Requirement 1a. Compute the current ratios for 2024 and 2023. Begin by selecting the formula to compute the current ratio. Current ratio = : Now, compute the current ratios for 2024 and 2023. (Round your answers to two decimal places, XXX.) Current ratio 2024 2023 Requirement 1b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Requirement 2. Decide (a) whether Caneld'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. (a) Did Caneld's ability to pay its debts and to sell inventory improve or deteriorate during 2024? V (b) Did the investment attractiveness of Caneld's common stock appear to have increased or decreased? V Income Statement Canfield, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue $ 458,000 $ 425,000 Cost of Goods Sold 234,000 216,000 Gross Profit 224,000 209,000 Operating Expenses 134,000 132,000 Income From Operations 90,000 77,000 13 0on 14 0onNet Sales Revenue $ 458,000 $ 425,000 Cost of Goods Sold w m Gross Profit 224,000 209,000 Operating Expenses 134'000 132'000 Income From Operations 90,000 77,000 Interest Expense w w Income Before Income Tax 77,000 63,000 Income Tax Expense 24'000 Net Income $ 53,000$ 37,000 Balance Sheet 2024 2023 2022* Assets Current Assets: Cash $ 93,000 $ 92,000 Accounts Receivables, Net 112,000 116,000 $ 106,000 Merchandise Inventory 143,000 158,000 203,000 Prepaid Expenses Balance Sheet Total Current Assets Property, Plant, and Equipment, Net Total Assets Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities 578,000 $ 550,000 119,000 364,000 214,000 226,000 $ 345,000 374,000 176,000 247,000 100,000 347,000 $595,000 Balance Sheet Total Current Liabilities $ 226,000 $ 247,000 Long-term Liabilities 119,000 100,000 Total Liabilities 345,000 347,000 Stockholders' Equity Preferred Stock, 4% 100,000 100,000 Common Stockholders' Equity, no par 133,000 103,000 88,000 550,000 Total Liabilities and Stockholders' Equity 578,000 * Selected 2022 amountsX Additional Financial Information 1. Market price of Canfield's common stock: $63.00 at December 31, 2024, and $43.18 at December 31, 2023. 2. Common shares outstanding: 15,000 on December 31, 2024 and 13,000 on December 31, 2023 and 2022. 3. All sales are on credit.Requirements 1. Compute the following ratios for 2024 and 2023: Current ratio Cash ratio Times-interest-earned ratio . Inventory turnover Gross prot percentage Debt to equity ratio Rate of return on common stockholders' equity . Earnings per share of common stock . Pricelearnings ratio 2. D cide (a) whether Caneld'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. "=19 7"? 9-9 53'? Requirement 1b. Compute the cash ratios for 2024 and 2023. Begin by selecting the formula to compute the cash ratio. Cash ratio = Now, compute the cash ratios for 2024 and 2023. (Round your answers to two decimal places, XXX.) Cash ratio 2024 2023 Requirement 1c. Compute the times-interest-earned ratios for 2024 and 2023. Begin by selecting the formula to compute the times-interest-earned ratio. Times-interest-earned ratio Now, compute the times-interest-earned ratios for 2024 and 2023. (Round your answers to two decimal places, X.XX.) Times-interest-earned ratio 2024 2023Requirement 1d. Compute the inventory turnover ratios for 2024 and 2023. Begin by selecting the formula to compute the inventory turnover ratio. Inventory turnover ratio = Now, compute the inventory turnover ratios for 2024 and 2023. (Round your answers to two decimal places, XXX.) Inventory turnover ratio 2024 2023 Requirement 1e. Compute the gross prot percentage for 2024 and 2023. Begin by selecting the formula to compute the gross prot percentage. Gross prot percentage = Now, compute the gross prot percentage for 2024 and 2023. (Round your answers to one tenth of a percent, X.X. Do not enter the %. For example, enter 10.2% as 10.2.) Gross profit % 2024 % 2023 % Requirement 1f. Compute the debt to equity ratios for 2024 and 2023. Begin by selecting the formula to compute the debt to equity ratio. Debt to equity ratio = Now, compute the debt to equity ratios for 2024 and 2023. (Round your answers to two decimal places, XXX.) Debt to equity ratio 2024 2023 Requirement 1g. Compute the rate of return on common stockholders' equity for 2024 and 2023. Begin by selecting the formula to compute the rate of return on common stockholders' equity. Rate of return on common stockholders' equity = Now, compute the rate of return on common stockholders' equity for 2024 and 2023. (Round your answers to one tenth of a percent, XX. Do not enter the %. For example, enter 10.2% as 10.2.) Rate of return on common stockholders' equity % 2024 % 2023 % Requirement 1h. Compute the earnings per share of common stock for 2024 and 2023. Begin by selecting the formula to compute the earnings per share of common stock. Earnings per share = Now, compute the earnings per share for 2024 and 2023. (Round your answers to the nearest cent, $X.XX.) Earnings per share of common stock 2024 2023 Requirement 1i. Compute the price/earnings ratio for 2024 and 2023. Begin by selecting the formula to compute the price/earnings ratio. Price/earnings ratio Now, compute the price/earnings ratio for 2024 and 2023. (Round your interim calculations and final answers to two decimal places, X.XX.) Price/earnings ratio 2024 2023