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…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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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