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

$13,100

$10,800

23,800

20,200

30,200

30,800

11,500

11,909

$78,600

$73,709

$228,500

$299,600

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

2017

2016

2017

2016

Cash

$13,100

$10,800

Accounts receivable

23,800

20,200

Inventory

30,200

30,800

Other current assets

11,500

11,909

Total current assets

$78,600

$73,709

Total current liabilities

$228,500

$299,600

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars                   2,017.00                   2,016.00 Cash                13,100.00                10,800.00 Accounts receivable                23,800.00                20,200.00 Inventory                30,200.00                30,800.00 Other Current Assets                11,500.00                11,909.00 Total current assets                78,600.00                73,709.00 Total current Liabilities              228,500.00              299,600.00 Current ratio = Current Assets/Current Liabilities 2017 = 78,600/228,500 2016 = 73,709/299,600                           0.34                           0.25

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