In a recent balance sheet, Wal-Mart reported the following information (in millions):

Required
Calculate Wal-Mart's current ratio for each year and answer the following questions:
a. Was the company more or less liquid in the current year?
b. Should an investor be concerned that the current ratio is less than 1.0? Why or why not?
c. What is likely to be the most important factor in Wal-Mart being able to pay its current liabilities in a timely manner? (Hint: Think about its largest current asset.)

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Current assets Current liabilities Current year $48,949 55,390 Prior year $48,020 58,478