Fingertips, Inc. had the following financial data for the year ended December 31, 2017. Cash Cash equivalents $41,000 $76,000 Long term investments $58,000 Total current liabilities $146,000 What is the cash ratio as of December 31, 2017, for Fingertips, Inc.? a. 0.28 b. 0.40 c. 0.47 d. 0.80
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- Best Buy Co., Inc.Balance SheetAt January 30, 2016($ in millions)AssetsCurrent assets:Cash and cash equivalents $ 1,976Short-term investments 1,305Accounts receivable, net 1,162Merchandise inventories 5,051Other current assets 392Total current assets 9,886Long-term assets 3,633Total assets $13,519Liabilities and Shareholders’ EquityCurrent liabilities:Accounts payable $ 4,450Other current liabilities 2,475Total current liabilities 6,925Long-term liabilities 2,216Shareholders’ equity 4,378Total liabilities and shareholders’ equity $13,519Best Buy Co., Inc.Income StatementFor the Year Ended January 30, 2016($ in millions)Revenues $ 39,528 Costs and expenses 38,153Operating income 1,375 Other income (expense)* (65)Income before income taxes 1,310 Income tax expense 503Net income $ 807*Includes $80 of interest expense.Liquidity and solvency ratios for the industry are as follows:Industry AverageCurrent ratio 1.23Acid-test ratio 0.60Debt to equity 0.70Times interest earned 5.66…Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,200 $1,845Accounts receivable, net 3,450 3,180Inventories 2,639 3,042Other current assets 1,872 1,549Total current assets $11,161 $9,616Current liabilities $4,853 $5,893 (a)Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million (b)The parts of this question must be completed in order. This part will be available when you complete the part above.Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019 Current assets Cash and cash equivalents $3,040 $1,908 Accounts receivable, net 3,370 3,180 Inventories 2,774 3,016 Other current assets 1,956 1,628 Total current assets $11,140 $9,732 Current liabilities $4,882 $5,875 Calculate the current ratio and working capital for 3M for 2019 and 2020.
- HCB, Inc.'s financial partial statements are shown below. HCB Income Statement 2021 Sales 2,000.0 Assets 2021 Cash 86.0 Accounts receivable 360.0 Inventory 320.0 Short-term investments 223.0 Total current assets 989.0 Net fixed assets 1,940.0 Total assets 2,929.0 Liabilities and equity 2021 Accounts payable 200.0 Accruals 240.0 Short-term debt 292.9 Total current liabilities 732.9 Long-term debt 1,757.4 Total liabilities 2,490.3 Par + paid in capital less treasury 238.7 Retained earnings 200.0…Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,180 $1,836Accounts receivable, net 3,600 3,180Inventories 2,738 3,019Other current assets 1,932 1,590Total current assets $11,450 $9,625Current liabilities $4,830 $5,887 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million Link to TextSuppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019 Current assets Cash and cash equivalents $3,200 $1,881 Accounts receivable, net 3,500 3,175 Inventories 2,702 3,044 Other current assets 1,896 1,582 Total current assets $11,298 $9,682 Current liabilities $4,791 $5,869 1.Calculate the current ratio and working capital for 3M for 2019 and 2020. 2.Suppose that at the end of 2020, 3M management used $198 million cash to pay off $198 million of accounts payable. How would its current ratio and working capital have changed?
- Phillips, Inc. had the following financial data for the year ended December 31, 2025. Cash $42,000 Cash equivalents 78,000 Long term investments 58,000 Total current liabilities 150,000 What is the cash ratio as of December 31, 2025, for Phillips, Inc.? (Round your answer to two decimal places.) A. 0.80 B. 0.46 C. 0.28 D. 0.39Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). Current assets 3M Company Balance Sheets (partial) Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities Screenshot Current ratio Working capital 2022 $ $3,180 3,600 2,738 1,932 $11,450 $4,830 2021 $1,836 3,180 3,019 1,590 Suppose that at the end of 2022, 3M management used $183 million cash to pay off $183 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25: 1. Enter working capital answer to million.) $9,625 $5,887 :1 million DoneConsider the following financial data for Nguyen Industries: Statement of Financial Position as of December 31, 2018 Cash $ 232,500 Accounts payable $ 86,500 Accts. receivable 357,500 Short-term bank note 254,000 Inventories 150,500 Accrued wages & taxes 80,000 Total current assets $ 740,500 Total current liabilities $ 420,500 Long-term debt 566,000 Net fixed assets 774,500 Common equity 528,500 Total assets $ 1,515,000 Total liab. & equity $ 1,515,000 Profit & Loss Statement for 2018 Industry Average Ratios Net sales $ 1,894,000 Current ratio 1.4× Cost of goods sold 1,382,500 Quick ratio 1.0× Gross profit $ 511,500 Days sales outstanding 63 days Operating expenses 373,000 Inventory turnover 9.5× EBIT $ 138,500 Total asset turnover 1.5× Interest expense 64,000 Net…
- Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) 2022 2021 Current assets Cash and cash equivalents $3,044 $1,887 Accounts receivable, net 3,100 3,040 Inventories 2,687 3,022 Other current assets 1.894 1,526 Total current assets $10,725 $9.475 Current liabilities $ 4,988 $5,893 (a) Calculate the current ratio and working capital for 3M for 2021 and 2022. (Round current ratio to 2 decimal places, eg 125:1) Current ratio 2021 2.15 :1 2022 1.60 :1 Working capital 2021 %24 5737 million 2022 %24 3582 millionPlease show calculationSuppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M Company Balance Sheets (partial) Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities 2022 $3,010 3,510 2,765 1,914 2021 $4,770 $1,908 3,195 3,028 1,621 $11,199 $9,752 $5,800