The following data were taken from the balance sheet of Albertini Company at the end...
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Accounting
The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years:
Current Year
Previous Year
Current assets:
Cash
$372,400
$285,500
Marketable securities
425,900
326,400
Accounts and notes receivable (net)
531,700
408,100
Inventories
343,200
210,600
Prepaid expenses
146,800
89,400
Total current assets
$1,820,000
$1,320,000
Current liabilities:
Accounts and notes payable (short-term)
$404,000
$352,000
Accrued liabilities
296,000
248,000
Total current liabilities
$700,000
$600,000
a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.
Current Year
Previous Year
1. Working capital
$fill in the blank 1
$fill in the blank 2
2. Current ratio
fill in the blank 3
fill in the blank 4
3. Quick ratio
fill in the blank 5
fill in the blank 6
b. The liquidity of Albertini has from the preceding year to the current year. The working capital, current ratio, and quick ratio have all . Most of these changes are the result of an in current assets relative to current liabilities.
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