Comparative financial statement data of Lanfield, Inc. follow: (Click the icon to view the additional financial information.) Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ration = Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) 2024 2023 Current ratio Requirement 1b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Cash ratio = Now, compute the cash ratios for 2024 and 2023. (Round your answers to two decimal places, XXX.) Cash ratio. 2024 2023 Comparative financial statement data of Lanfield, Inc. follow: BEE (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements Requirement 1c. Compute the times-interest-earned ratios for 2024 and 2023. Begin by selecting the formula to compute the times-interest-earned ratio. Times-interest-earned ratio Now, compute the times-interest-earned ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Times-interest-earned ratio 2024 2023 Requirement 1d. Compute the inventory turnover ratios for 2024 and 2023. Begin by selecting the formula to compute the inventory turnover ratio. Inventory turnover ratio Now, compute the inventory turnover ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Inventory turnover ratio 2024 2023 Ne K Comparative financial statement data of Lanfield, Inc. follow (Click the icon to view the income statement.) BBB (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements. Requirement 1e. Compute the gross profit percentage for 2024 and 2023. Begin by selecting the formula to compute the gross profit percentage. Gross profit percentage Now, compute the gross profit percentage for 2024 and 2023. (Round your answers to one tenth of a percent, XX. Do not enter the %. For example, enter 10.2% as 10.2.) 2024 2023 Gross profit % % % Requirement 1f. Compute the debt to equity ratios for 2024 and 2023. Begin by selecting the formula to compute the debt to equity ratio. Debt to equity ratio = Now, compute the debt to equity ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) 2024 2023 Debt to equity ratio Requirement 1a. Compute the rate of return on common stockholders' equity for 2024 and 2023 K Comparative financial statement data of Lanfield, Inc. follow: BEE (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements. Requirement 1g. Compute the rate of return on common stockholders' equity for 2024 and 2023. Begin by selecting the formula to compute the rate of return on common stockholders' equity. Rate of return on common stockholders' equity Now, compute the rate of return on common stockholders' equity for 2024 and 2023. (Round your answers to one tenth of a percent, X.X. Do not enter the %. For example, enter 10.2% as 10.2.) Rate of return on common stockholders' 2024 2023 equity % % % Requirement 1h. Compute the earnings per share of common stock for 2024 and 2023. Begin by selecting the formula to compute the earnings per share of common stock. Earnings per share = Now, compute the earnings per share for 2024 and 2023. (Round your answers to the nearest cent, SX.XX.) Earnings per share of common stock 2024 K Comparative financial statement data of Lanfield, Inc. follow: BBB (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements. 2024 2023 Earnings per share of common stock Requirement 1i. Compute the price/earnings ratio for 2024 and 2023. Begin by selecting the formula to compute the price/earnings ratio. Price/earnings ratio B Now, compute the price/earnings ratio for 2024 and 2023. (Round your interim calculations and final answers to two decimal places, X.XX.) Price/earnings ratio 2024 2023 Requirement 2. Decide (a) whether Lanfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock ap increased or decreased. (a) Did Lanfield's ability to pay its debts and to sell inventory improve or deteriorate during 2024? (b) Did the investment attractiveness of Lanfield's common stock appear to have increased or decreased? comm on stock 1. Compute the price/earn ng the formula to comput ratio 11 he price/earnings ratio for ice/earnings ratio Income Statement Lanfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 - . X places, X.XX.) 2023 Net Sales Revenue $ 461,000 $ 431,000 242,000 217,000 Cost of Goods Sold Gross Profit 219,000 214,000 Decide (a) whether Lanf creased. 138,000 Operating Expenses 136,000 4 and (b) whether the inves Income From Operations 81,000 78,000 s ability to pay its debts a Interest Expense 12,000 16,000 Income Before Income Tax tment attractiveness of L 69,000 62,000 Income Tax Expense 21,000 25,000 S 48,000 $ 37,000 Net Income I Print Done Click the icon to Earnings of comm Balance Sheet Lanfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022* - X nts. rement 1i. Com Assets by selecting the Current Assets: earnings ratio Cash $ 94,000 $ 91,000 ompute the pric Price/ea Accounts Receivables, Net 111,000 120,000 $ 104,000 XX.) rati Merchandise Inventory Prepaid Expenses 150,000 161,000 211,000 18,000 7,000 Total Current Assets 373,000 379,000 Property, Plant, and Equipment, Net 212,000 175,000 ment 2. Decid ed or decrease anfield's ability $ 585,000 $ 554,000 Total Assets ether the investment $602,000 Liabilities Total Current Liabilities $ 226,000 $ 247,000 he investment Long-term Liabilities 117,000 Print Done 99,000 rative financial statement data of Lanfield, Inc. follow. ick the icon to view the income statement.) ick the icon to v Balance Sheet (Click the icon to view the additional financial info - Xnts. 13 Earnings Accounts Receivables, Net 111,000 120,000 $ 104,000 of comm Merchandise Inventory 150,000 161,000 211,000 Prepaid Expenses 18,000 7,000 Total Current Assets 373,000 379,000 ment 1i. Com 212,000 Property, Plant, and Equipment, Net 175,000 w selecting the $ 585,000 $ 554,000 Total Assets $602,000 arnings ratio Liabilities mpute the pric Total Current Liabilities Price/ear rati Long-term Liabilities Total Liabilities $ 226,000 $ 247,000 117,000 99,000. 343,000 346,000 ment 2. Decid d or decrease anfield's ability e investment Stockholders' Equity Preferred Stock, 6% Common Stockholders' Equity, no par Total Liabilities and Stockholders' Equity Selected 2022 amounts S XX.) 96,000 96,000 ether the investment attractive 146,000 112,000 89,000 585,000 $ 554,000 Print Done data of Lanfield, Inc. follow the icon to view the income statement.) the icon to view the balance sheet.) Requirements (Click the icon to view th Read the requirements. Earnings per s of common st ent 1i. Compute electing the form 1. Compute the following ratios for 2024 and 2023: ings ratio ute the price/ear 2. Price/earning ratio 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 Decide (a) whether Lanfield'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. ent 2. Decide (a) or decreased. Print Done field's ability to pay its debts and to sell inventory improve or deteriorate during 2024? nvestment attractiveness of Lanfield's common stock appear to have increased or decreased? R K.) ther the