Question: Le Gasse Inc. reported this information at December 31: Requirements 1. Using this information, calculate the current ratio and the debt ratio for 2014, 2013,

Le Gasse Inc. reported this information at December 31:

Requirements
1. Using this information, calculate the current ratio and the debt ratio for 2014, 2013, and 2012.
2. Explain whether each ratio improved or deteriorated over the three years. In each case, what does your answer indicate?

2014 $ 20 50 2013 $ 15 57 2012 3 Current assets Total assets Current liabilities Total liabilities Sales revenue Net income 35 190 175 25 204

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