Use the information in E5 14 for Carmichael Industries Instructions a Calculate the
Use the information in E5-14 for Carmichael Industries.
(a) Calculate the current and acid test ratios for 2013 and 2014.
(b) Calculate Carmichael's current cash debt coverage ratio for 2014.
(c) Based on the analyses in (a) and (b), comment on Carmichael's liquidity and financial flexibility.
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