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Columbia Sportswear Company reported the following in recent balance sheets (amounts in millions).

(in millions)	September 30, 2016				December 31, 2015
Assets
Current Assets
Cash	$	529			$	540
Accounts Receivable		1,356				542
Inventories		1,650				704
Prepaid Rent		92				51
Total Current Assets		3,627				1,837
Software		560				208
Equipment		1,909				682
Total Assets	$	6,096			$	2,727
Liabilities and Shareholders' Equity
Liabilities
Current Liabilities
Accounts Payable	$	966			$	699
Notes Payable (short-term)		0				2
Income Taxes Payable		91				5
Total Current Liabilities		1,057				706
Notes Payable (long-term)		215				123
Total Liabilities		1,272				829
Stockholders Equity
Common Stock		202				62
Retained Earnings		4,622				1,836
Total Shareholders Equity		4,824				1,898
Total Liabilities and Shareholders Equity	$	6,096			$	2,727

Required:

1. 1. Calculate the current ratio at September 30, 2016 and December 31, 2015.
2. 2-a. Did the companys current ratio increase or decrease?
3. 2-b. What does this imply about the companys ability to pay its current liabilities as they come due?
4. 3-a. What would Cumberlands current ratio have been on September 30, 2016, if the company were to have paid down $10 of its Accounts Payable?
5. 3-b. Does paying down Accounts Payable in this case increase or decrease the current ratio?
6. 4. Are the companys total assets financed primarily by liabilities or stockholders equity at September 30, 2016?

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