Question: Financial information for Buckle is presented in Appendix B at the end of the book. Required: 1 - a . Calculate the current ratio for

Financial information for Buckle is presented in Appendix B at the end of the book.
Required:
1-a. Calculate the current ratio for the past two years.
1-b. Did the current ratio improve or weaken in the more recent year?
2-a. Calculate the acid-test (quick) ratio for the past two years.
2-b. Did the acid-test ratio improve or worsen in the more recent year?
3. If Buckle purchased $50 million of inventory by debiting Inventory and crediting Accounts Payable, how would its current ratio and acid-test ratio change?

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