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3 years ago

The comparative financial statements for Prince Company are below:

Business

1 answer:

zheka24 [161]3 years ago

8 0

Answer:

It is increases by 0.155 times

Explanation:

As we know that

Current ratio = Current assets ÷ Current liabilities

where,

Current assets = Cash + account receivable + inventory

So in year 1, the current ratio is

= ($7,000 + $18,000 + $34,000) ÷ ($17,000)

= ($55,000) ÷ ($17,000)

= 3.47 times

And, in year 2 , the current ratio is

= ($4,000 + $14,000 + $40,000) ÷ ($16,000)

= ($58,000) ÷ ($16,000)

= 3.625 times

Therefore, it is increases by 0.155 times

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Answer:

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