First, access the 2023 annual 10-K report of Rocky Mountain Chocolate Factory (RMCF) linked above
Locate the Financial Statements and Supplementary Data in the 10-K Report using the Table of Contents. Use the information provided on the appropriate financial statement to answer the following two questions:
Requirement 1. Identify the February 28, 2023 current assets, then the 2023 current liabilities listed on the financial statement. List each of the current asset by name and their dollar amount, and then list the current liabilities by name and their dollar amount. Include the total for each of the two categories.
Requirement 2. Compute Rocky Mountain Chocolate Factory’s Current Ratio for both the fiscal year 2023 and the year 2022. Show the math used in each of your calculations. Next, define what the current ratio means.
The current ratio for Rocky Mountain Chocolate Factory for 2021 was current assets of $12,776,823 / current liabilities of $3,780,320 = 3.380
Requirement 3. Using the information from Requirement 2 is RMCF’s current ratio healthy? Why did you come to that conclusion?
I recommend that you compose your first post using a word document on your computer. After carefully proofreading your post, double checking your math, and using spell check, copy and paste your post in the reply area in Canvas. After you have completed your first post, your classmate’s posts will become available. Caution: do not select reply in Canvas until you are ready, because once you open your first reply, that is the one that will be scored, no second chances for the first post. 8 points.
