SE10-10. Ratio analysis. (LO 3)
A 5-year comparative analysis of Low Light Company’s current ratio and quick ratio follows.
| 2004 | 2005 | 2006 | 2007 | 2008 | |
| current ratio | 1.19 | 1.85 | 2.50 | 3.40 | 4.02 |
| Acid- test ratio | 1. i5 | 1.02 | 0.98 | 0.72 | 0.50 |
a. What has been happening to the liquidity of Low Light Company over the 5 years presented?
b. Considering both ratios, what does the trend indicate about what has happened to the makeup of Low Light’s current assets over the 5-year period?
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