17. A firm has $520 in inventory, $1,860 in fixed assets, $190 in accounts recei
ID: 2675543 • Letter: 1
Question
17. A firm has $520 in inventory, $1,860 in fixed assets, $190 in accounts receivables, $210 in accounts payable, and $70 in cash. What is the amount of the current assets?A. $710
B. $780
C. $990
D. $2,430
E. $2,640
18. The Purple Martin has annual sales of $687,400, total debt of $210,000, total equity of $365,000, and a profit margin of 5.20 percent. What is the return on assets?
A. 6.22 percent
B. 6.48 percent
C. 7.02 percent
D. 7.78 percent
E. 9.79 percent
19. Which one of the following is a source of cash?
A. increase in accounts receivable
B. decrease in notes payable
C. decrease in common stock
D. increase in accounts payable
E. increase in inventory
Explanation / Answer
17.A
18.B
19E