Question 5, SF15-6 (simi... Part 1 of 4 > HW Score: 12.5%, 1 of 8 points O Points: 0 of 1 Save Triumph's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Triumph's has 30,000 common shares outstanding during 2024. Read the requirements. Requirement 1. Compute Triumph's Companies' current ratio at May 31, 2024 and 2023. Begin by selecting the formula to calculate Triumph's Companies' current ratio. Then enter the amounts and calculate the current ratio for 2024 and then 2023. (Round your answers to two decimal places, X.XX.) Current ratio Income Stat ec fo Triumph's Companies Income Statement Icula Years Ended May 31, 2024 and 2023 2024 2023 Net Sales Revenue $ 49,200 $ 38,800 Cost of Goods Sold 20,600 21,400 Interest Expense 460 700 6,900 All Other Expenses 7,800 $ Net Income 21,000 $ 9,140 Triumph's Companies Balance Sheet May 31, 2024 and 2023 Assets Liabilities 2024 2023 2024 2023 2,300 $ Total Current 1,300 Liabilities 21,000 $ 13,300 12,800 11,700 25,000 14,000 Long-term Liabilities 7,600 5,400 Total Liabilities 33,800 25,000 Cash $ Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets 7,200 6,300 Stockholders' Equity 11,000 1,700 Common Stock 12,000 12,000 53.100 28.700 Retained Earnings 38,300 19,700 mer - se atid Requirements 1. Compute Triumph's Companies' current ratio at May 31, 2024 and 2023. 2. Did Triumph's Companies' current ratio improve, deteriorate, or hold steady during 20242 Print Done