(Working with financial statements) Given the balance sheet, and income statement, for Knapp Inc.: a. How much is the firm's net working capital and what is the debt ratio? b. Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2018. Assets 2017 2018 Cash $ 200 $ 151 Accounts receivable 450 415 550 623 Inventory Current assets $ 1,200 $ 1,189 Plant and equipment $ 2,200 $ 2,626 (1,206) Less accumulated depreciation (1,000) $ 1,200 $ 1,420 Net plant and equipment $ 2,400 $ 2,609 Total assets Liabilities and Owners' Equity 2017 2018 Accounts payable $ 200 $ 157 0 136 Notes payable-current (9%) $ 200 $ 293 Current liabilities $ 600 $ 600 Bonds Owners' equity Common stock $ 900 $ 900 700 816 Retained earnings $ 1,600 $ 1,716 Total owners' equity $ 2,400 $ 2,609 Total liabilities and owners' equity Knapp Inc. Income Statement for Years Ended 1/31/2017 and 1/31/2018 2017 2018 Sales $ 1,200 $ 1,460 700 853 Cost of goods sold $ 500 $ 607 Gross profit Selling, general and administrative expenses $ 30 $ 40 220 250 206 246 Depreciation Operating income $ 250 $ 361 50 55 Interest expense Net income before taxes $ 200 $ 306 80 122 Taxes (40%) $ 120 $ 184 Net income