Holysh Inc. reported a current ratio of 1.5:1 in the current year, which is higher than last

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Holysh Inc. reported a current ratio of 1.5:1 in the current year, which is higher than last year's current ratio of 1.3:1. It also reported an acid-test ratio of 1:1, which is higher than last year's acid-test ratio of 0.6:1; receivables turnover of 8 times, which is less than last year's receivables turnover of 9 times; and an inventory turnover of 6 times, which is less than last year's inventory turnover of 7 times. Is Holysh's liquidity improving or deteriorating? Explain.
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Accounting Principles Part 3

ISBN: 978-1118306802

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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