Harper's, a home-improvement store chain, reported these summarized figures: View the income statement View the balance sheets. a. Compute Harper's current ratio at December 31, 2023 and 2022. b. Did Harper's current ratio improve, deteriorate, or hold steady during 2023? a. Compute Harper's current ratio at December 31, 2023 and 2022. (Round your answers to two decimal places.) First enter the formula, then compute the current ratio for each year. Current ratio Harper's Income Statement For The Year Ended December 31, 2023 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Net income 2023 $ 40,241,250 21,750,000 $ 18,491,250 5,099, 120 $ 13,392,130 217,400 $ 13,174,730 1,980,100 $ 11,194,630 Harper's Balance Sheets December 31, 2023 and 2022 2023 2022 Assets Current assets: Cash Short-term investments 69 $ 1,220,000 $ 808,000 208,000 270,000 Accounts receivable 100,900 398,500 Inventory 4,680,000 4,100,000 503,000 Other current assets 403,500 Total current assets 6,711,900 $ 5,980,000 12,500,000 Other noncurrent assets 11,690,000 $ 19,211,900 $ 17,670,000 Total assets Liabilities Current liabilities: Accounts payable S 3,250,000 $ 2,975,000 Notes payable 895,000 650,000 Accrued liabilities 265,000 65,000 Total current liabilities 4,410,000 $ 3,690,000 Long-term liabilities 4,297,000 4,210,000 8,707,000 $ 7,900,000 Total liabilities Stockholders' equity Common stock, no par $ 2,501,000 $ 3,000,000 8,003,900 6,770,000 Retained earnings $ 10,504,900 $ 9,770,000 Total stockholders' equity S 19,211,900 $ 17,670,000 Total liabilities and equity