Solved

Teague Industries Presented Below Is Selected Financial Data for Teague

Question 9

Multiple Choice

Teague Industries Presented below is selected financial data for Teague Industries for the current year:
 Current assets:  Current liabilities  Cash and cash equivalents $3,513 Accounts payable $5,365 Short-term investments 1,565 Other current liabilities 2,882 Receivables, net 1,861 Total current liabilities 8,247 Merchandise inventories 6,185 Noncurrent liabilities 5,156 Other current assets 1,925 Shareholders’ Equity 6,230 Total current assets 15,049 Total liabilities and shareholders’  equity $19,633 Noncurrent assets 4,584 Total assets $19,633 Revenues $50,826 Costs and Expenses 45,963 Operating Income 4,863 Other income/expense (including  interest expense of $50 )  (26)  Income before income tax 4,837 Income tax expense (1,439)  Net income $3,398\begin{array}{|c|c|c|c|}\hline \text { Current assets: } & & \text { Current liabilities } & \\\hline \text { Cash and cash equivalents } & \$ 3,513 & \text { Accounts payable } & \$ 5,365 \\\hline \text { Short-term investments } & 1,565 & \text { Other current liabilities } & 2,882 \\\hline \text { Receivables, net } & 1,861 & \text { Total current liabilities } & 8,247 \\\hline \text { Merchandise inventories } & 6,185 & \text { Noncurrent liabilities } & 5,156 \\\hline \text { Other current assets } & 1,925 & \text { Shareholders' Equity } & 6,230 \\\hline \text { Total current assets } & 15,049 & \begin{array}{l}\text { Total liabilities and shareholders' } \\\text { equity }\end{array} & \$ 19,633 \\\hline \text { Noncurrent assets } & 4,584 & & \\\hline \text { Total assets } & \$ 19,633 & & \\\hline \text { Revenues } & \$ 50,826 & & \\\hline \text { Costs and Expenses } & 45,963 & & \\\hline \text { Operating Income } & 4,863 & & \\\hline \begin{array}{l}\text { Other income/expense (including } \\\text { interest expense of } \$ 50 \text { ) }\end{array} & (26) & & \\\hline \text { Income before income tax } & 4,837 & & \\\hline \text { Income tax expense } & (1,439) & & \\\hline \text { Net income } & \$ 3,398 & & \\\hline\end{array}

Previous Years' Financial Data
 Total Assets $17,120 Shareholders’ Equity 3,990\begin{array} { | l | r | } \hline \text { Total Assets } & \$ 17,120 \\\hline \text { Shareholders' Equity } & 3,990 \\\hline\end{array}
Working capital for Teague Industries is ________.


A) $6,230
B) $6,802
C) $1,852
D) $11,386

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions