Question
Selected balance sheet and income statement information for the office supply retailer, Organized Plus Co., for 2019 through 2017 follows: ($ thousands) 2019 2018 2017
Selected balance sheet and income statement information for the office supply retailer, Organized Plus Co., for 2019 through 2017 follows:
| ($ thousands) | 2019 | 2018 | 2017 |
| Interest expense | $ 414,794 | $262,105 | $67,086 |
| Pretax income | 2,311,788 | 2,486,168 | 3,088,964 |
| Net income | 1,477,342 | 1,610,528 | 1,991,340 |
| Current assets | 12,349,534 | 11,594,516 | 9,110,760 |
| Total assets | 27,434,668 | 26,146,110 | 18,072,680 |
| Current liabilities | 6,619,060 | 8,479,538 | 4,567,325 |
a. Compute the current ratio for each year and discuss any trends.
b. Compute times-interest-earned ratio for each year and discuss any trends.
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Core Concepts Of Accounting Information Systems
Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman
11th Edition
9780470507025, 0470507020
