Le Gasse Inc. reported this information at December 31: Requirements 1. Using this information, calculate the current

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Le Gasse Inc. reported this information at December 31:

Requirements
1. Using this information, calculate the current ratio and the debt ratio for 2017, 2016, and 2015.
2. Explain whether each ratio improved or deteriorated over the three years. In each case, what does your answer indicate?

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Financial Accounting

ISBN: 978-0134564142

6th Canadian edition

Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin

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Question Posted: Mar 28, 2017 11:24 AM

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Le Gasse Inc. reported this information at December 31: Requirements 1. Using this information, calculate the current

Question:

2017 $ 20 50 10 2016 $ 15 57 2015 Current assets Total assets Current liabilities Total liabilities Sales revenue Net income 35 204 28 20 190 20 10 175 25 3

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Req1 Req 2 The current ratio improved over the thre...View the full answer

Financial Accounting

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