Mobile CompanyMobile Company manufactures computer technolog…
Questions
Mоbile CоmpаnyMоbile Compаny mаnufactures computer technology devices. Selected financial data for Mobile is presented below; use the information to answer the following questions: Current Assets Year 1 Year 0 Cash and short-term investments $1,267,038 $ 616,604 Accounts Receivable (net) 490,816 665,828 Inventories 338,599 487,505 Prepaid Expenses and other current assets 292,511 291,915 Total Current Assets $2,388,964 $2,061,852 Current Liabilities Short-term borrowings $ 25,190 $ 38,108 Current portion of long-term debt 182,295 210,090 Accounts payable 296,307 334,247 Accrued liabilities 941,912 743,999 Income taxes payable 203,049 239,793 Total Current Liabilities 1,648,753 1,566,237 Selected Income Statement Data - for the year ending December 31, Year 1: Net Sales $4,885,340 Cost of Goods Sold 2,542,353 Operating Income 733,541 Net Income 230,101 Selected Statement of Cash Flow Data - for the year ending December 31, Year 1: Cash Flows from Operations $1,156,084 Refer to the information for Mobile Company. Mobile's current ratio in Year 1 was: