Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Intel Corporation provided the following information on its balance sheet and statement of cash flows: Current liabilities $8,514,000,000 Inventories 4,314,000,000 Cash and equivalents 6,598,000,000 Other

Intel Corporation provided the following information on its balance sheet and statement of cash flows:

Current liabilities $8,514,000,000 Inventories 4,314,000,000

Cash and equivalents 6,598,000,000 Other current assets 2,146,000,000

Marketable securities 3,404,000,000 Cash flows from operating activites 10,620,000,000

Receivable 2,709,000,000

Assume that Intel, as a requirement of one of its loans, must maintain a current ratio of at least 2.30. Given the large amount of cash, how could Intel accomplish this on December 31(be specific as to dollar amount)?

Please also show the processing of how to solve this question.

Thank you

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Financial Accounting

Authors: Christopher D. Burnley

2nd Canadian Edition

1119406927, 978-1119406921

More Books

Students also viewed these Accounting questions