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Tools For All (TFA) is a global supplier of tools and related accessories. The following data were taken from the company's 2018 annual report.
Tools For All (TFA) is a global supplier of tools and related accessories. The following data were taken from the company's 2018 annual report. Dollar amounts are in millions. Current assets Current liabilities Total assets Total liabilities Required Fiscal Years Ending December 31, 2018 December 31, 2017 $4,555.4 $4,559.0 4,004.7 4,309.1 19,381.0 11,139.7 19,310.4 10,750.1 a. Compute TFA's current ratios for 2018 and 2017. (Round your answers to 2 decimal places.) b. Compute TFA's debt-to-assets ratios for 2018 and 2017. (Round your answers to 2 decimal places.) c. Based on the ratios computed in Requirements a and b, did TFA's liquidity get better or worse from 2017 to 2018? d. Based on the ratios computed in Requirements a and b, did TFA's solvency get better or worse from 2017 to 2018?
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