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Transic Corporation has the following financial data for 2016 and 2017. 2017 2016 ASSETS Current Assets: Cash $ 48,000 $ 14,000 Marketable Securities 9,000 13,000 Accounts Receivable 35,000 24,000 Other Current Assets 15,000 18,000 Total Current Assets 107,000 69,000 Fixed Assets (net) 140,000 130,000 Total Assets $247,000 $199,000 LIABILITIES Current Liabilities $ 72,000 $ 52,000 Long-term Liabilities 50,000 37,000 Total Liabilities $122,000 $ 89,000 Total Stockholders' Equity $125,000 $110,000 Total Liabilities And Stockholders' Equity $247,000 $199,000 What is Transic's current ratio for 2017
On May first, in order to reduce the number of overdue books, a childrens library instituted a policy of forgiving fines and giving bookmarks to children returning all of their overdue books. On July first there were twice as many overdue books as there had been on May first, although a record number of books had been returned during the interim.Which of the following, if true, most helps to explain the apparent inconsistency in the results of the librarys policy?(A) The librarians did not keep accurate records of how many children took advantage of the grace period, and some of the children returning overdue books did not return all of their overdue books.(B) Although the grace period enticed some children to return all of their overdue books, it did not convince all of the children with overdue books to return all of their books.(C) The bookmarks became popular among the children, so in order to collect the bookmarks, many children borrowed many more books than they usually did and kept them past their due date.(D) The children were allowed to borrow a maximum of five books for a two-week period, and hence each child could keep a maximum of fifteen books beyond their due date within a two-month period.(E) Although the library forgave overdue fines during the grace period, the amount previously charged the children was minimal; hence, the forgiveness of the fines did not provide enough incentive for them to return their overdue books.