Homework: CTCs quick (acid test) ratio at year-end 2020 is closest to a) 8,787 million b) 0.47 c) 0.81 d) 0.65
Homework: CTCs quick (acid test) ratio at year-end 2020 is closest to a) 8,787 million b) 0.47 c) 0.81 d) 0.65
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Homework: CTCs quick (acid test) ratio at year-end 2020 is closest to
a) 8,787 million
b) 0.47
c) 0.81
d) 0.65
Transcribed Image Text:7/23/23, 8:59 PM
Assets
Current assets:
Canada Technology Corporation
Consolidated Statements of Financial Position
(in millions)
Cash and cash equivalents
Short-term investments
Accounts receivable, net
Inventories
Other
Total current assets
Property, plant, and equipment, net
Investments
Other non-current assets
Total assets
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable
Accrued and other
Total current liabilities
Long-term debt
Other non-current liabilities
Commitments and contingent liabilities
Total liabilities
Shareholders' equity:
Preferred shares; shares issued: 0
Common shares; shares authorized: 7,000;
shares issued: 2,556 and 2,579, respectively
Retained earnings
Other comprehensive loss
Other
Consolidated balance sheets
Total shareholders' equity
Total liabilities and shareholders' equity
$
$
$
December 31,
2020
4,317 $
835
3,635
327
1,519
10,633
1,517
6,770
391
19,311 $
7,316 $
3,580
10,896
505
1,630
13,031
284
6,131
(83)
(52)
6,280
$ 19,311 $
2019
4,232
406
2,586
306
1,394
8,924
913
5,267
366
15,470
5,989
2,944
8,933
506
1,158
10,597
1,479
3,486
(33)
(59)
4,873
15,470
Transcribed Image Text:Canada Technology Corporation
Consolidated Statements of Income
(in millions, except per share amounts)
Net revenue
Cost of goods sold
Gross profit
Operating expenses:
Selling, general, and administrative
Research, development, and engineering
Special charges
Total operating expenses
Operating income
Investment and other income (loss), net
Income before income taxes
Income tax expense
Net income
Earnings per common share:
Basic
$
$
EA
GA
Years Ended December 31,
2018
2020
41,444 $
33,892
7,552
3,544
464
4,008
3,544
180
3,724
1,079
2,645 $
1.03 $
2019
35,404 $
29,055
6,349
3,050
455
3,505
2,844
183
3,027
905
2,122 $
0.82 $
31,168
25,661
5,507
2,784
452
482
3,718
1,789
(58)
1,731
485
1,246
0.48
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