Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2Year 1Current assets: Cash$90 $120 Accounts receivable, net 100 110 Inventory 170 160 Prepaid expenses 40 40 Total current assets$ 400 $ 430 Total current liabilities$ 320 $ 290 Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720.The current ratio at the end of Year 2 is closest to:
A. 0.32
B. 0.38
C. 1.20
D. 1.25
Answer: D
You might also like to view...
Moonbeam Gift Shop's inventory turned over six times during the year. Similar gift shops have an inventory turnover equal to twelve times per year. What explains Moonbeam's state of inventory management?
a. Moonbeam sold too much inventory during the year. b. Moonbeam needs to increase sales and decrease the amount of inventory on hand. c. Moonbeam is performing twice as well as its competitors. d. Moonbeam should increase the amount of goods on hand to accommodate the additional inventory demand.
When employees exercise share options, the company records the gross proceeds received from the employees exercising options as cash inflows from investing activities
Indicate whether the statement is true or false
Interactions occur when the effects of one factor on the dependent variable depend on the level (category) of the other factors
Indicate whether the statement is true or false
Which of the following options is not a wise choice of action for a negotiator in a low-power position?
A. limit the ways you can do business or with whom you can do business B. deal with a variety of individuals and departments in the high-power party C. diversity risk by entering into deals with several other partners D. use anger to make yourself bigger