The Following Information Pertains to Unique Company Total Liabilities and Stockholders' Equity $300,000

question 84

Multiple Choice

The following information pertains to Unique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. $\begin{array}{lr}\text { Assets }\\\text { Cash and short-term investments } & \$ 40,000 \\\text { Accounts receivable (net) } & 30,000 \\\text { Inventory } & 20,000 \\\text { Property, plant and equipment } & 210,000 \\\text { Total Assets } & \$ 300,000 \\\\\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } & \$ 60,000 \\\text { Long-term liabilities } & 90,000 \\\text { Stockholders' equity\_common } & 150,000\end{array}$ Total Liabilities and Stockholders' Equity $300,000 $\begin{array}{lr}\text { Income Statement }\\\text { Sales revenue } & \$ 90,000 \\\text { Cost of goods sold } & 45,000 \\\text { Gross profit } & 45,000 \\\text { Operating expenses } & 20,000 \\\text { Net income } & \$ 25,000\\\\\text { Number of shares of common stock } & 6,000 \\\text { Market price of common stock } & \$ 20 \\\text { Dividends per share on common stock } & 0.90 \\\text { Cash provided by operations } & \$ 30,000\end{array}$ What is the current ratio for this company?

• A) 1.5
• B) 1.0
• C) 1.17
• D) 0.67

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Definitions:

Timeliness

The characteristic of being done at the right or appropriate time, often essential for efficiency and effectiveness.

Recognition

The acknowledgment or appreciation of someone's efforts, achievements, or status.

Feedback

is the information given to individuals or systems about their performance, intended to reinforce strengths or improve weaknesses.

Energize

To activate and mobilize, as in empowering people to accomplish results, an essential leadership function.