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Question 2, P12-59A (similar to) Part 1 of 17 HW Score: 14.84%, 1.48 of 10 points O Points: 0 of 7 Save Other information: 1 Market price of Trombly Optical Mart common stock: $126.31 at December 31, 2018, and $91.46 at December 31, 2017 2. Common shares outstanding: 14,000 during 2018 and 13,000 during 2017 3. All sales on credit 4. Cash dividends paid per share: $0.90 in 2018 and $0.60 in 2017 = Homework: Assignment 20 Comparative financial statement data of Trombly Optical Mart follow: (Click on the icon to view the income statements.) (Click on the icon to view the balance sheets.) Read the requirements. (ID) Requirement 1. Calculate the ratios for 2018 and 2017. (Abbreviations used: Avg = average and o/s = outstanding.) a. Current ratio Select the formula and then enter the amounts to calculate the current ratio for 2018 and 2017. (Round the ratios to two decimal places, X.XX.) = Current ratio 2018 2017 = Hon Question 2, P12-59 Part 1 of 17 X Save Data table Data table Comparativ (Click (Click mber 31, Trombly Optical Mart Comparative Income Statements Years Ended December 31, 2018 and 2017 2018 2017 Trombly Optical Mart Comparative Balance Sheets December 31, 2018 and 2017 Read the re 2018 2017 2016* Current assets: Net sales $ 676,000 $ 375,000 593,000 281,000 Cash $ 30,000 $ 32,000 Cost of goods sold Gross profit Current receivables, net 159,000 $ 136,000 301,000 126,000 312,000 150,000 Inventories 215,000 300,000 8,000 182,000 Operating expenses Income from operations 282,000 24,000 Prepaid expenses Requireme 175,000 33,000 162,000 46,000 putstanding.) Total current assets 553,000 290,000 Interest expense 497,000 272,000 a. Current Property, plant, and equipment, net Income before income tax Select the 142,000 38,000 116,000 46,000 the ratios to two decimal plac Total assets $ 843,000 $ 769,000 707,000 Income tax expense $ 104,000 $ 70,000 Net income 2018 Accounts payable 120,000 $ 110,000 $ 105,000 126,000 172,000 2017 Other current liabilties Print Done Print Done Homework: Assignment 20 Data table Comparative fi (Click on t (Click on t Read the requi Requirement a. Current ratio Select the form 2018 2017 Demodoc Inventories Prepaid expenses Total current assets Property, plant, and equipment, net Total assets Accounts payable Other current liabilties Total current liabilities Long-term liabilities Total liabilities Common stockholders' equity, no par Total liabilities and stockholders' equity * Selected 2016 amounts. Print Question 2, P12-59A (similar to) Part 1 of 17 300,000 282,000 182,000 8.000 24,000 553,000 497,000 272,000 290,000 $ 843,000 $ 769,000 707,000 120,000 $ 110,000 $ 105,000 126,000 172,000 236,000 277,000 247,000 236,000 483,000 513,000 360,000 256,000 194,000 $ 843,000 $ 769,000 Done X HW Score: 14.84%, 1.48 of 10 points O Points: 0 of 7 Save Other information: 1. Market price of Trombly Optical Mart common stock: $126.31 at December 31, 2018, and $91.46 at December 31, 2017 2. Common shares outstanding: 14,000 during 2018 and 13,000 during 2017 3. All sales on credit 4. Cash dividends paid per share: $0.90 in 2018 and $0.60 in 2017 Check answer ces, X.XX.) Clear all