2A2B SELECTED FINANCIAL DATA FOR BOYD CORPORATION ARE SHOWN BELOW. JA...
30.
CSO: 2A2a
LOS: 2A2b
Selected financial data for Boyd Corporation are shown below.
January 1
December 31
Cash
$ 48,000
$ 62,000
Accounts receivable (net)
68,000
47,000
Trading securities
42,000
35,000
Inventory
125,000
138,000
Plant and equipment (net)
325,000
424,000
Accounts payable
32,000
84,000
Accrued liabilities
14,000
11,000
Deferred taxes
15,000
9,000
Long-term bonds payable
95,000
77,000
Boyd’s net income for the year was $96,000. Boyd’s current ratio at the end of the year
is
a.
1.55.
b.
1.71.
c.
2.71.
d.
2.97.