Select the formula reference in the last column of the table and compute the current ratio for each year. (Round the ratio to two decimal places, XXX) (Click the icon to view the formulas.) 2024 2023 2022 2021 2020 Formula Current ratio WRN Athletic Supply, Inc. Five-Year Financial Summary (Partial; adapted) (Dollar amounts in thousands except per share data) Net Sales Revenue Net Sales Revenue Increase Domestic Comparative Store Sales Increase Other Income-Net Cost of Goods Sold Selling and Administrative Expenses Interest: Interest Expense 2024 2023 2022 2021 2020 $ 245,000 $ 213,000 $ 192,000 $ 165,000 $ 136,000 15% 11% 16% 21% 17% 5% 7% 4% 8% 9% 2,030 1,870 1,710 1,640 1,380 185,220 162,519 148,608 129,030 107,712 41,290 36,390 31,610 27,430 22,570 (1,010) (1,390) (1,360) (1,070) (810) Interest Income 120 185 180 185 170 Income Tax Expense 4,410 3,860 3,610 3,360 2,720 Net Income 15,220 10,896 8,702 5,935 3,738 Per Share of Common Stock: Net Income Dividends 1.30 1.00 0.90 0.70 0.48 0.40 0.38 0.34 0.30 0.26 2019 Current Assets, Excluding Merchandise Inventory $ 30,300 $ 27,300 $ 27,100 $ 25,000 $ 21,000 Merchandise Inventory 25,100 23,000 22,100 19,700 18,100 $ 17,100 Property, Plant, and Equipment, Net 51,100 45,700 41,100 35,200 25,400 Total Assets Current Liabilities Long-term Debt Stockholders' Equity 106,500 96,000 90,300 79,900 64,500 32,200 27,800 28,800 25,900 16,600 22,200 20,900 17,400 18,100 13,100 52,100 47,300 44,100 35,900 34,800 Financial Ratios Acid-Test Ratio. 0.9 1.0 0.9 1.0 1.3 Rate of Return on Total Assets 16.0% 13.2% 11.8% 9.7% 8.7% Rate of Return on Stockholders' Equity 30.6% 23.8% 21.8% 16.8% 16.3% Formulas Ref. Formula (a.) 365 days + Inventory turnover (b.) Annual dividend per share + Earnings per share (c.) Annual dividend per share + Market price per share (d.) (Cash including cash equivalents + Short-term investments + Net current receivables) + Total current liabilities (e.) Cost of goods sold + Average merchandise inventory (f.) Current assets - Current liabilities (g.) Gross profit + Net sales revenue (h.) Market price per share of common stock + Earnings per share (i.) Net credit sales + Average net accounts receivables (-) (Net income + Income tax expense + Interest expense) + Interest expense (k.) Net income + Net sales (1.) (Net income + Interest expense) + Average total assets (m.) (Net income - Preferred dividends) + Average common stockholders equity (n.) (Net income - Preferred dividends) + Weighted average-number of common shares outstanding (o.) Total current assets + Total current liabilities (p.) Total liabilities + Total assets