December 31, 2018 and 2017 2018 2017 bute the c ces, Net Sales Revenue 1.63 $ 466,000 $ 426,000 238,000 216,000 Cost of Goods Sold 1.56 Gross Profit ment 1b. 228,000 132,000 selecting to Operating Expenses Income From Operations Interest Expense Income Before Income Tax 210,000 130,000 80,000 11,000 tio = (ca 96,000 10,000 mpute the c 86,000 21,000 Income Tax Expense 69,000 26,000 es, X.XX Net Income $ 65,000 $ 43,000 Print Done any number in the edit fields and then click Check Answer parts remaining Clear All Final Check Manfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016* Assets Current Assets: Cash $ 91,000 $ 112,000 Accounts Receivables, Net Merchandise Inventory Prepaid Expenses Total Current Assets 89,000 119,000 $ 102,000 161,000 206,000 8,000 148,000 17,000 w 368,000 216,000 377,000 182,000 Property, Plant, and Equipment, Net Total Assets $ 584,000 $ 559,000 $602,000 Liabilities Total Current Liabilities $ Long-term Liabilities Total Liabilities 226,000 $ 116,000 242,000 97,000 342,000 339,000 Print Done 16 parts remaining Clear All Final Check NI - - Balance Sheet Current Assets: Cash 91,000 $ Accounts Receivables, Net 112,000 89,000 119,000 $ 102,000 161,000 206,000 8,000 Merchandise Inventory 148,000 17,000 Prepaid Expenses Total Current Assets 368,000 216,000 377,000 182,000 Property, Plant, and Equipment, Net Total Assets $ 584,000 $ 559,000 $602,000 Liabilities Total Current Liabilities $ 226,000 $ 10116,000 Long-term Liabilities Total Liabilities 242,000 97,000 342,000 339,000 Stockholders' Equity Preferred Stock, 6% 108,000 134,000 Common Stockholders' Equity, no par Total Liabilities and Stockholders' Equity * Selected 2016 amounts 108,000 112,000 559,000 86,000 $ 584,000 $ Print Done 16 parts remaining Clear All Final Check Begin by selecting the formula to compute the current ratio. Current ratio Total current assets / Total current liabilities Additional Financial Information - X A 1. Market price of Manfield's common stock: $72.72 at December 31, 2018, and $44.37 at December 31, 2017 2. Common shares outstanding: 15,000 on December 31, 2018 and 14,000 on December 31, 2017 and 2016. 3. All sales are on credit. Print Done 2018: 2017: Enter any number in the edit fields and then click Check Answer. ? 16 pants Clear All Final Check remaining Current ratio Total current assets/Total current liabilities Now i Requirements - X - 204 201 Reg Beg Cas Now 1. Compute the following ratios for 2018 and 2017: a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio Decide (a) whether Manfield's ability to pay debts and to sell inventory improved or deteriorated during 2018 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. 201 201 2. Print Done Ente ? 16 parts remaining Clear All Final Check