Next Question Welcome to MyLab Accounting! To begin, read the following problem statement and then click the icons to see a typical set of popup data in MyLab Accounting. Notice that you can move the popups and minimize them in order to still view your workable screen space. Robin Sporting Goods Company reported the following at March 31, 2022 and 2021: (Click the icon to view the balance sheets.) (Click the icon to view the Requirements) Begin to work through Requirement 1. Select an incorrect answer (choose Current liabilities / Current assets) and select the 'Check answer button at the bottom of the screen to see how you did: Requirement 1. Identify the formula to compute the current ratio. O A. Current assets / Total liabilities OB. Total assets / Current liabilities OC. Current liabilities / Current assets OD. Current assets / Current liabilities Notice that you are given a feedback message upon choosing an incorrect answer. The feedback will not be specific enough to answer the question for you, but to point you to error that you have made. Generally you will get two attempts at each multiple-choice step before you will be graded, although instructors can specify those settings. After your initial attempt, if you have additional attempts available continue to work to find the correct answer clicking check answer after each attempt until your attempts are exhausted and MyLab Accounting completes the question by placing a green star over the correct answer and a red "X' over the incorrect answer that you chose. MyLab Accounting then moves you to the next part of the question. MyLab Accounting gives as much flexibility as possible in answer formatting to give credit for answers that are correct even using an alternate format. Most answers can be entered in various forms, including commas, decimals, dollar signs, etc. When answering a free response question, however, like the one below, notice that the currency symbol will display before the input box. When you see this symbol, it indicates that you should not enter the currency symbol within the input box. Doing so will result in the system marking the answer as incorrect. Requirement 2. Determine the total current assets balance for Robin Sporting Goods at March 31, 2021, and then compute the current ratio as of March 31, 2022 and as of March 31, 2021. Begin by determining the total current assets balance for Robin Sporting Goods at March 31, 2021. Total current asset at March 31, 2021 amount to $ AA.... Abd. ................--. I... Total current asset at March 31, 2021 amount to $ After MyLab Accounting has graded your answers, you can see both correct and incorrect answers. Incorrect answers are indicated with a red triangle in the upper right corner. These cells will now show the correct answer. Hovering the mouse over the correct answer will show the incorrect answer you entered. MyLab Accounting populates the correct answer to prevent you from carrying wrong answers through a whole problem. Green instructions indicate that you need to be very careful to follow the instructions and enter your answer exactly as requested. In this case the current ratios must be entered rounded to 2 decimal places per the green instructions. If you round to something other than 2 decimals using the correct answer, the system will still mark the answer wrong. Enter an incorrect answer in either of the input boxes and select the 'Check answer' button at the bottom of the screen to see how you did: Now compute the current ratio as of March 31, 2022 and as of March 31, 2021. (Round to two decimal places.) The current ratio is at March 31, 2022 and is at March 31, 2021. Notice that you are given a feedback message that points you toward incorrect answers. The feedback will not be specific enough to answer the question for you, but to point you to the first error that you have made in the problem step and, in this case, the feedback also reminds you to round your answer to two decimal places. You should enter all of the inputs for that particular step before checking your answers. Generally you will get three attempts at each step before you will be graded, although instructors can specify those settings. Requirement 3. Has the current ratio for Robin Sporting Goods improved or deteriorated during the fiscal year ending March 31, 2022. How can you tell? You must answer both dropdowns in this step before checking your answer. To change your answer, click on the answer box and select your new answer. The amount of attempts you will receive will depend on the number of choices in the dropdowns. Robin's current ratio during fiscal 2022. We know this because the ratio from 2021 to 2022. The learning aids will help you if you get stuck on a question. They either appear on the right as separate buttons to click on or within the Question Help menu at the top right. The available learning aids may change from question to question depending on the type of problem and if your instructor enables all of the learning aids. The possible learning aides are: Requirement 3. Has the current ratio for Robin Sporting Goods improved or deteriorated during the fiscal year ending March 31, 2022. How can you tell? You must answer both dropdowns in this step before checking your answer. To change your answer, click on the answer box and select your new answer. The amount of attempts you will receive will depend on the number of choices in the dropdowns. Robin's current ratio during fiscal 2022. We know this because the ratio from 2021 to 2522. The learning aids will help you if you get stuck on a question. They either appear on the right as separate buttons to click on or within the Question Help menu at the top right. The available learning aids may change from question to questio depending on the type of problem and if your instructor enables all of the learning aids. The possible learning aides are: Help Me Solve This helps you work through the question, using different numbers, while breaking it into smaller steps, and adding more instruction and guidance. Students can work through a Help Me Solve This question before attempti their graded homework, as it makes the successful completion of that question in one attempt much more likely. You can also toggle into the Help Me Solve This at any time while you are working through a homework or study plan questio and use the skip ahead button to the exact point in the question where you are stuck. NOTE: if your instructor limits the number of attempts on questions, working through an entire Help Me Solve This question reduces the total number of attempts by 1. Click on the Help Me Solve This button or select from the Question Help menu on the right to walk through an example. The DemoDocs are Flash animations that show an entire question worked through step-by-step showing the chapter's main topic(s). The DemoDocs are like having your professor review the question over and over! The Video button (when available) allows you to view a short lesson on the concept covered in the problem. This real live professor will give you the information you need to help solve your accounting problems. The Textbook Pages link takes you right to the page in your book that covers the learning objective you're working on. The Calculator button brings up a calculator where you can check your math before entering an answer. Clicking Ask My Instructor lets you send an email to your instructor with a link to the problem you're working on. Robin Sporting Goods Company Balance Sheets March 31 2022 2021 ASSETS Current: Cash $ 1,700 Accounts receivable 33,600 1,500 $ 28,600 33,000 4,900 Inventories 34,000 3,700 Other current assets Total current assets 68,000 ? Property and equipment, net 6,500 22,000 4,000 31,100 Other assets $ 96,500 $ 108,100 Total assets LIABILITIES Total current liabilities $ 54,000 $ 6,600 64,500 9,900 Long-term liabilities Total liabilities 60,600 74,400 Inventories 33,000 4,900 34,000 3,700 Other current assets Total current assets 68,000 ? Property and equipment, net 6,500 22,000 4,000 31,100 Other assets $ 96,500||$ 108,100 Total assets LIABILITIES Total current liabilities 54,000||$ 6,600 64,500 9,900 Long-term liabilities Total liabilities 60,600 74,400 STOCKHOLDERS' EQUITY Common stock 23,500 12,400 23,000 10,700 Retained earnings Total stockholders' equity 35,900 33,700 108,100 Total liabilities and stockholders' equity 96,500|| $