2. Below are the financial numbers for three chemical companies needed to calculate Altman's Z-score (1983) for 2016 (in millions). PPG Dow DuPont Total Current Assets 17117 23659 6452 4240 Total Current Liabilities 8897 12604 39964 Total Assets 79511 15769 Retained Earnings Earnings before Tax Interest Expense Total Stockholders' Equity 15984 14924 30338 3265 4413 827 370 751 99 9998 25987 4826 Total Liabilities 10943 29966 53524 a. Calculate Altman's Z-score for each company and rate each company as failing, healthy, or indeterminate. PPG Dow DuPont 6.56 x Working Capital/Total Assets 3.26x Retained Earnings/Total Assets 6.72 x EBIT/Total Assets 1.05 x BV of Equity / BV of Debt = Z-score Category b. 2016 bond ratings for the chemical companies are: PPG DuPont Dow Baa2 B oody's Standard & Poor's A3 A- A Evaluate the credit worthiness of these companies. Use Altman's Z-score, bond ratings, and previous financial analysis and rate the companies on a 1-10 scale. Explanation Rating Du Pont Dow PPG c. Are the signals from Altman's Z-score and bond ratings consistent? Explain