You are the accountant at Danier. Refer to Appendix III for Danier’s Consolidated Balance Sheets as at June 28, 2014. Your manager has asked you to do the following:
a. Calculate the current ratio, quick ratio, and debt to equity ratios for 2013 and 2014 (round to two decimal places).
b. Comment on the ratios, the change between 2013 and 2014 and what additional information you would want to know to get a better picture of Danier’s financial performance.