Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below is selected balance sheet and income statement information from Kerns Corporation (10 points). 2017 $ (in millions) Cash Accounts receivable Current assets Current liabilities
Below is selected balance sheet and income statement information from Kerns Corporation (10 points). 2017 $ (in millions) Cash Accounts receivable Current assets Current liabilities Long-term debt Short-term debt Total liabilities Interest expense Capital expenditures (CAPEX) Equity Cash from operations Earnings before interest and taxes $ 1,763.36 835.30 3,393.33 3,257.95 3,291.63 4,668.83 25,863.17 1,438.29 1300.50 -7,152.90 29,500.98 1,907.84 2016 1.316.73 1,197.16 3,588.56 3,485.39 6,910.81 1,133.96 22,928.42 1,666.90 1600.48 4,687.67 12,100.89 1,634.84 Compute the following ratios for 2016 and 2017 Total debt to equity (2 points) Quick ratio (2 points) Times interest earned (2 points) Free operating Cash flow to total debt (2 points) Current ratio (2 points)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started