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Comparative financial statement data of Manfield, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) (Click the icon to view the additional financial information.) Read the requirements. Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio = Average merchandise inventory Net sales revenue (Cash + Cash equivalents) Total current liabilities ( Cash + Accounts receivable, net ) Total current liabilities Cost of goods sold Average merchandise inventory Gross profit Net sales revenue Market price per share of common stock Earnings per share (Net Income + Income tax expense + Interest expense ) Interest expense (Net income - Preferred dividends) Average common stockholder's equity (Net income - Preferred dividends) Weighted average number of common shares outstanding Total current assets Total current liabilities Total equity Total liabilities Total liabilities Total equity Requirements 1. Compute the following ratios for 2024 and 2023 : a. Current ratio b. Cash ratio c. Times-interest-earned ratio d. Inventory turnover e. Gross profit percentage f. Debt to equity ratio g. Rate of return on common stockholders' equity h. Earnings per share of common stock i. Price/earnings ratio 2. Decide (a) whether Manfield's ability to pay debts and to sell inventory improved or deteriorated during 2024 and (b) whether the investment attractiveness of its common stock appears to have increased or decreased. Income Statement Manfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Additional Financial Information 1. Market price of Manfield's common stock: $67.50 at December 31, 2024, and $34.68 at December 31, 2023. 2. Common shares outstanding: 15,000 on December 31, 2024 and 14,000 on December 31, 2023 and 2022. 3. All sales are on credit