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Applying the Accounting Equation and Calculating Ratios The following table contains financial statement information for The Procter & Gamble Company ($ millions) for the
Applying the Accounting Equation and Calculating Ratios The following table contains financial statement information for The Procter & Gamble Company ($ millions) for the fiscal years ended in June of each year: Year Assets Liabilities Equity Net Income 2016 $127,136 2017 $69,153 $? ? 64,628 54,178 ? 51,326 $10,508 15,326 9,750 2018 118,310 Required a. Compute the missing amounts for assets, liabilities, and equity for each year. 2016 $ 57,983 2017 $ 118,806 2018 $ 66,984 b. Compute return on equity for 2017 and 2018. (Round your answer to one decimal place.) 2017 2018 28.3% x 18.99 % * c. Compute the debt-to-equity ratio for 2017 and 2018. (Round your answer to one decimal place.) 2017 2018 27.3 x 18.5 x
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