Succeed'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.) Succeed's has 30,000 common shares outstanding during 2024. Read the requirements Requirement 1. Compute Succeed's Companies' current ratio at May 31, 2024 and 2023 Begin by selecting the formula to calculate Succeed'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, XXX) Current ratio - X 1 Requirements 1. Compute Succeed's Companies' current ratio at May 31, 2024 and 2023 2. Did Succeed's Companies' current ratio improve, deteriorate, or hold steady during 2024? Print Done X - i Income Statement Succeed's Companies Income Statement Years Ended May 31, 2024 and 2023 2024 2023 Net Sales Revenue $ 57,200 $ 38,800 20,600 Cost of Goods Sold 21,400 300 140 Interest Expense 6,900 7,800 All Other Expenses $ 29,400 $ 9,460 Net Income yard Print Done uy Selecurg ule tuttuid to calculate succesus companies et laud. He te ulet dous and Caicuidie uit - 0 Balance Sheets May 31, 2024 and 2023 Assets Liabilities 2024 2023 2024 2023 Cash $ 2,000 $ 1,600 Total Current Liabilities 24,000 $ 13,100 Short-term Investments 13,800 11,700 29.000 10,000 Long-term Liabilities Accounts Receivable 7,400 5,500 Total Liabilities 37,800 24,800 Merchandise Inventory 7,100 9,700 Stockholders' Equity Other Current Assets 10,000 1,700 Common Stock 13,000 13,000 Total Current Assets 39,700 18,700 55,500 28,500 Retained Eamings All Other Assets 52,700 28.000 Total Equity 31,700 35,000 90,500 $ 56,500 90,500 $ 56,500 Total Assets Total Liabilities and Equity Print Done