ment CALCULATOR Brief Exercise 1310 Suppose these selected c

ment CALCULATOR Brief Exercise 13-10 Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands) 2017 2016 Cash Accounts receivable Inventory 13,900 $10,100 23,500 20,200 30,300 30,600 other curent asts12,600 11.909 Total current assets $80.300 $72.809 Total current liabilities $262,500 $321,100 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: Qpen Shn Work Question Attempts: 0 of 3 used Rights Reserved. A Dson re to search 8 5 6 8 FGHKL

Solution

Current Ratio = Current Assets / Current Liabilities

2017:

Current Ratio = $80,300 / $262,500
Current Ratio = 0.31

2016:

Current Ratio = $72,809 / $321,100
Current Ratio = 0.23