Income Statements and Balance Sheets Follow for Snap-On Incorporated

Short Answer

Income statements and balance sheets follow for Snap-On Incorporated. Refer to these financial statements to answer the requirements.
Required:
a. Compute the company's current ratio and quick ratio for fiscal 2016 and 2015. Comment on any observed trend.
b. Compute the company's times interest earned and liabilities-to-equity ratio for 2016 and 2015. Comment on any observed trend.
c. Summarize your findings in a conclusion about the company's liquidity and solvency. Do you have any concerns about the company's ability to meet its debt obligations?