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MGC  Corporation

Consolidated Balance Sheet

December 31,

2016  and 2015 (in $ millions)

 

Assets

2016

2015

 

Liabilities and Stockholders' Equity

2016

2015

Current Assets

 

 

 

Current Liabilities

 

 

Cash

63.6

58.5

 

Accounts payable

87.6

73.5

Accounts receivable

55.5

39.6

 

Notes payable /

short-term debt

10.5

9.6

Inventories

45.9

42.9

 

Current maturities of long-term debt

39.9

36.9

Other current assets

6.0

3.0

 

Other current liabilities

6.0

12.0

  Total current assets

171.0

144.0

 

  Total current liabilities

144.0

132.0

 

 

 

 

 

 

 

Long-Term Assets

 

 

 

Long-Term Liabilities

 

 

 Land

66.6

62.1

 

 Long-term debt

239.7

168.9

 Buildings

109.5

91.5

 

 Capital lease obligations

---

---

 Equipment

119.1

99.6

 

Total Debt

239.7

168.9

 Less accumulated

 depreciation

(56.1)

(52.5)

 

Deferred taxes

22.8

22.2

Net property, plant, and equipment

239.1

200.7

 

Other long-term liabilities

---

---

Goodwill

60.0

--

 

Total long-term liabilities

262.5

191.1

Other long-term assets

63.0

42.0

 

Total liabilities

406.5

323.1

  Total long-term assets

362.1

242.7

 

Stockholders' Equity

126.6

63.6

 

 

 

 

 

 

 

Total Assets

533.1

386.7

 

Total liabilities and Stockholders' Equity

533.1

386.7

 

Refer to the balance sheet above. MGC Corporation's current ratio for 2016 is closest to:

a.0.84

b.0.87

c.1.15

d.1.19

Top Answer

The current ratio is the ratio between the current assets... View the full answer

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