Financial & Managerial Accounting

14th Edition

ISBN: 9781337119207

Author: Carl Warren, James M. Reeve, Jonathan Duchac

Publisher: Cengage Learning

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Textbook Question

Chapter 4, Problem 2ADM

Under Armour: Current ratio

The following year-end data were taken from recent balance sheets of Under Armour, Inc. (in millions):

	December 31
	Year 2	Year 1
Current assets	$1,129	$903
Current liabilities	427	252

A. Compute the working capital and the current ratio as of December 31, Year 2 and Year 1. (Round to one decimal place.)

B. What conclusions concerning the company's ability to meet its short-term obligations can you draw from part (A)?

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Solution Summary: The author calculates the working capital and current ratio as of December 31 for year 2 and year 1.

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