Question: I need help on the Long-Term Debt Ratios for this question! I got everything else right - except for that one I'm stuck on it

I need help on the Long-Term Debt Ratios for this question!

I need help on the Long-Term Debt Ratios for this question! I

I got everything else right - except for that one I'm stuck on it - thanks!

Assets 2018 Current assets Cash Accounts receivable Inventory Total $ 43,805 16,843 BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity 2017 2018 2017 Current liabilities $ 9,279 $ 11,173 Accounts payable $ 41,060 23,683 25,760 Notes payable 16,157 42,636 46,915 $ 75,598 $ 83, 848 Total $ 57,217 Long-term debt $ 40,000 Owners' equity $ 272,047 $297,967 Common stock and paid-in surplus $ 50,000 Retained earnings 200,428 Total $250,428 $347,645 $381,815 Total liabilities and owners' equity $347,645 $ 60,648 $ 35,000 Fixed assets Net plant and equipment $ 50,000 236, 167 $286, 167 $391,815 Total assets Based on the statement of financial position given for Birtle: a. Calculate the current ratio for each year. (Round the final answers to 2 decimal places.) 2017 1.32 2018 1.38 Current ratio times times b. Calculate the quick ratio for each year. (Round the final answers to 3 decimal places.) 2017 0.580 2018 0.610 Quick ratio times times c. Calculate the cash ratio for each year. (Round the final answers to 3 decimal places.) 2017 0.160 2018 0.180 Cash ratio times times d. Calculate the NWC to total assets ratio for each year. (Round the final answers to 1 decimal place.) 2018 2017 5.3 NWC ratio e. Calculate the debt-equity ratio and equity multiplier for each year. (Round the final answers to 2 decimal places.) Debt-equity ratio 2017 0.39 1.39 times 2018 0.33 1.33 times Equity multiplier f. Calculate the total debt ratio and long-term debt ratio for each year. (Round the final answers to 3 decimal places.) 2017 2018 Total debt ratio 0.280 times 0.250 times Long-term debt ratio 0.120 times 0.090 times

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