c. Determine the reason(s) for the changes from year-to-year.

d. State the impact the ratio changes will have on the clinic.

	Clinic 2009	Clinic 2008	Possible Reasons for the change	Impact the ratio change on the clinic	Research ratio	Analysis of why the researched ratio differs from the clinic ration
Current ratio	2.20	2.10
Quick or acid test ratio	0.25	0.10
Days cash on hand	15 days	5 days
Long term debt to net assets	1.10	2.18
Operating margin	0.10	0.03

1. Determine the reason(s) for the changes from year-to-year

2. Compare the financial ratios from Calvin Clinic to the financial ratios State of Maryland (this is the researched ratio).

3. Speculate on whet the driving factors of the ratio improvements might have been.

4. Explain why the driving factors were important then, and what might their importance be today.

Note: Use the link to fill in the research ratio. State of Maryland database. http://www.hscrc.state.md.us/hsp-AFS.cfm