Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at

Question:

Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at August 31, 2011 and 2010 (in millions):


Following are the current asset and current liability sections of the


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 2010 to2011.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Accounting What the Numbers Mean

ISBN: 978-0073527062

9th Edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

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