Holysh Inc. reported a current ratio of 1.5:1 in the current fiscal year, which is higher than

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Holysh Inc. reported a current ratio of 1.5:1 in the current fiscal year, which is higher than its current ratio last year of 1.2:1. It also reported a receivables turnover of 9 times, which is less than last year's receivables turnover of 12 times, and an inventory turnover of 6 times, which is less than last year's inventory turnover of 9 times. Is Holysh's liquidity improving or deteriorating? Explain.
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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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