Please do not give solution in image format thanku Exercise 24-04As loan analyst for Bramble Bank, you have been presented the following information.Toulouse Co. Lautrec Co.AssetsCashReceivablesInventoriesTotal current assetsOther assetsTotal assetsLiabilities and Stockholders' EquityCurrent liabilitiesCurrent ratioLong-term liabilitiesCapital stock and retained earningsTotal liabilities and stockholders' equity $1,411,000$918,000Acid-test ratioAccounts receivable turnover$116,000226,000564,000Inventory turnover906,000505,000$1,411,000Annual salesRate of gross profit on salesEach of these companies has requested a loan of $50,000 for 6 months with no collateral offered. Because your bank has reached its quota for loans of this type, only one of these requests is to be granted.Compute the various ratios for each company. (Round answer to 2 decimal places, e.g. 2.25.)Cash to current liabilities$291,000386,000734,00030%$332,000315,000541,0001,188,000595,000$1,783,000Toulouse Co.$361,000505,000917,000$1,783,000$1,556,000: 1: 1timestimes: 140 %Lautrec Co.1: 1timestimes1

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Exercise 24-04 As loan analyst for Bramble Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash Receivables Inventories Total current assets Other assets Total assets Liabilities and Stockholders' Equity. Current liabilities Long-term liabilities Capital stock and retained earnings Total liabilities and stockholders' equity Annual sales Rate of gross profit on sales Current ratio Acid-test ratio $116,000 226,000 564,000 Accounts receivable turnover Inventory turnover Cash to current liabilities. 906,000 505,000 $1,411,000 $291,000 386,000 734,000 $1,411,000 $918,000 30% $332,000 315,000 541,000 Each of these companies has requested a loan of $50,000 for 6 months with no collateral offered. Because your bank has reached its quota for loans of this type, only one of these requests is to be granted Compute the various ratios for each company. (Round answer to 2 decimal places, e.g. 2.25.) Lautrec Co. Toulouse Co. 1,188,000 595,000 $1,783,000 $361,000 505,000 917,000 $1,783,000 $1,556,000 :1 : 1 times times 40 % : 1 : 1 : 1 times times : 1