Large Land Photo Shop has asked you to determine whether the company's ability to pay current liabilities and total liabilities improved or deteriorated during 2024. To answer this question, you gather the following data: (Click the icon to view the data.) Read the requirements. Cash ratio =( Cash + Cash equivalents ) Total current liabilities Now, compute the cash ratios for 2024 and 2023 . (Round your answers to two decimal places, XXX) c. Compute the acid-test ratios for 2024 and 2023. Begin by selecting the formula to compute the acid-test ratio. Acid-test ratio =( Cash + Short-term investments + Net current receivables ) Total current liabilities Now, compute the acid-test ratios for 2024 and 2023 . (Round your answers to two decimal places, X XX) \begin{tabular}{lrr} \hline & \multicolumn{1}{c}{2024} & 2023 \\ \hline Cash & $60,000 & $52,000 \\ Short-term Investmynts & 26,000 & 0 \\ Net Accounts Receivables & 146,000 & 128,000 \\ Merchandise Inventory & 257,000 & 267,000 \\ Total Assets & 555,000 & 520,000 \\ Total Current Liabilities & 305,000 & 182,000 \\ Long-term Notes Payable & 42,000 & 64,000 \\ Income from Operations & 150,000 & 188,000 \\ Interest Expense & 54,000 & 43,000 \\ \hline \end{tabular} Requirements Compute the following ratios for 2024 and 2023, and evaluate the company's ability to pay its current liabilities and total liabilities: a. Current ratio d. Debt ratio b. Cash ratio e. Debt to equity ratio c. Acid-test ratio