Harrison Company Calculated the Following Amounts Concerning Its Financial Information

question 446

Essay

Harrison Company calculated the following amounts concerning its financial information for the years ending December 31, 2015 and 2014:
Required:
Examine Harrison's ratios. Is the change in the current ratio favorable or not? Explain.

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Definitions:

Coal

The natural, brown to black rock derived from peat and other plant materials that have been buried, compacted, and heated; used for heating and to generate electricity.

Marine Organisms

Living creatures that inhabit the ocean, ranging from microscopic phytoplankton to large whales, adapted to the marine environment.

Organic Material

Matter derived from living organisms, including plants, animals, and their byproducts, which can decompose into soil.

Calcite

A carbonate mineral and the most stable polymorph of calcium carbonate (CaCO3), commonly found in sedimentary rocks.