Brief Exercise 13-10 Suppose these selected condensed data are taken from recent

Question

Brief Exercise 13-10

Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).

2017

2016

$13,700

$9,900

22,900

19,900

30,200

30,800

12,700

11,909

$79,500

$72,509

$275,000

$303,600

Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.)

2017

2016

2017

2016

Cash

$13,700

$9,900

Accounts receivable

22,900

19,900

Inventory

30,200

30,800

Other current assets

12,700

11,909

Total current assets

$79,500

$72,509

Total current liabilities

$275,000

$303,600

Explanation / Answer

Current ratio = Total current assets / Total current liabilities 2017 0.29 =79500/275000 2016 0.24 =72509/303600

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