Following are the current asset and current liability

Reference no: EM13604116

Following are the current asset and current liability sections of the balance sheets for Freedom, Inc., at January 31, 2011 and 2010 (in millions): January 31, 2011 January 31, 2010 Current Assets Cash $ 9 $ 6 Accounts receivable 7 10 Inventories 7 11 Total current assets $ 23 $ 27 Current Liabilities Note payable $ 5 $ 5 Accounts payable 5 2 Other accrued liabilities 2 2 Total current liabilities $12 $ 9 Calculate the working capital and current ratio at each balance sheet date. 1/31/11 1/31/10 Working capital $ $ Current ratio

Reference no: EM13604116

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