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Teal Mountain Inc., a fertilizer company based in Saskatchewan, had the following information in its financial statements for the fiscal years ended December 31. All
Teal Mountain 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.
2021 | 2020 | 2019 | ||||
Cash and cash equivalents | $400 | $1,530 | $100 | |||
Accounts receivable | 1,270 | 810 | 580 | |||
Current assets | 5,490 | 3,670 | 1,570 | |||
Current liabilities | 3,220 | 1,305 | 1,010 |
Calculate Teal Mountain'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, eg. 1.75:1.) 2021 2020 2019 $ $ $ Working Capital Current Ratio Acid-test Ratio Determine from the results obtained in part (a) if Teal Mountain's: (1) Working capital from 2020 to 2021 (2) Current ratio from 2020 to 2021 (3) Current ratio from 2019 to 2020 (4) Acid-test ratio from 2020 to 2021. (5) Acid-test ratio from 2019 to 2020
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