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Win's Companies, a home improvement store chain, reported the following summarized figures: Win's Companies, a home improvement store chain, reported the following summarized figures: (Click
Win's Companies, a home improvement store chain, reported the following summarized figures:
Win's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Win's has 30,000 common shares outstanding during 2018 Read the requirements. Requirement 1. Compute Win's Companies' current ratio at May 31, 2018 and 2017 Begin by selecting the formula to calculate Win's Companies' current ratio. Then enter the amounts and calculate the current ratio for 2018 and then 2017. (Round your answers to two decimal places, X.Xx.) - Current ratio Win's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 2017 Net Sales Revenue Cost of Goods Sold Interest Expense All Other Expenses Net Income 0,900 38,800 25,500 140 7,800 5,360 21,200 200 6,900 12,600 $ Win's Companies Balance Sheet May 31, 2018 and 2017 Assets Liabilities 2018 2017 2018 2017 2,300 $ 21,000 $ 12,900 13,300 9,800 23,100 Cash Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets All Other Assets Total Assets 1,700 Total Current Liabilities$ 26,000 7,600 7,300 11,000 54,200 32,000 13,000 Long-term Liabilities 5,700 Total Liabilities 7,200 2,400 33,900 Stockholders' Equity 10,000 42,300 52,300 86,200 $ 10,000 19,900 29,900 53,000 Common Stock 30,000 Retained Earnings 23,000 Total Equity 86,200 $ 53,000 Total Liabilities and Equity 1, Compute Win's Companies' current ratio at May 31, 2018 and 2017 2. Did Win's Companies' current ratio improve, deteriorate, or hold steady during 2018
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