The comparative statement of financial position of Pina Colada inc. as at June 30,2023 , and a statement of comprehensive income for the 2023 fiscal year follow: Equipment \begin{tabular}{rr} 173,000 & 160,000 \\ \hline(35,000) & (24,300) \\ \hline$398,400 & $400,600 \\ \hline \end{tabular} Liabilities and Shareholders' Equity Accounts payable $112,000 $98,500 Income tax payable 1.500 3,800 Dividends payable 5,600 0 Long-term notes payable 85,000122,000 Commonshares 31,400 25,800 Retained earnings 152,500 141,500 Accumulated other comprehensive income Total 10,400 9,000 $398,400 $400,600 PINA COLADA INC. Statement of Comprehensive Income For the Year Ended June 30, 2023 Net sales $320,000 Cost of goods sold 157,000163,000 Gross profit 37,500119,500 Interest expense 9,00028,500 Income before income tax 5,60022,900 Income tax Netincome 22.900 Other comprehensive income 1. Pina Colada follows IFRS. Assume that interest is treated as an operating activity for purposes of the statement of cash flows: 2. Operating expenses include $9.200 in depreciation expense. 3. There were no disposals of equipment during the year. 4. Common shares were issued for cash. 5. During the year, Pina Colada acquired $9,000 of equipment in exchange for long term notes payable. 4. Common shares were issued for cash. 5. During the year, Pina Colada acquired $9,000 of equipment in exchange for long-term notes payable. The statement of cash flows for the year ended December 31,2023 follow5; Net Income / (Loss) $22,900 Adjustments to reconcile net income Net Cash Provided by Operating Activities Depreciation Expense Increase in Accounts Receivable Increase in Inventory Decrease in Prepaid Expenses Increase in Accounts Payable Decrease in income Taxes Payable Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Equipment $9,200 (10,900) (2,300) 3,600 13,500 (2,300) 33,70010,800 Net Crish used in Investing Activities (4,000) (4,000) Cash Flows from Investing Activities Purchase of Equipment Net Cash used in Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends Repayment of Notes Payable Issuance of Common Shares Net Cash used in Financing Activities Net Decrease in Cash Cash at Beginning of Year Cashat End of Year (4,000) (4,000) (6,300) (46,000) 5.600 (17,000)(46,700)$7,000$20,000 Calculate the current and acid-test ratios for 2022 and 2023 . (Round answers to 2 decimal places, eg. 52.75.)