Requirement $1.$ Compute Road Trip, Inc.$\text{'}$s current ratio, debt ratio, and earnings per share. Round all ratios to two decimal Begin by selecting the formula for each ratio.

Current ratio $=$ Total current assets $$ Total current liabilities

Debt ratio $=$ Total liabilities $+$ Total assets

Earnings per share $=($Net income $-$ Preferred dividends$)$ Weighted average number of common shares outstanding

Now, compute Road Trip, Inc.$\text{'}$s current ratio, debt ratio, and earnings per share. $($Round all ratios to two decimal places, X$.$X

$\backslash$table$[[$Current Ratio,Debt Ratio,Earnings per Share$]]$

Requirement $2.$ Compute the three ratios after evaluating the effects of each transaction. Consider each transaction separa

a$.$ Purchased merchandise inventory of $$46,000$ on account.

$$

b$.$ Borrowed $$120,000$ on a long$-$term note payable. $q,$

Data

$\backslash$table$[[$Cash$,$$$,25,000],[$Accounts Receivable, Net,,$77,000],[$Merchandise Inventory,,$182,000],[$Total Assets,,$635,000],[$Accounts Payable,,$107,000],[$Accrued Liabilities,,$43,000],[$Short$-$term Notes Payable,,$42,000],[$Long$-$term Liabilities,,$216,000],[$Net Income,,$76,000],[$Common Shares Outstanding,,$50,000$ shares$]]$