X i Balance Sheets Achieve's Companies Balance Sheet May 31, 2024 and 2023 Assets 2024 Liabilities 2024 2023 2023 Cash 2,500 $ 13,300 9,800 26,000 7,600 23,100 Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets All Other Assets 7,000 10,000 1,700 Total Current Liabilities 24,000 $ 12,300 13,000 Long-term Liabilities 5,300 Total Liabilities 36,300 9,700 Stockholders' Equity 2,100 Common Stock 12,000 31,800 Retained Earnings 36,800 48,800 12,000 23,700 53,100 32,000 27,000 Total Equity 35,700 Total Assets 85,100 $ 58,800 Total Liabilities and Equity 85,100 $ 58,800 Print Done 1 Income Statement Achieve's Companies Income Statement Years Ended May 31, 2024 and 2023 2024 2023 38,800 25,500 Net Sales Revenue Cost of Goods Sold Interest Expense All Other Expenses Net Income 41,000 $ 20,600 200 6,700 140 7,800 13,500 $ 5,360 Print Done i Requirements X 1. Compute Achieve's Companies' current ratio at May 31, 2024 and 2023. 2. Did Achieve's Companies' current ratio improve, deteriorate, or hold steady during 2024? Print Done This Question: 1 pt 4 of 5 (1 complete) This Test: 5 pts possible Achieve'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.) Achieve's has 50,000 common shares outstanding during 2024. Read the requirements. Requirement 1. Compute Achieve's Companies' current ratio at May 31, 2024 and 2023. Begin by selecting the formula to calculate Achieve'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 2024 2023 Requirement 2. Did Achieve's Companies' current ratio improve, deteriorate, or hold steady during 2024? Achieve's Companies' current ratio