The balance sheet at December 31, 2018, 2019) and 2020 and income statement for the years ended December 31, 2018, 2019, and 2020 for Ojibway Inc. include the following data:

Requirements
Use the years of data to answer the following:
1. Calculate the current ratio for 2018,2019 , and 2020.
2. Calculate the debt ratio for 2018,2019 , and 2020 .
3. Evaluate each ratio and determine if the ratio has improved or deteriorated over the three years. Explain what the changes mean.

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Ojibway Inc. Balance Sheet As at December 31 (in thousands) Assets Current assets Cash Accounts receivable Total current assets. Furniture and equipmen:, net. Total assets Liabilities Current liabilities Accounts payable Salaries payable. Total current Habilities Notes payable Total liabilities Shareholders' equity Sharecolders' equity. Total liabilities and shareholders' equity Ojibway Inc. Income Statement For the year ended December 31 (in thousands) 2020 2019 2018 $ 3.0 $ 1.0 $ 0.5 8.0 5.0 3.5 11.0 6.0 4.0 16.0 9.5 3.0 $ 27.0 $ 15,5 $7.0 $ 5.0 $ 4.5 $3.0 1.5 1.0 0.5 6.5 5.5 3.5 9.0 50 3.5 15.5 10.5 7.0 11.5 5.0 0.0 $ 27.0 $ 15.5 $7.0