3 Suppose these selected condensed data are taken from recent balance sheets of Tyson Farms (in thousands). Compute the current ratio for each year and comment on your results. 20182017Cash$13,606$7,669Accounts receivable23,04519,951Inventory31,08731,345Other current assets12,52211,909Total current assets$80,000$70,874Total current liabilities$245,805$326,203Current ratio:

Current Ratio: A current ratio is a liquidity ratio that measures the ability of the company to…

Answered: Compute the current ratio for each year…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.6E

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3 Suppose these selected condensed data are taken from recent balance sheets of Tyson Farms (in thousands). Compute the current ratio for each year and comment on your results.

	2018	2017
Cash	$13,606	$7,669
Accounts receivable	23,045	19,951
Inventory	31,087	31,345
Other current assets	12,522	11,909
Total current assets	$80,000	$70,874
Total current liabilities	$245,805	$326,203

Current ratio:

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