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Calculate the working capital and current ratio

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Problem 1: Use the information below to calculate the working capital, current ratio, and quick ratio for 2020 and 2019. Has the corporation's position to pay current liabilities improved or gotten worse? Round ratios to one decimal place.

                                               2020                            2019

Cash and cash equivalents            $ 24,500               $ 22,650

Accounts receivable                     129,800                135,000

Inventories                                   215,350              209,000

Total current assets                       $369,650            $366,650

Current liabilities                             $346,100            $345,200

Working capital                                  23,550               21,450

Reference no: EM132996426

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