Comparative financial statements for The Cable Company Ltd. are shown below.

Additional information:
1. All sales were on account.
2. The allowance for doubtful accounts was $5,400 in 2017 and $5,100 in 2016.
3. On July 1, 2017, 4,000 shares were reacquired for $10 per share and cancelled.
4. In 2017, $5,000 of dividends were paid to the common shareholders.
5. Cash provided by operating activities was $316,200.
6. Cash used by investing activities was $161,300.
Instructions
Calculate all possible liquidity, solvency, and profitability ratios for 2017.
TAKING IT FURTHER
Based on the ratios you have calculated for 2017, can you determine whether The Cable Company's liquidity, solvency, and profitability are strong or weak? If not, what additional information would you require?

THE CABLE COMPANY LTD. Income Statement Year Ended December 31 2017 2016 Net sales Cost of goods sold Gross profit Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit $1,948,500 $1,700,500 946,000 754,500 449,000 305,500 19,000 286,500 86,000 $265,300 200,500 1,025,500 923,000 516,000 407,000 28,000 379,000 113,700 THE CABLE COMPANY LTD. Balance Sheet December 31 Assets Current assets 2017 2016 Cash Accounts receivable Inventory 68,100 107,800 143,000 318,900 679,300 $998,200 $ 64,200 102,800 115,500 282,500 570,300 $852,800 Total current assets Property, plant, and equipment Total assets Current liabilities Accounts payable Income tax payable Current portion of mortgage payable $155,000 43,500 10,000 208,500 104,000 312,500 $125,400 42,000 20,000 187,400 200,000 387,400 Total current liabilities Mortgage payable Total liabilities Shareholders' equity Retained earnings Common shares (56,000 issued in 2017; 60,000 in 2016) 168,000 517,700 685,700 $998,200 180,000 285,400 465,400 $852,800 Total shareholders' equity Total liabilities and shareholders' equity