Calculate and analyze liquidity measures. Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at August 31, 2014 and 2013 (in millions):

Required:
a. Calculate the working capital and current ratio at each balance sheet date. Round your current ratio answers to two decimal places.
b. Describe the change in the firm’s liquidity from 2013 to2014.

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August 31, 2014 August 31, 2013 Current Assets Cash Marketable securities. Accounts receivable Inventories. S 18 42 78 108 $246 S 36 60 48 48 Total current assets. Current Liabilities Accounts payable Other accrued liabilities S 18 60 54 $ 48 84 42 .*. Total current liabilities .$132