Please review the Wet Seal 11/2014 10-Q and complete the associated spreadsheet in the Module 1 lesson.

What do the current ratio, quick ratio and debt ratio say about what was happening to the company? What else can you find out from the 10-Q that can help understand what was happening to the company?

Item I. Financial Statements (Unaudited) THE WET SEAL. INC CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) November ,2014 February 1, 2014 November 2, 2013 ASSETS CURRENT ASSETS Cash and cash equivalents Short-term investments Income tax receivables Other receivables 38,772 $ 30,084 35,812 141 19,058 7,386 1,549 3,230 31,578 31,209 42,587 13,289 124,593 Prepaid expenses and other current assets Total current assets 65,420 78,097 87,970 65,066 153,036 (88,117) 64,919 Furniture, fixtures and equipment 47,945 138,240 (81,951) equipment and leasehold improvements OTHER ASSETS: Other assets 2891 2891 92 885 S 2,003 2,003 91,515 Total other assets TOTAL ASSETS 51,739 $ LIABILITIES AND STOCKHOLDERS' (DEFICID EQUITY CURRENT LIABILITIES Current portion of convertible debt, net of discount of $2,808, at November 1, 7,342 $ Accounts payable-merchandise Accounts payable other Accrued liabilities Current portion of deferred rent 18,530 8,814 20,704 3.508 51,556 11,361 3,632 3,909 Total current liabalities 64,096 LONG-TERM LIABILITIES: Warrants and embedded derivatives Senior convertible debt, net of discount of $1,501, at November 1, 2014 Deferred rent Other long-term liabilities 1,061 13,949 28,992 31,066 31,092 1,796 32,888 96,984 1,784 Total long-term labalities Total liabilities 103,417 84,406 RS (DEFICTT) EQUITY Common stock, Class A, $0.10 par value, authorized 300,000,000 shares, 84,592,344 shares issued and 84,361,900 shares outstanding at November 1,2014 84,730,594 shares issued and 84,695,369 shares outstanding at February 1, 2014 10 192018 WTSL Q3 2014 10-0 shares no shares issued and outstanding Paid-in capital Accumulated deficit Treasury stock, 230,444, 35,225 and 6,175 shares, at cost, at November 1, 2014, February 1, 2014, and November 2, 2013, respectively Accumulated other comprehensive loss 218,663 216,944 216,512 (237,598) (157,864) (130,323) (68) 152) (127) 94,531 91,515 Total stockholders' (deficit) equity (10,532) 92,885 $ 67, 333 TOTAL LIABILITIES AND STOCKHOLDERS (DEFICIT) EQUITY 51,739 $ See notes to condensed consolidated financial statements Add header The Het Seal 21112014 38,772 11121203 30,084 Cash ST Investments IT receivables Other receivables 19,058 1549 31,578 42,587 Prepaidother current assets Total current assets 65,420 124,593 Total assets Current portion debt alp merchandise alp other accrued liabilities Current portion deferred rent 20,704 24,203 Total current liabilities Total liabilities 103,417 84,406 96,984 Current ratio Quick ratio Debt ratio