Using the Columbia Sportswear balance sheet in Exhibit, compute Columbias working capital, current ratio, and quick ratio

Using the Columbia Sportswear balance sheet in Exhibit, compute Columbia’s working capital, current ratio, and quick ratio for 2010. Compute the quick ratio as (current assets – inventories) ÷ currentliabilities.

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December 31 2010 2009 Assets Current assets $ 234,257 $ 386,664 68,812 22,759 300,181 226,548 314,298 222,161 45,091 31,550 32,030 990,880 921,712 221,813 235,440 40,423 27,127 14,470 12,659 15,945 $1,294,754 $1,212,883 Cash and cash equivalents Shortterm investments Accounts receivable, net Inventories, net Deferred income taxes Prepaid expenses and other current assets 28,241 Total current assets Property, plant, and equipment, net Intangible assets, net Goodwill Other noncurrent assets 27,168 Total assets Liabilities and Shareholders' Equity Current liabilities $ 130,626 102,494 67,312 6,884 2,597 251,626 179,287 19,830 1,494 15,044 292,780 215,655 Accounts payable Accrued liabilities Income taxes payable Deferred income taxes 102,810 16,037 2,153 Total cuent liabilities Income taxes payable Deferred income taxes Other longterm liabilities 19,698 21,456 Total liabilities Shareholders' equity: Preferred stock; 10,000 shares authorized; none issued and outstanding Common stock; (no par value) 125,000 shares authorized; 33,683 and 33,736 issued and outstanding Retained earnings Accumulated other comprehensive income 5,052 836 950,207 952,948 43,444 1,001,974 997,228 $1,294.754 $1,212,883 46,715 Total shareholders' equity Total liabilities and shareholders' equity