Consider the following information taken from Chicago Water Slide€™s (CWS€™s) financial statements:

Also, Chicago Water Slide€™s Operating Cash Flows were $25,658 and $29,748 in 2008 and 2007, respectively.

Required:
1. Calculate CWS€™s current ratio for 2008 and 2007.
2. Calculate CWS€™s quick ratio for 2008 and 2007.
3. Calculate CWS€™s cash ratio for 2008 and 2007.
4. Calculate CWS€™s operating cash flow ratio for 2008 and 2007.
5. Provide some reasons why CWS€™s liquidity may be considered to be improving and some reasons why it may beworsening.

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September 30 (in thousands) 2008 2007 $ 2,548 60,142 63,592 9,636 $12,900 33,096 28,144 5,240 Cash and cash equivalents Receivables Other current assets Total current assets Current liabilities: Current portion of long-term debt Accounts payable Accrued compensation costs Accrued expenses Other current liabilities $ 194 46,248 11,212 18,216 1,748 $ 77,618 $ 7,060 22,456 3,858 10,108 1,554 $45,036 Total current liabilities