Large Limb 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. a. Compute the current ratios for 2024 and 2023, Begin by selecting the formula to compute the current ratio. Current ratio Total current assets Total current liabilities Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, XXX) 2024 2023 Current ratio 1.7 2.04 b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Cash ratio : =(Cash + Cash equivalents) Total current liabilities Now, compute the cash ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX) Enter any number in the edit fields and then click Check Answer. ( 2 Large Limb 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 ration for 2024 and 2023. (Round your answers to two decimal places, XXX) 2024 2023 Cash ratio 0.19 0.25 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.) 2024 2023 Acide-test ratio Enter any number in the edit fields and then click Check Answer (0/6) Incorre (10.17/61) 1 Data Table - X 2024 2023 Cash $ 54,000 $ 53,000 Short-term Investments 30,000 0 Net Accounts Receivables 134,000 112,000 Merchandise Inventory 267,000 267,000 Total Assets 495,000 520,000 Total Current Liabilities 285,000 212,000 Long-term Notes Payable 38,000 54,000 Income from Operations 185,000 188,000 Interest Expense 44,000 39,000 Print Done 1 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 b. Cash ratio c. Acid-test ratio d. Debt ratio e. Debt to equity ratio Print Done X