Suppose these selected condensed data are taken from recent balance sheets of Bo

Question

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

2017

2016

$13,600

$9,100

24,000

20,500

31,700

30,800

12,700

11,909

$82,000

$72,309

$246,000

$315,600

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

2017

2016

2017

2016

Cash

$13,600

$9,100

Accounts receivable

24,000

20,500

Inventory

31,700

30,800

Other current assets

12,700

11,909

Total current assets

$82,000

$72,309

Total current liabilities

$246,000

$315,600

Explanation / Answer

for 2017 current ratio = 0.33:1

For 2016 current ratio = 0.23:1

2017 2016 a Current assets 82000 72309 b Current liabilities 246000 315600 c=a/b Current ratio 0.33 0.23

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