Current Position Analysis The following data were taken from the comparative balance sheet of Icon...
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Current Position Analysis The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 2019 and December 31, 2048: Dec. 31, 2049 Dec. 31, 2048 Cash $267,600 $207,300 Temporary investments 285,600 227,100 Accounts and notes receivable (net) 262,800 247,600 Inventories 367,200 306,900 Prepaid expenses 142,800 96,100 Total current assets $1,326,000 $1,085,000 Accounts payable $197,200 $217,000 Accrued liabilities 142,800 93,000 Total current liabilities $340,000 $310,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 2049 20Y8 Working capital Current ratio Quick ratio b. The liquidity of Icon Living, Inc., has from 2088 to the 2049. The working capital, current ratio, and quick ratio have all Most of these changes are the result of
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