1999 income statement ($ in millions) net sales $1,384 less: cost of goods sold 605 less: depreciation 180 earnings before interest and taxes 599 less: interest paid 80 taxable income 519 less: taxes 156 net income $363 addition to retained earnings $254 dividends paid 109 young, inc. 1998 and 1999 balance sheet ($ in millions) 1998 1999 1998 1999 cash $100 $121 accounts payable $400 $350 accounts rec. 350 425 notes payable 390 370 inventory 440 410 total $790 $720 total $890 $956 long-term debt 500 550 net fixed assets 1,556 1,704 common stock 600 580 retained earnings 556 810 total assets $2,446 $2,660 total liabilities $2,446 $2,660 what is the current ratio for young in 1999? 1.13 1.21 1.23 1.33 1.47

1.33

Explanation:

The formula to compute the current ratio is shown below:

= 1.33

The current assets equals to

= Cash + accounts receivable + inventory

= $121 + $425 + $410

= $956

And, the current liabilities equals to

=  Accounts payable + notes payable

= $350 + $370

=  $720

This ratio shows a relationship between current assets and the current liabilities. It is a liquidity ratio.

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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answer; tech (a) is correct;