Score: 0 of 10 pts 5 of 9 (1 complete) HW Score: 11 11%, 10 of 90 pts SF17-6 (similar to) Assigned Media Question Help High'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.) High's has 40,000 common shares outstanding during 2024 Read the requirements Requirement 1. Compute High's Companies' current ratio at May 31, 2024 and 2023 Begin by selecting the formula to calculate High'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 Choose from any drop-down list and then click Check Answer Check Answer Clear All 3 parts remaining P. i Income Statement High's Companies Income Statement Years Ended May 31, 2024 and 2023 2024 2023 Net Sales Revenue $ $ 55,400 $ 42,900 Cost of Goods Sold 27,700 29,300 Interest Expense 400 280 6,900 7,800 All Other Expenses $ $ 20,400 $ 5,520 Net Income Print Done Balance Sheets Assets Liabilities 2024 2023 2024 2023 Cash $ 2,200 $ 13,300 12,700 Short-term Investments 24,000 26,000 Accounts Receivable 7.300 1.800 Total Current Liabilities $ 29,000 $ 13,500 13,000 Long-term Liabilities 5,500 Total Liabilities 42,500 5,900 Stockholders' Equity 1,700 Common Stock 9,000 28,100 27,900 Retained Earnings 37.100 Merchandise Inventory 7,100 6,000 Other Current Assets 9,000 17.900 Total Current Assets 46,600 26,900 33,000 25,000 Total Equity All Other Assets $ 79,600 $ 52,900 $ 79,600 $ 52,900 Total Liabilities and Equity Total Assets Print Done X i Requirements 1. Compute High's Companies' current ratio at May 31, 2024 and 2023. 2. Did High's Companies' current ratio improve, deteriorate, or hold steady during 2024? Print Done