Homework: Homework 15-2 Question 10, SF15-8 (similar to) Part 1 of 5 HW Score: 21.83%, 7.64 of 35 points Points: 0 of 2 O Save Excel's Companies, a home improvement store chain, reported the following summarized figures: Click the icon to view the income statement.) Click the icon to view the balance sheets.) Excel's has 50,000 common shares outstanding during 2024. Read the requirements - X Balance sheets Requirement 1. Compute the debt ratio and the debt to equity ratio at May 31, 2024, for Excel's Companies. Begin by selecting the formula to calculate Excel's Companies' debt ratio. Then enter the amounts and calculate the debt ratio for 2024. (Round the ratio to one tenth of a percent, X Debt ratio Excel's Companies Balance Sheet May 31, 2024 and 2023 Assets 2024 Liabilities 2024 2023 2023 Cash $ 2,200 $ 13,300 10,700 29,000 - X Short-term Investments Accounts Receivable Requirements 7,300 24,000 ncome statement Merchandise Inventory 7,100 6,000 1,200 Total Current Liabilities $ 24,000 $ 13,600 11,000 Long-term Liabilities 5,400 Total Liabilities 37,600 8,200 Stockholders' Equity 12,000 27,900 Retained Earnings 33,000 45,000 Other Current Assets 2,100 Common Stock 1. Compute the debt ratio and the debt to equity ratio at May 31, 2024, for Excel's Companies. 2. Is Excel's ability to pay its liabilities strong or weak? Explain your reasoning. 12,000 19,900 Excel's Companies Total Current Assets Income Statement 51,600 31,000 28,000 Total Equity All Other Assets 31.900 Years Ended May 31, 2024 and 2023 2024 $ 82,600 $ 55,900 $ 82,600 $ 55,900 2023 Total Assets Total Liabilities and Equity Print Done $ 40,900 $ 38.800 21,200 21,400 Net Sales Revenue Cost of Goods Sold Interest Expense All Other Expenses 140 Print Done 500 6.700 8,400 $ 12,500 $ 8,860 Net Income Print Done