Sunset Walk Rentals reported the following selected amounts in its post-closing trial balance as of December 31, 2023 and December 31, 2024. All accounts have normal balances (Click the icon to view the balances.) Requirements 1. Calculate the cash ratio for the two years. Round to two decimal places. 2. Did the company's position improve or weaken? Explain your answer. Requirement 1. Calculate the cash ratio for the two years. Round to two decimal places. Determine the formula, then calculate the cash ratio for 2024 and 2023. (Enter the cash ratio to two decimal places, XXX.) 2023 ( 2024 ( )+ )+ )+ Cash ratio Data table 2024 2023 Cash Cash Equivalents Accounts Receivable $ 7,100 $ 5,100 2,200 1,400 1,300 1,600 Office Supplies 15d 300 Merchandise Inventory 8,900 8,800 Prepaid Insurance 800 750 Equipment 24,000 24,000 Accumulated Depreciation-Equipment 2,700 2,000 Accounts Payable 700 1,000 Utilities Payable 280 330 Data table Office Supplies 150 300 Merchandise Inventory 8,900 8,800 Prepaid Insurance 800 750 Equipment 24,000 24,000 Accumulated Depreciation-Equipment 2,700 2,000 Accounts Payable 700 1,000 Utilities Payable 280 330 Salaries Payable 1,900 1,600 Unearned Revenue 1,075 900 Common Stock 26,900 26,900 Retained Earnings 10,895 9,220 - X