LarsonFFS05 - F o c u s o n F i n a n c i a l S t a t e m e...

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Unformatted text preview: F o c u s o n F i n a n c i a l S t a t e m e n t s O n l i n e FFS 5-2 FFS 5-3 C h a p t e r 5 ClubLink Corporation , headquartered in King City, Ontario, is Canadas largest owner, oper- ator, and developer of golf clubs and resorts. An excerpt from its comparative balance sheet at December 31, 2002 shows the following assets and liabilities, in alphabetical order: Required Part 1 a. Calculate total current assets at December 31, 2002 and December 31, 2001. b. Calculate total current liabilities at December 31, 2002 and December 31, 2001. *Part 2 c. Calculate the current ratio for December 31, 2002 and December 31, 2001 (round to two decimal places). d. Was the change in the ratio favourable or unfavourable? Kelman T echnologies Inc. , based in Calgary, Alberta, provides seismic processing, tech- nical services, and data management services to resource exploration and exploitation service companies. An excerpt from its comparative balance sheet at December 31, 2002 shows the following assets and liabilities, in alphabetical order:...
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