Big Game Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below.
Question:
Big Game Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below.
Instructions
a. Calculate the following liquidity ratios for 2021 and 2020.
1. Current ratio 5. Inventory turnover
2. Acid-test ratio 6. Days sales in inventory
3. Receivables turnover 7. Operating cycle
4. Collection period
b. Indicate whether each of the liquidity ratios calculated in part (a) is better or worse in 2021.
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Step by Step Answer:
a b 1 Current ratio Worse 2 Acidtest ratio Worse 3 Receivables turnover ...View the full answer
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Related Book For 
Accounting Principles Volume 2
ISBN: 978-1119502555
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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