McCormick & Company, Incorporated, is a global leader in the manufacture, marketing, and distribution of spices, seasoning mixes, condiments, and other products to the food industry. McCormick and Company, Incorporated, reported the following in its 2012 Annual Report:
Consolidated Balance Sheet
November 30

Analyze:
1. What is the current ratio for both 2012 and 2011?
2. Did the current ratio improve from 2011 to 2012?
3. The company reported net sales of $4,014.2 million and gross profit of $1,617.8 million for its fiscal year ended November 30, 2012. What is the gross profit percentage for this period?

Transcribed Image Text:

in millions) 2012 1,285.4$1,222.9 4,165.44,087.8 $1,187.6 2,465.2$2,469.3 2011 Total Current Assets Total Assets Total Current Liabilities Total Liabilities $ 993.3