-Refer to the partial balance sheet presented above for Gibraltar, Inc. Compute the following liquidity ratios for 2013 and 2012:
Comment on the direction and significance of the change in the ratios from 2012 to 2013.
Definitions:
Interest Expense
The cost incurred by an entity for borrowed funds, which can include loans, bonds, or lines of credit.
Lease Term
The lease term is the fixed, non-cancellable period of time for which a lease is taken out, including any options to renew that are reasonably certain to be exercised.
Loan Covenants
Clauses in a loan agreement that require the borrower to fulfill certain conditions or restricts certain activities to protect the lender.
Operating Lease
A lease agreement that allows the use of an asset but does not convey rights of ownership to the lessee; expenses are typically reported as operating expenses in the income statement.
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