The Following Data Represent Selected Information from the Comparative Income

question 25

Multiple Choice

The following data represent selected information from the comparative income statement and balance sheet for Hot Rolled Corporation for the years ended December 31, 2014 and 2013: •10,000 shares of common shares have been issued and outstanding since the
Company was established. They had a market value of $90 per share on December 31, 2013, and they were selling for $91.50 on December 31, 2014.
Refer to the table above. The acid-test ratio for Hot Rolled Corporation on December 31, 2013, was:

• A) 0.67
• B) 0.57
• C) 1.26
• D) 1.45