Reference no: EM13599821

Following are the current asset and current liability sections of the balance sheets for Freedom, Inc., at January 31, 2011 and 2010 (in millions):
January 31, 2011 January 31, 2010

• Current Assets
• Cash $ 9 $ 6
• Accounts receivable 7 10
• Inventories 7 11
• Total current assets $ 23 $ 27

Current Liabilities

• Note payable $ 5 $ 5
• Accounts payable 5 2
• Other accrued liabilities 2 2
• Total current liabilities $12 $ 9

Calculate the working capital and current ratio at each balance sheet date.

• 1/31/11 1/31/10
• Working capital $ $
• Current ratio