Comparative financial statement data of Ranfield, 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 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio 13 Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, XXX) 2024 2023 Current ratio Requirement 1b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Cach ratin Ranfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue Cost of Goods Sold $ 459,000 $ 424,000 244,000 215,000 Gross Profit 215,000 209,000 Operating Expenses 134,000 132,000 Income From Operations 81,000 77,000 10,000 15,000 Interest Expense Income Before Income Tax 71,000 62,000 19,000 27,000 Income Tax Expense $ 52,000 $ 35,000 Net Income Assets Current Assets: Cash Ranfield, Inc. Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 2022 $ 9100 $ 88,000 Accounts Receivables, Net Merchandise Inventory 108,000 115,000 $ 103,000 150,000 161,000 209,000 16,000 8,000 Prepaid Expenses Total Current Assets 365,000 372,000 Property, Plant, and Equipment, Net 216,000 172,000 $ 581,000 $ 544,000 Total Assets $596,000 Liabilities Total Current Liabilities 226.000 $ 245.000 MCT Chiatiuise memory Prepaid Expenses Total Current Assets Property, Plant, and Equipment, Net Total Assets Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities 100,000 203,000 16,000 8,000 365,000 372,000 216,000 172,000 $ 581,000 $ 544,000 $596,000 $ 226,000 $ 245,000 116,000 98,000 342,000 343,000 Stockholders' Equity Preferred Stock, 4% 104,000 104,000 135,000 Common Stockholders' Equity, no par 97,000 90,000 $ 581,000 $ 544,000 Total Liabilities and Stockholders' Equity * Selected 2022 amounts Additional Financial Information 1. Market price of Ranfield's common stock: $61.56 at December 31, 2024, and $40.29 at December 31, 2023. 2. Common shares outstanding: 15,000 on December 31, 2024 and 13,000 on December 31, 2023 and 2022 3. All sales are on credit Print Done I 1. Compute the following ratios for 2024 and 2023: 2. 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 Ranfield'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.