Agassiz Inc. (Agassiz) provides commercial cleaning services. The company picks up items needing cleaning and returns them
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Agassiz Inc. (Agassiz) provides commercial cleaning services. The company picks up items needing cleaning and returns them to the business within 48 hours. Agassiz invoices customers monthly and requires payment within 30 days. Over the last few years the company has been growing fairly rapidly. You are provided with the following information about Agassiz:Required:
a. Calculate the current ratio and the quick ratio on June 30, 2014 and 2015.
b. Assess the change in the liquidity position of Seahorse Inc.
c. Can you think of any circumstances where a significant increase in the quick ratio could be an indicator of a deteriorating liquidity position?
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