单选题
Firebird Company reported the following financial information at the
end of 2007 (in millions) :
|
Merchandise inventory |
$240 |
|
Minority interest |
70 |
|
Cash and equivalents |
275 |
|
Accounts receivable |
1150 |
|
Accounts payable |
225 |
|
Property & equipment |
2160 |
|
Accrued expenses |
830 |
|
Current portion of long-term debt |
120 |
|
Long-term debt |
1570 |
|
Retained earnings |
4230 |
Calculate
Firebird' s current assets and working capital.
Current assets
Working capital
①A. $1665
million $ 420
million
②B. $ 1735 million
$ 490 million
③C. $1665 million
$ 490 million
【正确答案】
C
【答案解析】Current assets are equal to $ 1665 ( $ 275 cash and equivalents + $1150 accounts receivable + $ 240 inventory). Working capital( current assets minus current liabilities) is equal to $ 490 ($1665 current assets$ 225 accounts payable$ 830 accrued expenses$120 current portion of long-term debt).