Exercise o$-$Iy $($AIgo$)$ rart

$7.$ Analyze the following for ACME Fireworks

Requirement $1$:

a$-1.$ Calculate the current ratio at the end of January.

a$-2.$ If the average current ratio for the industry is $1\mathrm{.}80,$ is ACME Fireworks more or less liquid than the industry average? Requirement $2$:

b$-1.$ Calculate the acid$-$test ratio at the end of January.

b$-2.$ If the average acid$-$test ratio for the industry is $1\mathrm{.}50,$ is ACME Fireworks more or less likely to have difficulty paying its currently maturing debts $($compared to the industry average$)?$

Requirement $3$:

c$-1.$ Assume the notes payable were due on April $1,2024,$ rather than April $1,2025.$ Calculate the revised current ratio at the end of January.

c$-2.$ Indicate whether the revised ratio would increase, decrease, or remain unchanged.

Complete this question by entering your answers in the tabs below.

$$ Req A$2$

Req B$1$

Req B$2$

Req C $1$

Req C$2$

Calculate the current ratio at the end of January.

$\backslash$table$[[$Current Ratio$],[$Choose Numerator,$,$Choose Denominator,$=,$Current Ratio$],[,,,=,$Current Ratio$],[,,,=,]]$