Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Aberdeen Technology Corporation (ATC) financial statements follow: (Click the icon to view the consolidated balance sheets.) (Click the icon to view the consolidated income

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

The Aberdeen Technology Corporation (ATC) financial statements follow: (Click the icon to view the consolidated balance sheets.) (Click the icon to view the consolidated income statements.) ATC's current ratio at year-end 2020 is closest to (Round your answer to one decimal place.) O A. 0.8. B. 1.1. O C. 1.3. OD. 12. h Consolidated balance sheets Aberdeen Technology Corporation Consolidated Statements of Financial Position (in millions) December 31, 2020 2019 Assets Current assets: S 4,800 $ 4.766 Cash and cash equivalents 840 350 Short-term investments 3.100 2.400 Accounts receivable, net 335 324 Inventories 2.200 1.000 Other 11,275 8.840 Total current assets 1,700 1 050 Property, plant, and equipment, net 6.500 4,600 Investments 410 280 Other non-current assets 10 8850Ls 14 770 LLLLLLLL 19.885$ 14,770 Total assets Liabilities and Shareholders Equity Current liabilities: 7.700||$ 5.900 Accounts payable 3,000 2,500 Accrued and other 10.700 8,400 Total current liabilities 497 498 Long-term debt 21000 1,300 Other non-current liabilities Commitments and contingent liabilities 13.197 10.198 Total liabilities Shareholders equity Preferred shares: shares issued: 0 horized: 21,000; X Consolidated income statements Aberdeen Technology Corporation Consolidated Statements of Income (in millions, except per share amounts) Years Ended December 31, 2020 2019 2018 $ Net revenue 44,500 $ 29.500 39,000 $ 25 000 33,500 23,500 Cost of goods sold 15.000 14,000 10,000 Gross profit Operating expenses: Selling, general, and administrative Research, development, and engineering 3 150 2,650 1,900 392 800 860 382 Special charges 4,010 3.450 2,674 Total operating expenses 10.990 10,550 223 7,326 (68) Operating income 180 Investment and other income (loss), net 11,170 10,773 7,258 Income before income taxes Operating income DOU 7,326 180 223 (68) Investment and other income (loss), net Income before income taxes 11,170 10.773 7.258 1.250 885 470 Income tax expense $ 9,920 $ 9.888||$ 6.788 Net income Earnings per common share: 1.09 $ 0.86$ 0.56 Basic

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

11th Edition

0471448966, 978-0471448969

More Books

Students also viewed these Accounting questions

Question

Was the researcher critically reflexive?

Answered: 1 week ago

Question

Solve Prob. 27.4 with the finite-difference approach using x = 2.

Answered: 1 week ago

Question

Describe what a one-minute self-sell is and what it contains.

Answered: 1 week ago

Question

List and explain the steps in the negotiating process.

Answered: 1 week ago