Question: Selected financial information is available at July 31 for Drew Co. ________________________________2014 2013 Cash and accounts receivable...........$22,680...............$20,430 Current assets..............................35,100..................33,510 Current liabilities...........................24,460..................24,800 (a) Calculate (1) Working

Selected financial information is available at July 31 for Drew Co.
________________________________2014 2013
Cash and accounts receivable...........$22,680...............$20,430
Current assets..............................35,100..................33,510
Current liabilities...........................24,460..................24,800
(a) Calculate
(1) Working capital,
(2) The current ratio, and
(3) The acid-test ratio for 2013 and 2014.
(b) Indicate whether there was an improvement or deterioration in liquidity for Drew in 2014.

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