Shown Below Are Data Taken from a Recent Annual Report

question 156

Essay

Shown below are data taken from a recent annual report of, Topaz, Inc. (Dollar amounts in millions.)
Instructions Compute the following:
a. Current ratio at year-end (round to nearest tenth) ________ to 1
b. Working capital at the beginning of the year (in millions) $____________
c. Gross profit rate for the year (round to the nearest 1 percent) ______%
d. Return on average total assets for the year (round to the nearest 1 percent) ______%
e. Return on average total equity for the year (round to the nearest 1 percent) ______%
$\begin{array}{lrr}&\text { Beginning } & \text { End } \\&\text { of Year } & \text { of Year }\\\\\text { Balance sheet data: }\\\text { Current assets } & \$ 625 & \$ 700 \\\text { Total assets. } & \$ 1,050 & \$ 1,200 \\\text { Current liabilities } & \$ 275 & \$ 175 \\\text { Total liabilities } & \$ 500 & \$ 600 \\\text { Total stockholders' equity } & \$ 575 & \$ 725\\\\\text { Income statement data: }\\\text { Net sales } && \$ 1,900 \\\text { Gross profit } && \$ 900 \\\text { Operating income } && \$ 450 \\\text { Net income } && \$ 300\end{array}$

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Definitions:

Bipolar Cells

Bipolar cells are a type of neuron found in the retina, acting as a middle layer that relays signals from photoreceptors to ganglion cells.

Cones

Photoreceptor cells in the retina of the eye responsible for color vision under bright light conditions.

Bipolar Cells

Cells in the retina that act as a relay between photoreceptors and ganglion cells, transferring visual information.

Ganglion Cells

Neurons located in the retina that receive visual information from photoreceptors via bipolar cells and transmit it to the brain through the optic nerve.