The balance sheet at December 31, 2012, 2013, and 2014 and income statement for the years ended
Question:
The balance sheet at December 31, 2012, 2013, and 2014 and income statement for the years ended December 31, 2012, 2013, and 2014 for Ojibway Inc. include the following data:
Requirements
Use the years of data to answer the following:
1. Calculate the current ratio for 2012, 2013, and 2014.
2. Calculate the debt ratio for 2012, 2013, and 2014.
3. Evaluate each ratio and determine if the ratio has improved or deteriorated over the three years. Explain what the changes mean.
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Step by Step Answer:
Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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