Homework Answers
Beginning of year
Current assets = Cash and cash equivalents + Receivable + Merchandise inventory + Other current assets
= 370+1990+979+225
= $3,564
Current liabilities = $1,650
Working capital = Current assets - Current liabilities
= 3,564-1,650
= $1,924
Current ratio = Current asset/Current liabilities
= 3,564/1,650
= 2.16:1
End of Year
Current assets = Cash and cash equivalents + Receivable + Merchandise inventory + Other current assets
= 60+1,960+819+395
= $3,234
Current liabilities = $1,540
Working capital = Current assets - Current liabilities
= 3,234-1,540
= $1,694
Current ratio = Current asset/Current liabilities
= 3,234/1,540
= 2.1:1
| Beginning of Year | End of Year | |
| Working Capital | $1,924 | $1,694 |
| Current ratio | 2.16:1 | 2.1:1 |
Liquidity worsen during the year since both the current ratio and working capital declined during the year.
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