Calculate and analyze liquidity measures  Following are the current asset and                   
current liability sections of the balance sheets for Calketch, Inc., at August 31, 2014   
and 2013 (in millions):   
  August 31, 2014 August 31, 2013    
Current Assets      
Cash $18 $36  
Marketable Sec $42 $60  
AR $78 $48  
Inventories $108 $48  
Total Current Assets $246 $192  
Current Liabilities      
NP $18 $48  
AP $60 $84  
Other Current Liabilities $54 $42                  
Total Current liabilities $132 $174                  
 a.  Calculate the working capital and current ratio at each balance sheet date.                   
Round your current ratio answers to two decimal places.                   
Working Capital = Current Assets less Current Liabilities                  
  August 31, 2014 August 31, 2013                    
Cuurent Ratio = CA/CL                  
 b.  Describe the change in the firm’s liquidity from 2013 to 2014.                   

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