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 Cash $13,200 $10,800 Accounts receivable 22,200 20,200 Inventory 31,600 30,700 Other current assets 12,200 11,909 Total current assets $79,200 $73,609 Total current liabilities $247,500 $311,100
Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.)
2017 2016 Current ratio:
:1
:1
Brief Exercise 13-10 Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). 2016 2017 13,200 $10,800 22,200 20,200 31,600 30,700 Cash Accounts receivable Inventory Other current assets12.2001.,909 Total current assets Total current liabilities,S011 $79,200 $73,609 -- Compute the current ratio for each year.(Round answers to 2 decimal places, e.g. 2.12.) 2017 2016 Current ratio: Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

Current ratio = current assets / current liabilities

2017 2016 Current assets $79,200 $73,609 Current liabilities $2,47,500 $3,11,100 Current ratio 0.32:1 0.24:1

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