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College Accounting, Chapters 1-27

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1SEB

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Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).
2022
2021
Cash
$13,600
$9,100
Accounts receivable
24,000
20,500
Inventory
31,700
30,800
Other current assets
12,700
11,909
Total current assets
$82,000
$72,309
Total current liabilities
$246,000
$315,600
Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. 2.12.)
2022
2021
Current ratio:
:1
:1
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