Homework: CTCs quick (acid test) ratio at year-end 2020 is closest to a) 8,787 million b) 0.47 c) 0.81d) 0.65 7/23/23, 8:59 PMAssetsCurrent assets:Canada Technology CorporationConsolidated Statements of Financial Position(in millions)Cash and cash equivalentsShort-term investmentsAccounts receivable, netInventoriesOtherTotal current assetsProperty, plant, and equipment, netInvestmentsOther non-current assetsTotal assetsLiabilities and Shareholders' EquityCurrent liabilities:Accounts payableAccrued and otherTotal current liabilitiesLong-term debtOther non-current liabilitiesCommitments and contingent liabilitiesTotal liabilitiesShareholders' equity:Preferred shares; shares issued: 0Common shares; shares authorized: 7,000;shares issued: 2,556 and 2,579, respectivelyRetained earningsOther comprehensive lossOtherConsolidated balance sheetsTotal shareholders' equityTotal liabilities and shareholders' equity$$$December 31,20204,317 $8353,6353271,51910,6331,5176,77039119,311 $7,316 $3,58010,8965051,63013,0312846,131(83)(52)6,280$ 19,311 $20194,2324062,5863061,3948,9249135,26736615,4705,9892,9448,9335061,15810,5971,4793,486(33)(59)4,87315,470 Canada Technology CorporationConsolidated Statements of Income(in millions, except per share amounts)Net revenueCost of goods soldGross profitOperating expenses:Selling, general, and administrativeResearch, development, and engineeringSpecial chargesTotal operating expensesOperating incomeInvestment and other income (loss), netIncome before income taxesIncome tax expenseNet incomeEarnings per common share:Basic$$EAGAYears Ended December 31,2018202041,444 $33,8927,5523,5444644,0083,5441803,7241,0792,645 $1.03 $201935,404 $29,0556,3493,0504553,5052,8441833,0279052,122 $0.82 $31,16825,6615,5072,7844524823,7181,789(58)1,7314851,2460.48

Quick ratio: It can be defined as a financial ratio that indicates company's financial position in…

Answered: Homework: CTCs quick (acid test) ratio…

Business

Accounting

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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