Question
At January 1, 2013, Crane Company had total assets of $900,000 and at December 31, 2013, its total assets were $1,100,000. Crane's net sales for
At January 1, 2013, Crane Company had total assets of $900,000 and at December 31, 2013, its total assets were $1,100,000. Crane's net sales for 2013 were $850,000 and its 2013 net income was $55,000. Crane's return on assets for 2013 is:
Select one:
A. 5.5%
B. 5.0%
C. 6.5%
D. 85.0%
E. None of the above
Blier Company has a current ratio of 3.00. Which of the following events would cause its current ratio to increase?
Select one:
A. Collection of an account receivable
B. Payment of an account payable
C. Purchase of office supplies on account
D. Purchase of equipment on account
E. None of the above
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