uther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005 Current Assets Current Liabilities Cash 62.4 58.5 Accounts payable 84.6 73.5 Accounts receivable 56.2 39.6 Notes payable / short−term debt 10.6 9.6 Inventories 44.1 42.9 Current maturities of long−term debt 39.6 36.9 Other current assets 5.2 3.0 Other current liabilities 6.0 12.0 Total current assets 167.9 144.0 Total current liabilities 140.8 132.0 Long−Term Assets Long−Term Liabilities Land 65.3 62.1 Long−term debt 237.2 168.9 Buildings 106.4 91.5 Capital lease obligations Equipment 117.7 99.6 Less accumulated depreciation (54.3) (52.5) Deferred taxes 22.8 22.2 Net property, plant, and equipment 235.1 200.7 Other long−term liabilities −−− −−− Goodwill 60.0 −− Total long−term liabilities 260 191.1 Other long−term assets 63.0 42.0 Total liabilities 400.8 323.1 Total long−term assets 358.1 242.7 Stockholders' Equity 125.2 63.6 Total Assets 526 386.7 Total liabilities and Stockholders' Equity 526 386.7 Refer to the balance sheet above. Luther's current ratio for 2006 is closest to:
uther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005 Current Assets Current Liabilities Cash 62.4 58.5 Accounts payable 84.6 73.5 Accounts receivable 56.2 39.6 Notes payable / short−term debt 10.6 9.6 Inventories 44.1 42.9 Current maturities of long−term debt 39.6 36.9 Other current assets 5.2 3.0 Other current liabilities 6.0 12.0 Total current assets 167.9 144.0 Total current liabilities 140.8 132.0 Long−Term Assets Long−Term Liabilities Land 65.3 62.1 Long−term debt 237.2 168.9 Buildings 106.4 91.5 Capital lease obligations Equipment 117.7 99.6 Less accumulated depreciation (54.3) (52.5) Deferred taxes 22.8 22.2 Net property, plant, and equipment 235.1 200.7 Other long−term liabilities −−− −−− Goodwill 60.0 −− Total long−term liabilities 260 191.1 Other long−term assets 63.0 42.0 Total liabilities 400.8 323.1 Total long−term assets 358.1 242.7 Stockholders' Equity 125.2 63.6 Total Assets 526 386.7 Total liabilities and Stockholders' Equity 526 386.7 Refer to the balance sheet above. Luther's current ratio for 2006 is closest to:
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Luther Corporation
Consolidated Balance Sheet
December 31, 2006 and 2005 (in $ millions)
|
Assets
|
2006
|
2005
|
Liabilities and
|
2006
|
2005
|
|
Current Assets
|
|
|
Current Liabilities
|
|
|
|
Cash
|
62.4
|
58.5
|
Accounts payable
|
84.6
|
73.5
|
|
Accounts receivable
|
56.2
|
39.6
|
Notes payable /
short−term
debt |
10.6
|
9.6
|
|
Inventories
|
44.1
|
42.9
|
Current maturities of
long−term
debt |
39.6
|
36.9
|
|
Other current assets
|
5.2
|
3.0
|
Other current liabilities
|
6.0
|
12.0
|
|
Total current assets
|
167.9
|
144.0
|
Total current liabilities
|
140.8
|
132.0
|
|
|
|
|
|
|
|
|
Long−Term
Assets |
|
|
Long−Term
Liabilities |
|
|
|
Land
|
65.3
|
62.1
|
Long−term
debt |
237.2
|
168.9
|
|
Buildings
|
106.4
|
91.5
|
Capital lease obligations
|
|
|
|
Equipment
|
117.7
|
99.6
|
|
|
|
|
Less accumulated
|
(54.3)
|
(52.5)
|
|
22.8
|
22.2
|
|
Net property, plant, and
equipment
|
235.1
|
200.7
|
Other
long−term
liabilities |
−−−
|
−−−
|
|
|
60.0
|
−−
|
Total
long−term
liabilities |
260
|
191.1
|
|
Other
long−term
assets |
63.0
|
42.0
|
Total liabilities
|
400.8
|
323.1
|
|
Total
long−term
assets |
358.1
|
242.7
|
Stockholders' Equity
|
125.2
|
63.6
|
|
|
|
|
|
|
|
|
Total Assets
|
526
|
386.7
|
Total liabilities and
Stockholders' Equity
|
526
|
386.7
|
Refer to the balance sheet above. Luther's current ratio for 2006 is closest to:
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