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Analyzing Financial Statement Data Presented below are summary financial data from the Bristol-Myers Squibb 2018 annual report. Using the ratio definitions from Exhibit 4.6, calculate

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Analyzing Financial Statement Data Presented below are summary financial data from the Bristol-Myers Squibb 2018 annual report. Using the ratio definitions from Exhibit 4.6, calculate the financial leverage. Does the company appear to be a good investment? Why or why not? (amounts in millions) 2018 2017 Balance sheet Total assets $34,986 $33,551 Shareholders' equity 14,127 11,847 Income statement Net sales $22,561 $20,776 Net income 4.920 1,007 Round all answers to two decimal places. 2017 2018 X 96 X 96 X 96 X % a. Return on equity b. Return on assets (levered) C. Return on sales (levered) d.Asset turnover e. Financial leverage X 96 X % x x x x X X X

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