Question
Mobile Company manufactures computer technology devices. Selected financial data for Mobile is presented below: Current Assets As of Dec. 31, 2020 Dec. 31, 2019 Cash
Mobile Company manufactures computer technology devices. Selected financial data for Mobile is presented below:
Current Assets | As of Dec. 31, 2020 | Dec. 31, 2019 |
Cash and short-term investments | $1,267,038 | $616,604 |
Accounts Receivable (net) | 490,816 | 665,828 |
Inventories | 338,599 | 487,505 |
Prepaid Expenses and other current assets | 292,511 | 291,915 |
Total Current Assets | $2,388,964 | $2,061,852 |
Current Liabilities | ||
Short-term borrowings | $25,190 | $38,108 |
Current portion of long-term debt | 182,295 | 210,090 |
Accounts payable | 296,307 | 334,247 |
Accrued liabilities | 941,912 | 743,999 |
Income taxes payable | 203,049 | 239,793 |
Total Current Liabilities | 1,648,753 | 1,566,237 |
Selected Income Statement Data - for the year ending December 31, 2020:
Net Sales | $4,885,340 |
Cost of Goods Sold | 2,542,353 |
Operating Income | 733,541 |
Net Income | 230,101 |
Selected Statement of Cash Flow Date - for the year ending Cecember 31, 2020:
Cash Flows from Operations | $1,156,084 |
Mobile's current ratio in 2020 was:
a. | 1.07 | |
b. | 1.45 | |
c. | 1 | |
d. | .69 |
Mobile's quick ratio changed by what percentage from 2019 to 2020?
a. | 30% | |
b. | 107% | |
c. | 25% | |
d. | 82% |
Mobile's Operating Cash Flow to Current Liabilities ratio in 2020 was:
a. | .70 | |
b. | 1.39 | |
c. | 1.00 | |
d. | .72 |
Mobile's days receivables outstanding at the end of 2020 was:
a. | 43.20 days | |
b. | 40.50 days | |
c. | 45.25 days | |
d. | 8.50 days |
Mobile's days accounts payable outstanding at the end of 2020 is:
a. | 7.53 days | |
b. | 48.09 days | |
c. | 45.51 days | |
d. | 50 days |
Mobile's 2020 Inventory Turnover ratio is:
a. | 7.46 | |
b. | 11.83 | |
c. | 6.16 | |
d. | 5.62 |
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