Calculate the Return on Invested Capital for Alibaba for the following three years (Assuming tax = 0% for simplicity). Use the tables found in the Consolidated Financials tables for Alibaba and submit your answer as a percentage. Note the data in the table is listed with the year ending on March 31, so if a column were titled 2011 it would correspond to a financial ratio calculation for 2010-2011. To represent a negative number instead of putting the number in parenthesis, precede with "-". Ex. Negative one should be represented as "-1" Round to 3 significant figures. 2013-14 % 2014-15 % 2015-16 % Cash Flow All numbers in thousands Period Ending 3/31/2016 3/31/2015 3/31/2014 Net Income 11,049,000 3,913,000 3,750,000 Operating Activities, Cash Flows Provided By or Used In 1,077,000 739,000 266,000 -4,516,000 1,687,000 935,000 -137,000 -214,000 Depreciation Adjustments To Net Income Changes in Accounts Receivables Changes in Liabilities Changes in Inventories 1,808,000 2,281,000 1,279,000 Changes in Other Operating Activities -603,000 -1,845,000 -1,788,000 Total Cash Flow From Operating Activities 8,788,000 6,648,000 4,242,000 Investing Activities, Cash Flows Provided By or Used In Investing Activities, Cash Flows Provided By or Used In -841,000 -769,000 -528,000 -4,831,000 -5,909,000 -4,453,000 Capital Expenditures Investments Other Cash flows from Investing Activities Total Cash Flows From Investing Activities -952,000 -1,943,000 -326,000 -6,622,000 -8,622,000 -5,307,000 Financing Activities, Cash Flows Provided By or Used In Dividends Paid -27,000 -33,000 Sale Purchase of -2,945,000 9,939,000 -517,000 Stock Net Borrowings 383,000 4,201,000 2,057,000 Other Cash Flows from Financing Total Lasn FIOWS From Financing -2,450,000 14, 113,000 1,506,000 Activities Effect Of Exchange 72,000 -18,000 -16,000 Rate Changes Change In Cash and Cash -213,000 12,121,000 426,000 Equivalents Balance Sheet 3/31/2016 3/31/2015 3/31/2014 16,724,000 17,822,000 6,105,000 1,373,000 2,872,000 1,935,000 2,116,000 2,633,000 2,228,000 752,000 20,729,000 22,922,000 10,909,000 18,686,000 7,821,000 3,327,000 All numbers in thousands Period Ending Current Assets Cash And Cash Equivalents Short Term Investments Net Receivables Inventory Other Current Assets Total Current Assets Long Term Investments Property Plant and Equipment Goodwill Intangible Assets Accumulated Amortization Other Assets Deferred Long Term Asset Charges Total Assets Current Liabilities Accounts Payable Soy LUITEN LUIS uute Cullen 2,107,000 1,474,000 898,000 12,624,000 1,275,000 6,764,000 1,561,000 1,897,000 573,000 929,000 659,000 336,000 56,350,000 41,202,000 17,940,000 TULI Lurrent 4,657,000 665,000 2,723,000 8,046,000 8,267,000 335,000 1,066,000 5,033,000 3,640,000 321,000 2,439,000 6,399,000 8,162,000 347,000 797,000 1,931,000 2,116,000 2,094,000 1,803,000 6,012,000 4,939,000 12,000 413,000 174,000 22,746,000 17,636,000 11,549,000 54,000 106,000 1,673,000 Long Term Debt Other Liabilities velemreu Lung Term Minority interest Negative Goodwill Total Liabilities Stockholders' Equity MIEL. SWS UPLOI newende Preferred Stock Common Stock Retained Earnings Treasury Stock Capital Surplus Uue