Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Year 2 Year 1Cash$37,500 $36,850 Short-term investments 90,000  90,000 Accounts receivable, net 85,500  86,250 Merchandise inventory 121,000  117,000 Prepaid expenses 12,100  13,500 Plant assets 388,000  392,000 Accounts payable 113,400  111,750 Net sales 711,000  706,000 Cost of goods sold 390,000  385,500 

A. 1.88.
B. 3.05.
C. 1.98.
D. 2.95.
E. 2.26.


Answer: B

Business

You might also like to view...

In 2019, Ramon sold land that had cost $80,000 for $200,000. The sales agreement called for a $50,000 down payment and a $50,000 payment plus 8% interest to be received on the first day of each year for the next three years. What would be the consequences of the following (treat each part independently and assume that Ramon uses the installment method whenever possible): a.In 2019, Ramon gave one of the $50,000 installment obligations to a close relative. b.In 2019, Ramon transferred the installment obligations ($50,000) to his 100% owned corporation. c.Ramon collected the $50,000 plus $12,000 interest on January 1, 2020, and died on January 2, 2020.?

What will be an ideal response?

Business

Hamid has a check indorsed "Pay to the order of Hamid Ali." Hamid gives the check to Yasmin without indorsing it. Which of the following statements is true of this case?

A. Yasmin is not a holder of the check because Hamid failed to indorse the check. B. Yasmin is not a holder of the check because she failed to indorse the check. C. Yasmin is a holder of the check because she may supply the missing indorsement herself. D. Yasmin is a holder of the check because only delivery was necessary to negotiate the check.

Business

Many market participants argue that financial markets are efficient and that financial statement users cannot routinely analyze financial statements to find mispriced securities. This view would lead some to suggest that there is little value to

financial statement analysis. Required: Provide a discussion of the role of financial statement analysis in an efficient capital market and reasons why financial statement analysis is still valuable.

Business

Which of the following is the lowest level on which marketers can position their brands in target customers' minds?

A) beliefs and values B) product benefits C) product attributes D) after-sale services E) brand equity

Business