The trend analysis report of Poplar, Inc. is given below (in millions): 2019 2018 2017 2016 2015 Net income $700 $606 $470 $405 $402 Trend percentages 174% 151% 117% 101% 100%Which of the following is a correct conclusion from the above analysis? Select one: A. Net income for 2018 decreased by 151% from 2017. B. Net income for 2019 increased by 174% from 2018. C. Net income for 2019 is 174% of net income for 2015. D. Net income for 2018 is 151% of the previous year. The financial statements for Silver Service Company include the following items: 2019 2018 Cash $49,500 $40,000 Short-term Investments 33,000 20,500 Net Accounts Receivable 52,000 53,000 Merchandise Inventory 132,000 45,000 Total Assets 530,000 547,000 Accounts Payable 131,500 122,000 Salaries Payable 15,000 18,000 Long-term Note Payable 58,000 57,000 Compute the acid-test ratio for 2018. (Round your answer to two decimal places) Select one: A 0.93 B.0.66 C.0.81 D.0.92
The trend analysis report of Poplar, Inc. is given below (in millions): 2019 2018 2017 2016 2015 Net income $700 $606 $470 $405 $402 Trend percentages 174% 151% 117% 101% 100%Which of the following is a correct conclusion from the above analysis? Select one: A. Net income for 2018 decreased by 151% from 2017. B. Net income for 2019 increased by 174% from 2018. C. Net income for 2019 is 174% of net income for 2015. D. Net income for 2018 is 151% of the previous year. The financial statements for Silver Service Company include the following items: 2019 2018 Cash $49,500 $40,000 Short-term Investments 33,000 20,500 Net Accounts Receivable 52,000 53,000 Merchandise Inventory 132,000 45,000 Total Assets 530,000 547,000 Accounts Payable 131,500 122,000 Salaries Payable 15,000 18,000 Long-term Note Payable 58,000 57,000 Compute the acid-test ratio for 2018. (Round your answer to two decimal places) Select one: A 0.93 B.0.66 C.0.81 D.0.92
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The trend analysis report of Poplar, Inc. is given below (in millions):
Which of the following is a correct conclusion from the above analysis?
| | 2019 | 2018 | 2017 | 2016 | 2015 |
| Net income | $700 | $606 | $470 | $405 | $402 |
| Trend percentages | 174% | 151% | 117% | 101% | 100% |
Select one:
A.
Net income for 2018 decreased by 151% from 2017.
B.
Net income for 2019 increased by 174% from 2018.
C.
Net income for 2019 is 174% of net income for 2015.
D.
Net income for 2018 is 151% of the previous year.
The financial statements for Silver Service Company include the following items:
|
|
2019 |
2018 |
|
|
|
|
|
Cash |
$49,500 |
$40,000 |
|
Short-term Investments |
33,000 |
20,500 |
|
Net |
52,000 |
53,000 |
|
Merchandise Inventory |
132,000 |
45,000 |
|
Total Assets |
530,000 |
547,000 |
|
Accounts Payable |
131,500 |
122,000 |
|
Salaries Payable |
15,000 |
18,000 |
|
Long-term Note Payable |
58,000 |
57,000 |
|
|
|
|
Compute the acid-test ratio for 2018. (Round your answer to two decimal places)
Select one:
A 0.93
B.0.66
C.0.81
D.0.92
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