Question
Keurig Green Mountain's Current Liabilities Following is the current assets and current liabilities portion of the balance sheet of Keurig Green Mountain for the years
Keurig Green Mountain's Current Liabilities
Following is the current assets and current liabilities portion of the balance sheet of Keurig Green Mountain for the years ended September 26, 2015, and September 27, 2014:
(Dollars in thousands) | September 26, 2015 | September 27, 2014 | |
Current assets: | |||
Cash and cash equivalents | $59,334 | $761,214 | |
Restricted cash and cash equivalents | 30,460 | 378 | |
Short-term investment | 100,000 | ||
Receivables, less uncollectible accounts and return allowances of $35,459 and $66,120 at September 26, 2015 and September 27, 2014, respectively | 517,936 | 621,451 | |
Inventories | 691,980 | 835,167 | |
Income taxes receivable | 51,786 | ||
Other current assets | 95,526 | 69,272 | |
Deferred income taxes, net | 70,181 | 58,038 | |
Total current assets | $1,517,203 | $2,445,520 | |
Current liabilities: | |||
Current portion of long-term debt | $ 279 | $ 19,077 | |
Current portion of capital lease and financing obligations | 3,271 | 2,226 | |
Accounts payable | 298,609 | 411,107 | |
Accrued expenses | 226,519 | 305,677 | |
Income tax payable | 1,085 | 53,586 | |
Dividend payable | 44,048 | 40,580 | |
Deferred income taxes, net | 264 | 340 | |
Other current liabilities | 28,049 | 10,395 | |
Total current liabilities | $ 602,124 | $ 842,988 |
Source: Keurig Green Mountain, Inc Form 10-K for year ended September 26, 2015.
Required:
1. Determine the company's current ratio for each fiscal year. Round your answers to two decimal places.
Current Ratio | |
2014 | : 1 |
2015 | : 1 |
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