WLRI TULKO! Net Tangible Assets 12,176,000 4,007,000 190,000 20,441,000 18,895,000 932,000 557,000 33,550,000 23,459,000 19,651,000 15,134,000 4,349,000 179,000 4,718,000 2,248,000 Conversion 0.15 ALIBABA GROUP HOLDING LTD ADR (BABA) Cash Flow/Flag INCOME STATEMENT Fiscal year ends in March. CNY in millions except per share data. 2012-03 2013-03 12014-03 2015-03 2016-03 Revenue 3003.75 5177.55 7875.6 11430.6 15171.45 Cost of revenue 983.1 1457.85 2005.35 3575.1 5153.25 Gross profit 2020.65 3719.7 5870.25 7855.5 10018.2 Operating expenses 0 0 0 0 0 Sales, General and administrative 790.35 975.3 1314.45 2446.95 3076.8 Other operating expenses 478.05 1131.75 817.8 1938.3 2576.1 Total operating expenses 1268.4 2107.05 2132.25 4385.25 5652.9 Operating income 752.25 1612.65 3738 3470.25 4365.3 0 o 0 o 0 Interest Expense 10.2 235.8 329.25 412.5 291.9 Other income (expense) 87.75 139.95 611.55 1791.15 8146.8 Income before income taxes 829.8 1516.8 4020.3 4848.9 12220.2 0 0 0 0 0 Provision for income taxes 126.3 218.55 479.4 962.4 1267.35 Minority interest 65.55 17.55 13.2 8.85 -25.65 Other income 61.8 16.65 -17.25 -229.65 -285.15 Net income from continuing operations 699.75 1297.35 3510.45 3648 10693.35 0 0 0 0 Other -65.55 -17.55 -13.2 -8.85 25.65 Net income 634.2 1279.8 3497.25 3639.15 10719 Preferred dividend 0 19.2 35.85 16.8 0 Net income available to common shareholders 634.2 1260.6 3461.4 3622.35 10719 0 0 0 Earnings per share 0 0 0 0 Basic 1.5435 1.5495 4.3605 Diluted 1.5 1.455 4.1835 Weighted average shares outstanding 0 0 Basic 339.9 350.55 368.7 Diluted 0 349.8 375 384.3 EBITDA 970.5 1892.85 4597.65 5923.65 13517.25 TTM 16957.8 5908.2 11049.6 0 3357.6 2778.75 6136.35 4913.25 0 314.25 4333.8 8932.8 0 1371.9 -82.8 -501.45 7142.25 0 82.8 7225.05 0 7225.05 0 0 noOOOOOO OOOO no 0 2.9505 2.8365 0 368.55 383.55 9777.3 Calculate the Return on Invested Capital for Alibaba for the following three years (Assuming tax = 0% for simplicity). Use the tables found in the Consolidated Financials tables for Alibaba and submit your answer as a percentage. Note the data in the table is listed with the year ending on March 31, so if a column were titled 2011 it would correspond to a financial ratio calculation for 2010-2011. To represent a negative number instead of putting the number in parenthesis, precede with "-". Ex. Negative one should be represented as "-1" Round to 3 significant figures. 2013-14 % 2014-15 % 2015-16 % Cash Flow All numbers in thousands Period Ending 3/31/2016 3/31/2015 3/31/2014 Net Income 11,049,000 3,913,000 3,750,000 Operating Activities, Cash Flows Provided By or Used In 1,077,000 739,000 266,000 -4,516,000 1,687,000 935,000 -137,000 -214,000 Depreciation Adjustments To Net Income Changes in Accounts Receivables Changes in Liabilities Changes in Inventories 1,808,000 2,281,000 1,279,000 Changes in Other Operating Activities -603,000 -1,845,000 -1,788,000 Total Cash Flow From Operating Activities 8,788,000 6,648,000 4,242,000 Investing Activities, Cash Flows Provided By or Used In Investing Activities, Cash Flows Provided By or Used In -841,000 -769,000 -528,000 -4,831,000 -5,909,000 -4,453,000 Capital Expenditures Investments