Brief Exercise 1310 Suppose these selected condensed data ar

Brief Exercise 13-10 Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands) 2017 2016 Cash $13,400 $10,900 20,300 30,700 11,909 $81,400 $73,809 Total current liabilities $277,000 $336,600 22,800 31,900 13,300 Accounts receivable Inventory Other current assets Total current assets Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.) 2017 2016 Current ratio:

Solution

Answer =1 Current Ratio = Current Assets / Current Liabilities 2017 2016 Current Ratio = Current Assets = $81,400 $73,809 Divide By \"/\"By \"/\"By Current Liabilities = $2,77,000 $3,36,600 Current Ratio =                              0.29                                       0.22 Current Ratio =                              0.29                                       0.22 Answer = Current Ratio = 0.29 : 1 0.22 : 1