High Liner Foods Incorporated processes and markets prepared frozen seafood throughout Canada, the United States, and Mexico under the High Liner and Fisher Boy brands. It also produces private label products, and supplies restaurants and institutions. Exhibit 6-11 contains financial statements that were included in the company’s 2013 annual report:
a. Calculate High Liner’s following ratios for both 2013 and 2012:
i. Current ratio
ii. Quick ratio
iii. Accounts receivable turnover (use the balance of accounts receivable at each year end for this calculation, rather than average balances)
iv. Average collection period
b. Comment on the results of the above ratio calculations and any significant trends they reveal.

  • CreatedJune 11, 2015
  • Files Included
Post your question