HighTech Company HighTech Company Manufactures Computer Technology Devices $\text { SelectedIncome Statement Data - for the year ending December 31, } 2005$

question 53

Multiple Choice

HighTech Company HighTech Company manufactures computer technology devices. Selected financial data for HighTech is presented below, use the information to answer the following questions:
$\begin{array}{lll}\text { Dec. } 31,2004&\text { As of Dec. } 31,2005&\text { Current Assets }\\\hline616,604 & \$ 1,267,038 & \text { Cash and short-term investments } \\665,828 & 490,816 & \text { Accounts Receivable (net) } \\487,505 & 338,599 & \text { Inventories } \\291,915&292,511&\text { Prepaid Expenses and other current asset: }\\\$2,061,852&\$2,388,964&\text { Total Current Assets }\\\\&&\text { Current Liabilities }\\\hline\$38,108 & \$ 25,190 & \text { Short-term borrowings } \\210,090 & 182,295 & \text { Current portion of long-term debt } \\334,247 & 296,307 & \text { Accounts payable } \\743,999 & 941,912 & \text { Accrued liabilities } \\239,793 & 203,049 & \text { Income taxes payable }\\1,566,237&1,648,753&\text { Total Curyent Liabilities }\end{array}$ $\text { SelectedIncome Statement Data - for the year ending December 31, } 2005$
$\begin{array}{ll}\$ 4,885,340 & \text { Net Sales } \\2,542,353 & \text { Cost of Goods Sold } \\733,541 & \text { Operating Income } \\230,101 & \text { Net Income }\end{array}$ SelectedStatement of Cash Flow Data - for the year ending December 31, 2005:
$\$ 1,156,084$$\quad$$\quad$$\quad$$\quad$ CashFlows from Operations HighTech's Operating Cash Flow to Current Liabilities ratio in 2005 was

• A) .70
• B) 1.39
• C) 1.00
• D) .72

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Definitions:

Charybdotoxin

A toxin isolated from scorpion venom, which blocks potassium channels in cells, affecting the cellular electrical activity.

Channels

Pathways through which substances can pass in and out of cells or across cell membranes, often specific to certain types of ions or molecules.

Substance P

A peptide neurotransmitter released by certain sensory neurons in pain pathways; signals the central nervous system regarding pain; also stimulates other structures, including smooth muscle in the digestive tract.

Neurotransmitter

Chemical substances released from neurons that transmit signals across a chemical synapse to affect other neurons, muscle cells, or gland cells.