a. Measure the liquidity of Deere & Co. for each year using the company's net working capital and current ratio.

b.Is the trend in Deere's liquidity improving over this period?

($ thousands) 2013 2012 2011

Current assets Cash and cash equivalents 2,256,900 2,249,600 1,781,300

Short-term investments 0 1,557,700 0

Net receivables 3,979,600 3,602,500 3,502,200

Inventory 3,095,400 2,271,600 1,965,600

Total current assets 9,331,900 9,681,400 7,249,100

Current liabilities

Accounts payable 6,557,100 3,095,800 4,690,500

Short-term/current long-term debt 8,424,800 10,054,600 8,124,400

Other current liabilities 0 2,881,800 0

Total current liabilities 14,981,900 16,032,200 12,814,900