Gibraltar, Inc.A partial balance sheet for the company is provided below. Assume that all of the account balances on the balance sheet are normal balances.
-Refer to the partial balance sheet presented above for Gibraltar,Inc.Compute the following liquidity ratios for Year 2 and Year 1:
Current ratio
Quick ratio
Cash ratio
Comment on the direction and significance of the change in the ratios from Year 1 to Year 2.
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