Financial ratios: Liquidity.The financial statements for Tyler Toys, Inc. are shown in the popup window Calculate the current ratio, quick ratio, and cash ratio for Tyler Toys for 2013 and 2014. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders?

What is the current ratio for 2014?

last answer said 0.88, this is incorrect.

$ $ Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue $ 14,147,935 $ 13,566,320 Cost of goods sold -8,447,829 $ -8,131,364 Selling, general, and administrative expenses -997,671 $ -981,313 Depreciation -1,498,689 $ -1,471,152 EBIT 3,203,746 $ 2,982,491 Interest expense -376,491 $ -355,972 Taxes - 1,074,357 $ -998,077 Net income $ 1,752,898 $ 1,628,442 Right click on the table and select Copy to Clipboard and then right-click the highlighted texts in the popup dialogue box and select Copy in order to paste its contents into a spreadsheet. $ $ $ $ Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 2014 2013 $ 1,455,784 $ $ $ 1,546,575 $ 312,153 $ 1,858,728 $ 332,082 1,787,866 ASSETS Current assets Cash Investments Accounts receivable Inventory Total current assets Long-term assets Investments $ Plant, property, and equipment $ Goodwill Intangible assets Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 2014 2013 LIABILITIES Current liabilities 191,014 $ 187,938 Accounts payable 181,713 $ 121,984 Short-term debt 667,757 $ 631,405 Total current liabilities 588,929 $ 564,902 Long-term liabilities 1,629,413 $ 1,506,229 Debt Other liabilities 3,053,779 $ 2,828,307 Total liabilities 8,496,123 $ 8,481,158 OWNERS' EQUITY 347,301 $ 346,755 Common stock 1,158,693 $ 957,041 Retained earnings Total owners' equity TOTAL LIABILITIES 14,685,309 $ 14,119,490 AND OWNERS' EQUITY 7,286,568 $ 1,463,851 $ 10,609,147 $ 6,604,956 1,346,138 $ $ 9,738,960 $ $ 1,454,158 1,458,175 $ 2,617,987 $ $ $ 2,926,372 $ 4,076,162 $ 4,380,530 TOTAL ASSETS $ $ 14,685,309 $ 14,119,490