The following selected information (in thousands) was taken from Bonita Collections Ltd.'s December 31 statement of...
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The following selected information (in thousands) was taken from Bonita Collections Ltd.'s December 31 statement of financial position: 2024 2023 Current assets Cash $1,307 $1,843 Accounts receivable 2,594 1,908 Inventories 1,459 1,230 Other current assets 404 248 Total current assets $5,764 $5,229 Total current liabilities $3,854 $3,826 Calculate the current ratio for each of the two years. (Round answers to 1 decimal place, e.g. 5.2.) Current ratio 2024 :1 2023 : 1 Based only on this information, would you say that the company's liquidity is improving or getting weaker in 2024? eTextbook and Media Suppose that Bonita Collections used $1,218,000 of its cash to pay off $1,218,000 of its accounts payable. How would this transaction change the current ratio for 2024? eTextbook and Media The following selected information (in thousands) was taken from Bonita Collections Ltd.'s December 31 statement of financial position: 2024 2023 Current assets Cash $1,307 $1,843 Accounts receivable 2,594 1,908 Inventories 1,459 1,230 Other current assets 404 248 Total current assets $5,764 $5,229 Total current liabilities $3,854 $3,826 Calculate the current ratio for each of the two years. (Round answers to 1 decimal place, e.g. 5.2.) Current ratio 2024 :1 2023 : 1 Based only on this information, would you say that the company's liquidity is improving or getting weaker in 2024? eTextbook and Media Suppose that Bonita Collections used $1,218,000 of its cash to pay off $1,218,000 of its accounts payable. How would this transaction change the current ratio for 2024? eTextbook and Media
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