Required: Using the M2. Compute the Current Ratio and Quick (Acid Test) Ratio, what does that tell you about the John Cully Company? Current Ratio = Current Assets/Current Liabilities 2022 - 2,302.6/1,497.7 = 1.5374 2021 - 2,199.2/1,322.0 = 1.6635 Acid-test ratio= Quick Assets (Current Assets-inventory)/Current Liabilities 2022 - (2302.6-768.3)/1497.7 = 1.0244 2021 - (2,199.2-653.5)/1,322.0 = 1.1692aterials Learned in this Module (Including the Ratio Summary Page & Presentation Lecture PPT), complete the following: 1. Compute the Gross Profit Margin Ratio/Rate and the Overall Profit Margin. Explain what it tells you about the John Cully Company. Gross Profit Margin= Sales-COGS/Sales Year 2022 - 6,336.3-1,617.4/6,336.3 = 0.74 Year 2021 - 5,790.4-1,476.3/5,790.4 = 0.75 Overall Profit Margin = Net Income/Sales Year 2022 - 406.1/6,336.3 = 0.06 Year 2021 - 375.4/5,790.4 = 0.07 This indicates a slight decrease in the Gross Profit Margin from 2021 to 2022, suggesting a small reduction in profitability relative to sales. It might indicate increased costs or reduced pricing power. 2. Compute the Current Ratio and Quick (Acid Test) Ratio, what does that tell you about the John Cully Company? 3. Prepare a Horizontal Analysis of the John Cully Company's Income Statement and provide any insights as to the direction