QUESTION $220$ MARKSPBA$4807$MAY$/$JUNE $2024$ EXAMINATION Trans$-$ action Current Ratio Debt Ratio Times$-$ Interest$-$Earned Ratio Return on Equity Book ValuePer Share Joomas Furniture company has requested that you determine whether the companys ability to pay its current liabilities and long$-$term debts improved or deteriorated during $2024.$ They provided you with the following information for Joomas for $2024$ and $2023.20242023$R$47000$ R$4000$ R$135000$ R$271000$ R$8000$ R$510000$ R$332000$ R$84000$ R$169000$ R$43000$ CashShor$-$term investments Net receivables InventoryPrepaid expenses Total assetsTotal current liabilities Longterm debtIncome from operations Interest expenseR$27000$R$33000$ R$120000$ R$238000$R$22000$ R$590000$ R$187000$R $147000$ R$191000$ R$410005$Requirements:Determine whether Joomas ability to pay current liabilities and long$-$term debt improved or deteriorated from $2023$ to $2024.$ To answer this question calculate the following ratios for $2024$ and $2023.($Round your answers to two decimal places$)$a$.$ Currentratiob. Acid$-$testratioc. Debt ratiod. Times$-$interest$-$earnedratioSummarise the results of your analysis in a written report.