Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Transic Corporation has the following financial data for 2015 and 2016. 2016 2015 ASSETS Current Assets: Cash $ 48,000 $ 14,000 Marketable Securities 9,000 13,000

Transic Corporation has the following financial data for 2015 and 2016. 2016 2015 ASSETS Current Assets: Cash $ 48,000 $ 14,000 Marketable Securities 9,000 13,000 Accounts Receivable 35,000 24,000 Other Current Assets 15,000 18,000 Total Current Assets 107,000 69,000 Fixed Assets (net) 140,000 130,000 Total Assets $247,000 $199,000 LIABILITIES Current Liabilities $ 72,000 $ 52,000 Long-term Liabilities 50,000 37,000 Total Liabilities $122,000 $ 89,000 Total Stockholders Equity $125,000 $110,000 Total Liabilities And Stockholders Equity $247,000 $199,000 What is Transics current ratio for 2016?

A 2.14

B 0.88

C 0.21

D 1.49

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

The Routledge Handbook Of Integrated Reporting

Authors: Charl De Villiers, Warren Maroun, Pei-Chi Hsiao

1st Edition

0367233851, 978-0367233853

More Books

Students also viewed these Finance questions