HighTech Company HighTech Company Manufactures Computer Technology Devices SelectedIncome Statement Data - for the year ending December 31, 2005
Question 20
Question 20
Multiple Choice
HighTech Company HighTech Company manufactures computer technology devices. Selected financial data for HighTech is presented below, use the information to answer the following questions: Dec. 31,2004616,604665,828487,505291,915$2,061,852$38,108210,090334,247743,999239,7931,566,237 As of Dec. 31,2005$1,267,038490,816338,599292,511$2,388,964$25,190182,295296,307941,912203,0491,648,753 Current Assets Cash and short-term investments Accounts Receivable (net) Inventories Prepaid Expenses and other current asset: Total Current Assets Current Liabilities Short-term borrowings Current portion of long-term debt Accounts payable Accrued liabilities Income taxes payable Total Curyent Liabilities SelectedIncome Statement Data - for the year ending December 31, 2005 $4,885,3402,542,353733,541230,101 Net Sales Cost of Goods Sold Operating Income Net Income SelectedStatement of Cash Flow Data - for the year ending December 31, 2005: $1,156,084 CashFlows from Operations HighTech's quick ratio improved by what percentage from 2004 to 2005?
A) 30% B) 107% C) 25% D) 82%
Correct Answer:
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