Go to Connect online for the financial statements of Cadbury and to Appendix A of this book for the financial statements of the Nestlé Group.

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1. Compute the current ratio for each company for each year shown in the financial statements.

2. Compute the trade payables turnover ratio for each company for each year.

3. Using this information and any other data from the annual report, write a brief assessment of the liquidity of the two companies.