Listed in the following schedule are the current assets and current liabilities of the Laoretti Company for the firm€™s fiscal years ending December 31, 2008 and 2009.

Required:
(a) Determine this company€™s working capital and current ratio as of December 31, 2008 and 2009.
(b) Did the company€™s liquidity improve or weaken between the end of 2008 and the end of 2009? Explain.

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December 31 2008 2009 Cash and Cash Equivalents S 54,817 S 48,90:2 Accounts Receivable Inventories Other Current Assets Total Current Assets 63,295 59,748 116,528 121,277 18,60515,691 $253,245 $245,618 Accounts Payable Accrued Payroll Liabilities Income Taxes Payable Total Current Liabilities s 71,430 S 73,819 28,456 12,089 11,572 $113,847 26,608 $110,127