AN Gildan Activewear Inc. is a leading manufacturer and marketer of family apparel, including T-shirts, fleece, sports shirts, socks, and shapewear. Its brands include American Apparel and Gold Toe. The following data (in thousands of U.S. dollars) were taken from Gildans financial statements:

Gildans financial statements:

		December 31, 2019				January 1, 2018				January 3, 2017
Cash and cash equivalents			64,126			46,657					52,795
Trade accounts receivable			320,931			317,159					243,365
Inventories						1,689					3,891
Income tax receivable			1,052,052			940,029					945,738
Prepaid expenses, deposits and other current assets			77,064			77,377					62,092
Current assets			1,514,173			1,382,911					1,307,881
Current liabilities			422,404			346,985					258,476

Instructions:

Calculate the working capital, current ratio, and acid-test ratio for each year.

Discuss Gildans liquidity on December 29, 2019, compared with the two previous years.

Prepare worksheet.