Shown below are data taken from a recent annual report of, Topaz, Inc. (Dollar amounts in millions.)

Beginning End

of Year of Year

Balance sheet data:

Current assets....................................................... $ 725 $875

Total assets........................................................... $1,050 $1,200

Current liabilities.................................................. $275 $175

Total liabilities...................................................... $500 $600

Total stockholders equity.................................... $575 $725

Income statement data:

Net sales............................................................... $1,900

Gross profit.......................................................... $1100

Operating income................................................. $550

Net income........................................................... $350

.

Instructions Compute the following:

Question: Compute the Current ratio at year-end (round to nearest tenth)

Select one:

a.

5 to 1

b.

4 to 1

5 to 1

5 to 1

tion of an account receivable.

c.

6 to 1

d.

7 to 1