A company's balance sheet at December 31, 2015, 2016, and 2017 and income statement for the years ended December 31, 2015, 2016, and 2017 include the data on pages 169-170.
Requirements
Use the years of data to answer the following:
1. Calculate the current ratio for 2015, 2016, and 2017.
2. Calculate the debt ratio for 2015, 2016, and 2017.
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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Balance Sheet As at December 3] in thousands) 2017 2016 2015 Assets Current assets Cash Accounts receivable $6.0 11.0 17.0 19.0 $36.0 $ 4.0 8.0 12.0 12.5 $24.5 $ 3.5 6.5 10.0 6.0 $16.0 Total current assets Furniture and equipment, net Total assets Liabilities Current liabilities Accounts payable Salaries payable 7.0 4.0 11.0 6.0 17.0 $6.0 3.5 9.5 5.5 15.0 $ 8.0 Total current liabilities Notes payable 12.5 12.0 24.5 Total liabilities Shareholders' equity Shareholders' equity 11.5 $36.0 7.5 $24.5 1.0 $16.0 Total liabilities and shareholders' equity Income Statement For the year ended December 31 (in thousands) 2017 2016 2015 Revenue Service revenue $110.0 $99.0 $75.0 Expenses Sala ry 65.0 59.0 18.0 6.0 4.5 3.0 90.5 8.5 2.0 $ 6.5 48.0 ent 20.0 17.0 Supplies Utilities 6.0 6.0 104.5 5.5 epreciation Total expenses 2.0 73.5 1.5 Income before taxes Income tax expense Net income $ 4.0 $1.0