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Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). 2022 2021 Cash $13,700 $9,900 Accounts receivable 22,900 19,900 Inventory 30,200 30,800 Other current assets 12,700 11,909 Total current assets $79,500 $72,509 Total current liabilities $275,000 $303,600 Compute the current ratio for each year.

Respuesta :

Answer:

The current ratios for 2022 and 2021 are 0.29 and 0.24 respectively.

Explanation:

Given the following information about Bob Evans farms

                                    2022 (

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000)   2021 (

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000)  

Cash                                  13,700.00   9,900.00  

Accounts receivable          22,900.00   19,900.00  

Inventory                           30,200.00   30,800.00  

Other current assets            12,700.00   11,909.00  

 

Total current assets            79,500.00   72,509.00  

 

Total current liabilities          275,000.00   303,600.00  

 

Current ratio                     (79500/275000)   (72509/303,600)

                                                      0.29                 0.24

Current ratio = current assets/current liabilities

The current ratios for 2022 and 2021 are 0.29 and 0.24 respectively.

ahmedgodtrust

Answer:

                                                         2022            2021

Current ratio = Current assets      $79,500      $72,509

                         Current liabilities   $275000   $303600

                                                           0.29:1           0.24:1

Explanation:

Current ratio is the relationship between current assets and current liabilities. It is a short-term liquidity ratio. The division of current assets by current liabilities gives current ratio.

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