Owl Sporting Goods Company reported the following at March 31, 2014 and 2013:

Requirement 2. Determine the total current assets balance for Owl Sporting Goods at March 31, 2013, and then compute the current ratio as of March 31, 2014 and as of March 31, 2013.

Begin by determining the total current assets balance for Owl Sporting Goods at March 31, 2013.

Total current asset at March 31, 2013 amount to................

Data Table Owl Sporting Goods Company Balance Sheets March 31 2014 2013 ASSETS Current: Cash S Accounts receivable 600 S 28,200 38,000 5,200 900 27,200 38,350 Inventories 4,900 Other current assets Total current assets Property and equipment, net 72,000 7,000 26,000 105,000$ Other assets 5,900 35,100 112,350 $ Total assets LIABILITIES Total current liabilities $ 52,600 $ 20,500 73,100 42,600 21,300 63,900 Long-term liabilities Total liabilities STOCKHOLDERS' EQUITY Common stock Retained earnings 22,500 22,100 9,400 26,350 31,900 48,450 105,000S 112,350 Total stockholders' equity $ Total liabilities and stockholders' equity Print Print Done Done * More Info - X Requirements 1. Identify the formula to compute the current ratio. 2. Determine the total current assets balance for Owl Sporting Goods at March 31, 2013, and then compute the current ratio as of March 31, 2014 and as of March 31, 2013. (Round to two decimal places.) 3. Has the current ratio for Owl Sporting Goods improved or deteriorated during the fiscal year ending March 31, 2014. How can you tell? Print Done