You are the accountant at Indigo. Refer to Appendix III for Indigos Consolidated Balance Sheet as at

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You are the accountant at Indigo. Refer to Appendix III for Indigo’s Consolidated Balance Sheet as at March 31, 2018. Your manager has assigned you the following tasks.

a. Calculate the current ratio, quick ratio, and debt to equity ratios for 2017 and 2018. Round your answer to two decimal places.

b. Comment on the ratios, the change between 2017 and 2018, and what additional information you would want to know to get a better picture of Indigo’s financial performance.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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