Following Are the Financial Statements for Starman Corporation for the Year

question 159

Multiple Choice

Following are the financial statements for Starman Corporation for the year ended December 31, 20xx. Assume that all balance sheet amounts represent both average and ending figures.
$\begin{array}{|l|}\hline \text { Starman Corporation } \\\hline \text { Balance Sheet } \\\hline \text { December } 31,20 x x \\\hline \text { Assets }\\\hline\end{array}$

$\begin{array}{|l|l|}\hline \text { Cash } & \$ 20,000 \\\hline \text { Marketable securities } & 30,000 \\\hline \text { Accounts receivable } & 50,000 \\\hline \text { Inventory } & 100,000 \\\hline \text { Long-term receivables } & 35,000 \\\hline \text { Property, plant, and equipment } & 65,000 \\\hline \text { Total assets } & \$ 300,000 \\\hline\end{array}$

$\begin{array}{l}\begin{array}{|l|l|}\hline \text { Liabilities and Stockholders' Equity }\\\hline \text { Current liabilities } & \$ 100,000 \\\hline \text { Long-term liabilities } & 60,000 \\\hline \text { Stockholders' equity } & 140,000 \\\hline \text { Total liabilities and stockholders' equity } & \$ 300,000 \\\hline\end{array}\end{array}$

$\begin{array}{|l|}\hline \text { Starman Corporation } \\\hline \text { Income Statement } \\\hline \text { For the Year Ended December } 31,20 \mathrm{xx} \\\hline\end{array}$

$\begin{array}{|l|r|}\hline \text { Net sales } & \$ 400,000 \\\hline \text { Cost of goods sold } & 240,000 \\\hline \text { Gross margin } & \$ 160,000 \\\hline \text { Operating expenses } & 40,000 \\\hline \text { Income before income taxes } & \$ 120,000 \\\hline \text { Income taxes expense } & 30,000 \\\hline \text { Net income } & \$ 90,000 \\\hline\end{array}$
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What is the current ratio for this corporation? Round your answer to two decimal places.

• A) 1.00 times
• B) 1.54 times
• C) 1.70 times
• D) 2.00 times

Recognize the process of embedding Java applets into HTML pages.

Differentiate between various HTML tags and their functions.

Grasp how to manipulate web page characteristics using HTML.

Understand the initialization and lifecycle of Java applets.

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Definitions:

Situationist Argument

A perspective in social psychology that suggests human behavior is largely influenced by situational factors and the immediate environment rather than by personal traits or motivations.

Personality Researchers

Scientists and scholars who study the characteristics and behaviors that make individuals unique, often examining how factors like genetics, environment, and societal expectations influence personality development.

Responses

Reactions or answers to a particular process or situation, which can be verbal, non-verbal, or through actions.

Mischel's Review

A critical analysis by psychologist Walter Mischel of personality theory, emphasizing the variability of human behavior with situations rather than the consistency across different situations.