E3-2 (Analyzing financial statements) Excerpts from the financial statements of Mayberry are provided below. 1997 1996 1995 Balance Sheet Current assets $40,000 $44,000 $ 47,000 Long-term assets 86,000 90,000 95,000 Current liabilities 30,000 30,000 25,000 Long-term debt 50,000 40,000 30,000 Stockholders’ equity 46,000 64,000 87,000 Income Statement Sales $ 79,000 $95,000 $ 94,000 Net income 18,000 26,000 27,000 REQUIRED: Review this information, calculate relevant ratios from Figure 3-16, and explain why Mayberry appears to be a good or poor investment.