Nokia is a leading global manufacturer of mobile devices and services. The following selected information is available from Nokia's financial statements.
|
(Euro million)
|
Current Year
|
Prior Year
|
|
Current assets
|
23,613
|
24,470
|
|
Current liabilities
|
15,188
|
20,355
|
Required
1. Compute Nokia's current ratio for both the current year and the prior year.
2. Comment on any change from the prior year to the current year for the current ratio.