Use the Balance Sheets of Sando Shown Below to Calculate

Use the balance sheets of Sando shown below to calculate the following ratios for 2013 (round to the hundredths):
(a) Current ratio
(b) Acid-test ratio
(c) Debt ratio
(d) Equity ratio
SANDO COMPANY
Balance Sheets
December 31, 2013
$\begin{array}{|l|r|}\hline \text { Assets: } & \\\hline \text { Cash } & \$ 43,000 \\\hline \text { Accounts receivable } & 38,000 \\\hline \text { Merchandise inventory } & 61,000 \\\hline \text { Prepaid insurance } & 6,000 \\\hline \text { Long-term investments } & 49,000 \\\hline \text { Plant assets (net) } & 218,000 \\\hline \text { Total assets } & \$ 415,000 \\\hline & \\\hline \text { Liabilities and Equity: } & \\\hline \text { Current liabilities } & \$ 62,000 \\\hline \text { Long-term liabilities } & 45,000 \\\hline \text { Common stock } & 150,000 \\\hline \text { Retained earnings } & 158,000 \\\hline \text { Total liabilities and equity } & \$ 415,000\\\hline\end{array}$