Big Time Photo Shop has asked you to determine whether the company's ability to pay current liabilities and total liabilities improved or deteriorated during 2024. To answer this question, you gather the following data: (Click the icon to view the data.) Read the requirements. a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio = Total current assets + Total current liabilities Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Current ratio 2024 2023 Data table x Requirements 2024 2023 Cash $ 50,000 $ 49,000 a. Current ratio Short-term Investments 29,000 b. Cash ratio Compute the following ratios for 2024 and 2023, and evaluate the company's ability to pay its current liabilities and total liabilities: d. Debt ratio e. Debt to equity ratio Net Accounts Receivables 116,000 Merchandise Inventory 207,000 128,000 262,000 c. Acid-test ratio Total Assets Total Current Liabilities 510,000 490,000 285,000 232,000 Print Done Long-term Notes Payable Income from Operations 42,000 58,000 168,000 168,000 Interest Expense 48,000 37,000