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Assets Current assets: Cash and marketable securities $ 6,936 $ 7,047 Accounts receivable 5,794 6,015 Inventories 43,963 43,226 Other current assets 3,691 2,121 Total current

Assets
Current assets:
Cash and marketable securities $ 6,936 $ 7,047
Accounts receivable 5,794 6,015
Inventories 43,963 43,226
Other current assets 3,691 2,121
Total current assets $ 60,384 $ 58,409
Fixed assets:
Net fixed assets $ 114,998 $ 114,358
Other long-term assets 30,220 27,138
Total assets $ 205,602 $ 199,905
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 46,272 $ 41,613
Other current liabilities 32,609 25,675
Total current liabilities $ 78,881 $ 67,288
Long-term debt 37,005 42,198
Other long-term liabilities 11,487 12,261
Total liabilities $ 127,373 $ 121,747
Total shareholders' equity 78,229 78,158
Total liabilities and shareholders equity $ 205,602 $ 199,905
Income Statement (figures in $ millions)
Net sales $ 500,523 $ 486,053
Cost of goods sold 373,576 361,436
Selling, general, and administrative expenses 96,161 91,953
Depreciation 10,709 10,260
Earnings before interest and taxes (EBIT) $ 20,077 $ 22,404
Interest expense 2,358 2,447
Taxable income $ 17,719 $ 19,957
Tax 4,600 6,985
Net income $ 13,119 $ 12,972
Dividends 6,304 6,875
Addition to retained earnings $ 6,815 $ 6,097

Assume a tax rate of 35%. Calculate the following using balance-sheet figures from the start of the year and Income statement figures from the end of the year:

a. Calculate the return on assets. (Enter your answer as a percent rounded to 2 decimal places.)

b. Calculate the operating profit margin. (Enter your answer as a percent rounded to 2 decimal places.)

c. Calculate the sales-to-assets ratio. (Round your answer to 2 decimal places.)

d. Calculate the inventory turnover. (Round your answer to 2 decimal places.)

e. Calculate the debt-equity ratio. (Round your answer to 4 decimal places.)

f. Calculate the current ratio. (Round your answer to 3 decimal places.)

g. Calculate the quick ratio. (Round your answer to 4 decimal places.)

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