Question: Current Position Analysis The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 2019 and
Current Position Analysis The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 2019 and December 31, 2048: Dec. 31. Dec. 31, 2019 2018 Cash $360,100 $272,400 Temporary investments 384,300 298,400 Accounts and notes receivable (net) 353,600 325,200 Inventores 494,100 403,200 Prepaid expenses 359,900 156,800 Total current assets $1,952,000 $1,456,000 Accounts payable $353,800 $392,000 168,000 Accrued liabilities 256,200 Total current liabilities $610.000 $560,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (a) the quick ratio. Round ratios to one decimal place. 2019 2018 Working capital Current ratio Quick ratio from 2048 to the 2049. The working capital, current ratio, and quick ratio have a b. The liquidity of Icon Living, Inc., has Most of these changes are the result of
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