Question
Balance Sheet (Millions of $)Assets 2021 Cash and securities $3,000 Accounts receivable 15,000 Inventories 18,000 Total current assets $36,000 Net plant and equipment $24,000 Total
Balance Sheet (Millions of $)Assets 2021
Cash and securities $3,000
Accounts receivable 15,000
Inventories 18,000
Total current assets $36,000
Net plant and equipment $24,000
Total assets $60,000
Liabilities and Equity Accounts payable $17,160
Accruals 9,240
Notes payable 6,000
Total current liabilities $32,400
Long-term bonds $12,000
Total liabilities $44,400
Common stock $3,900
Retained earnings 11,700
Total common equity $15,600
Total liabilities and equity $60,000
Income Statement (Millions of $)2021Net sales $66,000
Operating costs except depreciation61,380
Depreciation 1,320
Earnings before interest and taxes (EBIT) $3,300
Less interest 1,080
Earnings before taxes (EBT) $2,220
Taxes (25%) 555
Net income $1,665
Other data: Shares outstanding (millions) 500.00
Common dividends (millions of $) $582.75
Int. rate on notes payable & L-T bonds 6%
Federal plus state income tax rate 25%
Year-end stock price $39.96
Questions:
What is the firm's total assets turnover? Do not round your intermediate calculations.
What is the firm's TIE?
What is the firm's operating margin?
What is the firm's equity multiplier?
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