Question: answer this question Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019
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Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019 (in millions): January January 31, 2020 31, 2019 Current Assets Cash $12 $ 9 Accounts receivable 5 8 Inventories 6 10 Total current assets $23 $27 Current Liabilities Note payable $ 5 $ 5 Accounts payable 5 2 Other accrued liabilities 3 3 Total current liabilities $13 $10 Required: a. Calculate the working capital and current ratio at each balance sheet date. (Enter "Working capital" in millions of dollars (i.e., 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places.) Current ratio
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