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Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at August 31, 2014 and 2013 (in millions): August
Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at August 31, 2014 and 2013 (in millions): |
August 31,2014 | August 31, 2013 | ||||
Current Assets | |||||
Cash | $ | 3 | $ | 7 | |
Marketable securities | 8 | 11 | |||
Accounts receivable | 14 | 9 | |||
Inventories | 20 | 9 | |||
Total current assets | $ | 45 | $ | 36 | |
Current Liabilities | |||||
Note payable | $ | 3 | $ | 9 | |
Accounts payable | 11 | 15 | |||
Other accrued liabilities | 10 | 8 | |||
Total current liabilities | $ | 24 | $ | 32 | |
Required: |
Calculate the working capital and current ratio at each balance sheet date.(Enter "working capital" in millions of dollars (i.e., 10,000,000 should be entered as 10). Round your "current ratio" to 2 decimal places. (e.g., 32.16)) |
Working Capital for 8/31/14 and 8/31/13: Current Ratio for 8/31/14 and 8/31/13: |
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