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Balance Sheet (figures in $ millions) End of Start of Year Year Assets Current assets: Cash and marketable securities $ 6,766 $ 6,877 Accounts receivable

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Balance Sheet (figures in $ millions) End of Start of Year Year Assets Current assets: Cash and marketable securities $ 6,766 $ 6,877 Accounts receivable 5,624 5,845 Inventories 43,793 43, 056 Other current assets 3,521 1,951 Total current assets $ 59,704 $ 57,729 Fixed assets: Net fixed assets $114,828 $114, 188 Other long-term assets 30,050 26,968 Total assets $204,582 $198,885 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 46,102 $ 41, 443 Other current liabilities 32,439 25,505 Total current liabilities $ 78,541 $ 66, 948 Long-term debt 36,835 42,028 Other long-term liabilities 11, 317 12,091 Total liabilities $126,693 $121,067 Total shareholders' equity 77,889 77,818 Total liabilities and shareholders' equity $204,582 $198,885 Income Statement (figures in $ millions) Net sales $500, 353 $485, 883 Cost of goods sold 373,406 361, 266 Selling, general, and administrative expenses 95, 991 91,783 Depreciation 10,539 10,090 Earnings before interest and taxes (EBIT) $ 20,417 $ 22, 744 Interest expense 2,188 2,277 Taxable income $ 18, 229 $ 20,467 Tax 4,600 7,163 Net income $ 13,629 $ 13,304 Dividends 6,134 6,705 Addition to retained earnings $ 7,495 $ 6,599 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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