accounting and Financial analysis. questions 1 and 2

ASSIGNMENTS ASSIGNMENT 7.1. USING RATIOS TO ASSESS CURRENT AND LONG-TERM LIABILITIES In FY 2010, the MLK Settlement House has total assets of $1.2 million and cur- rent assets of $300,000. Its current liabilities are $200,000, and its long-term lia- bilities are $800,000. What ratios can be used with these data? What would the answers be? Given the fact that there is only one year's worth of data, what conclusions can you draw? ASSIGNMENT 7.2. A SECOND YEAR's WORTH OF DATA In FY 2009, the MLK Settlement House has total assets of $900,000 and current assets of $350,000. Its current liabilities are $240,000, and its long-term liabilities are $1,000,000. What are the ratios and what conclusions can you draw now that you have two years' worth of data