Use the balance sheets of Glover shown below to calculate the following ratios for 2016 (round to the hundredths):
(a)Current ratio.
(b)Acid-test ratio.
(c)Debt ratio.
(d)Equity ratio. 
Definitions:
Net Operating Income
A company's total earnings derived from its operations, excluding taxes and interest.
Advertising
The activity or profession of producing advertisements for commercial products or services.
Contribution Format
A way of presenting a profit and loss statement where costs are separated into variable and fixed, and the contribution margin is highlighted.
Target Profit
The goal set for the amount of net income a company plans to achieve at a specific time.
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