These selected condensed data are taken from recent balance sheets of Bob Evans

Question

These selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).

2009 2008 Cash $ 13,606 $ 7,669 Accounts receivable 23,045 19,951 Inventories 31,087 31,345 Other current assets 12,522 11,909 Total current assets $ 80,260 $ 70,874 Total current liabilities $245,805 $326,203 These selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).

2009 2008 Cash $ 13,606 $ 7,669 Accounts receivable 23,045 19,951 Inventories 31,087 31,345 Other current assets 12,522 11,909 Total current assets $ 80,260 $ 70,874 Total current liabilities $245,805 $326,203 2009 2008 $ 13,606 $ 7,669 23,045 19,951 31,087 31,345 12,522 11,909 $ 80,260 $ 70,874 $245,805 $326,203 2009 2008 These selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).

2009 2008 Cash $ 13,606 $ 7,669 Accounts receivable 23,045 19,951 Inventories 31,087 31,345 Other current assets 12,522 11,909 Total current assets $ 80,260 $ 70,874 Total current liabilities $245,805 $326,203 These selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). Compute the current ratio for each year. (Round answers to 2 decimal places, e.g. .12 : 1.)

Explanation / Answer

Hi,

Please find the answer as follows:

Current Ratio (2009) = 80260/245805 = .33:1

Current Ratio (2008) = 70874/326203 = .22:1

Thanks.

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