Ocean Front Rentals reported the following selected amounts in its post-closing trial balance as of December 31, 2023 and December 31, 2024. All accounts have normal balances. (Click the icon to view the balances.) Requirements 1. Calculate the cash ratio for the two years. Round to two decimal places. 2. Did the company's position improve or weaken? Explain your answer. Requirement 1. Calculate the cash ratio for the two years. Round to two decimal places. Determine the formula, then calculate the cash ratio for 2024 and 2023. (Enter the cash ratio to two decimal places, X.XX.) 2023 ( 2024 ( Cash ratio i Data Table Cash Cash Equivalents Accounts Receivable Office Supplies Merchandise Inventory Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Utilities Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Print Done $ 2024 6,600 $ 2,000 700 150 8,650 950 22,000 4,600 800 210 900 1,200 26,900 6,440 2023 - 5,400 1,200 1,100 255 9,700 900 22,000 4,000 1,000 260 800 900 26,900 6,695 X Deter ( 2023 ( 2024 ( Average Common Stock Cash Cash Equivalents Retained Earnings, + + Total Assets Total Current Assets Total Current Liabilities Total Equity Choose from any list or enter any number in the input fields and the Requirements 1. Calculate the cash ratio for the two years. Round to two decimal places. 2. Did the company's position improve or weaken? Explain your answer.