Comparative financial statement data of Hanfield, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Requirement 1a. 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.X Current ratio 2024 2023 Income Statement Hanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 - X Balance Sheet (Click the icon to view the additional financial infor Read the requirements Hanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022 Assets Current Assets: Cash S 96,000 $ 93,000 Accounts Receivables, Net 108,000 115,000 $ 106,000 Merchandise Inventory 144,000 161,000 209,000 19,000 7,000 Prepaid Expenses Total Current Assets 367,000 376,000 Property, Plant, and Equipment, Net Total Assets 220,000 182,000 S 587,000 $ 558,000 $597,000 Liabilities 2024 2023 Total Current Liabilities Net Sales Revenue Cost of Goods Sold Gross Profit $ 467,000 $425,000 243,000 218,000 224,000 207,000 137,000 135,000 Long-term Liabilities Total Liabilities $ 230,000 $241,000 115,000 100,000 345,000 341,000 Operating Expenses Stockholders' Equity Income From Operations 87,000 72,000 Preferred Stock, 3% Interest Expense 9,000 11,000 110,000 132,000 107,000 110,000 Common Stockholders' Equity, no par 90,000 S 587,000 $ 558,000 Income Before Income Tax 78,000 61,000 20,000 23,000 Income Tax Expense Total Liabilities and Stockholders' Equity * Selected 2022 amounts $ 58,000 $ 38,000 t pages Calculat Net Income - Requirements 1. Compute the following ratios for 2024 and 2023: a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio 2. Decide (a) whether Hanfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. Print Done -