AN Gildan Activewear Inc. is a leading manufacturer and marketer of family apparel, including T-shirts, fleece, sport shirts, socks, and shapewear. Its brands include American Apparel and Gold Toe. The following data (in thousands of U.S. dollars) were taken from Gildan’s financial statements:

Instructions
a. Calculate the working capital, current ratio, and acid-test ratio for each year.
b. Discuss Gildan’s liquidity on December 29, 2019, compared with the two previous years.

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Cash and cash equivalents Trade accounts receivable Income taxes receivable Inventories Prepaid expenses, deposits, and other current assets Current assets Current liabilities December 29, 2019 $ 64,126 320,931 1,052,052 77,064 1,514,173 422,404 December 30, 2018 $ 46,657 317,159 1,689 940,029 77,377 1,382,911 346,985 December 31, 2017 $ 52,795 243,365 3,891 945,738 62,092 1,307,881 258,476