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Study the information from IBM’s financial statements below: ...
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Study the information from IBM’s financial statements below:
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Dec 31, 2010
|
Dec 31, 2009
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Dec 31, 2008
|
Current assets
|
R 48 116 000
|
R 48 935 000
|
R 49 004 000
|
Current liabilities
|
R 40 562 000
|
R 36 002 000
|
R 42 435 000
|
Inventory
|
R 2 450 000
|
R 2 494 000
|
R 2 701 000
|
Total liabilities
|
R 90 405 000
|
R 86 385 000
|
R 96 058 000
|
Total assets
|
R 113 452 000
|
R 109 022 000
|
R 109 524 000
|
Net income
|
R 14 833 000
|
R 13 425 000
|
R 12 334 000
|
Gross profit
|
R 46 014 000
|
R 43 785 000
|
R 45 661 000
|
Sales
|
R 99 870 000
|
R 95 758 000
|
R 103 630 000
|
What is the acid-test ratio for the year 2008?