Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. need answered now gildan activewear inc. is

NEED ANSWERED NOW Gildan Activewear Inc. is a leading...

70.2K

Verified Solution

Question

Accounting

NEED ANSWERED NOW
image
image
image
Gildan Activewear Inc. is a leading manufacturer and marketer of family apparel, including T-shirts, fleece, sport shirts, socks, and shapewear. Its brands include American Apparel and Gold Toe. The following data (in thousands of US dollars) were taken from Gildar's financial statements: January 1, 2017 December 31, 2017 $52,795 January 3, 2016 $50,675 Cash and cash equivalents $38,197 Trade accounts receivable 243,365 277.733 306,132 Inventories 945.738 954,876 851,033 Income tax receivable 3,891 Prepaid expenses, deposits and other current assets 62.092 69.719 45,774 Current awets 1.307.881 1,340,525 1,253,614 current liabilities 258,476 235,928 233.221 Part 1 Calculate the working capital current ratio, and acid test ratio for each year. (Round current ratio and acid-test ratio answers to 2 decimal places, es. 1.75:1.) December 31, 2017 January 1, 2017 January 3, 2016 Working Capital Current Ratio Acid-test ratio Part 2 Comment on Gildan's liquidity on December 31, 2017.compared with the two previous years. Gildan's liquidity from prior years improved declined To the

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students