Marin Inc., a fertilizer company based in Saskatchewan, had the following information in its financial statements for the fiscal years ended December 31. All
Marin Inc., a fertilizer company based in Saskatchewan, had the following information in its financial statements for the fiscal years ended December 31. All figures are in millions of Canadian dollars. 2024 2023 2022 Cash and cash equivalents $380 $1,670 $96 Accounts receivable 1,335 780 520 Current assets 5,145 3,185 1,452 Current liabilities 3,430 1,225 880 Calculate Marin's (1) working capital, (2) current ratio, and (3) acid-test ratio for each year. (Enter working capital amounts in millions. Round ratio answers to 2 decimal places, e.g. 1.75:1.) Working Capital Current Ratio Acid-test Ratio 2024 1 +A 2023 2022 : 1 : : 1 1 Determine from the results obtained in part (a) if Marin's: (1) Working capital from 2023 to 2024. (2) Current ratio from 2023 to 2024. (3) Current ratio from 2022 to 2023. (4) Acid-test ratio from 2023 to 2024. (5) Acid-test ratio from 2022 to 2023.
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Step: 1
Working capital can be computed as Current asset Current liabilities For 2024 5145 34...See step-by-step solutions with expert insights and AI powered tools for academic success
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