The Following Information Is Available for Grosvenor Company: Profit $2,200

Multiple Choice

The following information is available for Grosvenor Company: profit $2,200 million; net cash provided by operating activities $1,200 million; total expenses $1,700 million; depreciation expense $275 million; cash dividends $330 million; capital expenditures $750 million; and cash and cash equivalents $700 million. Grosvenor's cash to daily cash expenses ratio is calculated as:

A) $1,200 ÷ ($1,700 ÷ 365)
B) $700 ÷ ($1,700 ÷ 365)
C) $700 ÷ [($1,700 - $275) ÷ 365]
D) $1,200 ÷ [($1,700 - $275) ÷ 365]