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2018. Houle Furniture Company has asked you to determine whether the company's ability to pay its current liabilities and long-term debts improved or deteriorated
2018. Houle Furniture Company has asked you to determine whether the company's ability to pay its current liabilities and long-term debts improved or deteriorated during (Click the icon to view the financial statement data.) Read the requirement. Calculate the following ratios for 2018 and 2017. Round your answers to two decimal places. a. Net working capital Select the formula and then enter the amounts to calculate the working capital for 2018 and 2017. 2018 2017 Current assets 442,000 468,000 b. Current ratio. Current liabilities 197,000 312,000 Net working capital 245,000 156,000 Select the formula and then enter the amounts to calculate the current ratio for 2018 and 2017. (Round the ratios to two decimal places, X.XX.) Current assets 2018 2017 $ 442,000 468,000 Current liabilities 197,000 312,000 Current ratio 2.24 1.50 c. Quick (acid-test) ratio. Select the formula and then enter the amounts to calculate the quick (acid-test) ratio for 2018 and 2017. (Abbreviations used: Avg = average, Cash = cash and cash equivalents, Ops operations, and ST short-term. Round the ratios to two decimal places, X.XX.) 2018 ( 2017 ( + Quick ratio
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