Selected information from the comparative balance sheets for Sears Holdings Corporation are presented here. Although some accounts are not listed, all of the current assets and current liabilities are given. (LO 3, 4, 9)

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a. Provide the following values at the end of each given fiscal year.

1. Current assets 

2. Current liabilities 

3. Current ratio

b. Based on your answers in part a, discuss the change in liquidity between the two years.

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at January 28, 2006 at January 26, 2005 (dollars in millions) Cash Accounts receivable $ 4,440 $3,435 811 646 Inventory 9,068 3,281 Other current assets 888 179 Property, plant, and equipment 9,823 315 Accounts payable 3,458 927 Other current liabilities 5,892 1,154 Long-term debt 8,612 2,101 Total shareholders' equity 11,611 4,469