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Calculate and analyze liquidity measures Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at August 31, 2014 and 2013 (in millions):
August 31, 2014
August 31, 2013
Current Assets
Cash
$18
$36
Marketable Sec
$42
$60
AR
$78
$48
Inventories
$108
Total Current Assets
$246
$192
Current Liabilities
NP
AP
$84
Other Current Liabilities
$54
Total Current liabilities
$132
$174
Required:
a. Calculate the working capital and current ratio at each balance sheet date.
Round your current ratio answers to two decimal places.
Working Capital = Current Assets less Current Liabilities.
CA
CL
WC
Cuurent Ratio = CA/CL
ratio
b. Describe the change in the firm's liquidity from 2013 to 2014.
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