You Have the Following Information on Universe It Ts, Inc

Multiple Choice

You have the following information on Universe It Ts, Inc.: sales to working capital = 10 times, profit margin = 25 percent, net income available to common stockholders = $3 million, and current liabilities = $1 million. What is the firm's balance of current assets?

A) $1.075m
B) $1.2m
C) $2.2m
D) $5m