Matthews Company Presented Below Is Selected Financial Information for Matthews

question 51

Multiple Choice

Matthews Company Presented below is selected financial information for Matthews Corporation for the most recent fiscal year ended December 31 ($ millions)
$$\begin{array} { | l | r | l | r | } \hline \text { Current assets: } & & \text { Current liabilities: } & \\ \hline \text { Cash and cash equivalents } & \$ 2,402 & \text { Accounts payable } & \$ 5,050 \\\hline \text { Short-term investment } & 1,416 & \text { Other current liabilities } & 2,757 \\\hline \text { Receivables, net } & 1,310 & \text { Total current liabilities } & 7,807 \\\hline \text { Merchandise inventories } & 5,174 & \text { Noncurrent liabilities } & 2,479 \\\hline \text { Other current assets } & 1,407 & \text { Shareholders' Equity } & \underline { 5,000 } \\\hline \text { Total current assets } & 11,709 & \text { Total liabilities and shareholders' equity } & \$ 15,286 \\\hline \text { Noncurrent assets } & 3,577 & & \\\hline \text { Total assets } & \$ 15,286 & & \\\hline\end{array}$$ $$\begin{array} { | l | r | } \hline \text { Revenues } & \$ 40,339 \\\hline \text { Costs and Expenses } &\underline{ 38,889} \\\hline \text { Operating Income } & 1,450 \\\hline \begin{array} { l } \text { Other income/expense (including interest expense of } \\\$ 90 ) \end{array} &\underline{(63) } \\\hline \text { Income before income tax } & 1,387\\\hline \text { Income tax expense } &\underline{ ( 141 ) }\\\hline \text { Net income } &\underline{\$ 1,246 } \\\hline\end{array}$$ $\begin{array}{lrr} \text { Previous Year's Financial Data } &\\ \text { Total Assets } &\underline{\$14,013}\\ \text { Shareholders' Equity } &\underline{\$3,989}\\\end{array}$
The current ratio for Matthews Corporation is ________. (Round your answer to two decimal places, X.XX.)

• A) 0.67
• B) 1.50
• C) 1.44
• D) 4.72

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Definitions:

New York Federal Reserve Bank

A regional bank part of the Federal Reserve System, playing a key role in monitoring and executing monetary policy in the United States.

Discount Rate

The rate of interest the Fed charges to loan money to any banking institution to meet reserve requirements.