Other Cash flows from Investing Activities Total Cash Flows From Investing Activities -952,000 -1,943,000 -326,000 -6,622,000 -8,622,000 -5,307,000 Financing Activities, Cash Flows Provided By or Used In Dividends Paid -27,000 -33,000 Sale Purchase of -2,945,000 9,939,000 -517,000 Stock Net Borrowings 383,000 4,201,000 2,057,000 Other Cash Flows from Financing Total Lasn FIOWS From Financing -2,450,000 14, 113,000 1,506,000 Activities Effect Of Exchange 72,000 -18,000 -16,000 Rate Changes Change In Cash and Cash -213,000 12,121,000 426,000 Equivalents Balance Sheet 3/31/2016 3/31/2015 3/31/2014 16,724,000 17,822,000 6,105,000 1,373,000 2,872,000 1,935,000 2,116,000 2,633,000 2,228,000 752,000 20,729,000 22,922,000 10,909,000 18,686,000 7,821,000 3,327,000 All numbers in thousands Period Ending Current Assets Cash And Cash Equivalents Short Term Investments Net Receivables Inventory Other Current Assets Total Current Assets Long Term Investments Property Plant and Equipment Goodwill Intangible Assets Accumulated Amortization Other Assets Deferred Long Term Asset Charges Total Assets Current Liabilities Accounts Payable Soy LUITEN LUIS uute Cullen 2,107,000 1,474,000 898,000 12,624,000 1,275,000 6,764,000 1,561,000 1,897,000 573,000 929,000 659,000 336,000 56,350,000 41,202,000 17,940,000 TULI Lurrent 4,657,000 665,000 2,723,000 8,046,000 8,267,000 335,000 1,066,000 5,033,000 3,640,000 321,000 2,439,000 6,399,000 8,162,000 347,000 797,000 1,931,000 2,116,000 2,094,000 1,803,000 6,012,000 4,939,000 12,000 413,000 174,000 22,746,000 17,636,000 11,549,000 54,000 106,000 1,673,000 Long Term Debt Other Liabilities velemreu Lung Term Minority interest Negative Goodwill Total Liabilities Stockholders' Equity MIEL. SWS UPLOI newende Preferred Stock Common Stock Retained Earnings Treasury Stock Capital Surplus Uue WLRI TULKO! Net Tangible Assets 12,176,000 4,007,000 190,000 20,441,000 18,895,000 932,000 557,000 33,550,000 23,459,000 19,651,000 15,134,000 4,349,000 179,000 4,718,000 2,248,000 Conversion 0.15 ALIBABA GROUP HOLDING LTD ADR (BABA) Cash Flow/Flag INCOME STATEMENT Fiscal year ends in March. CNY in millions except per share data. 2012-03 2013-03 12014-03 2015-03 2016-03 Revenue 3003.75 5177.55 7875.6 11430.6 15171.45 Cost of revenue 983.1 1457.85 2005.35 3575.1 5153.25 Gross profit 2020.65 3719.7 5870.25 7855.5 10018.2 Operating expenses 0 0 0 0 0 Sales, General and administrative 790.35 975.3 1314.45 2446.95 3076.8 Other operating expenses 478.05 1131.75 817.8 1938.3 2576.1 Total operating expenses 1268.4 2107.05 2132.25 4385.25 5652.9 Operating income 752.25 1612.65 3738 3470.25 4365.3 0 o 0 o 0 Interest Expense 10.2 235.8 329.25 412.5 291.9 Other income (expense) 87.75 139.95 611.55 1791.15 8146.8 Income before income taxes 829.8 1516.8 4020.3 4848.9 12220.2 0 0 0 0 0 Provision for income taxes 126.3 218.55 479.4 962.4 1267.35 Minority interest 65.55 17.55 13.2 8.85 -25.65 Other income 61.8 16.65 -17.25 -229.65 -285.15 Net income from continuing operations 699.75 1297.35 3510.45 3648 10693.35 0 0 0 0 Other -65.55 -17.55 -13.2 -8.85 25.65 Net income 634.2 1279.8 3497.25 3639.15 10719 Preferred dividend 0 19.2 35.85 16.8 0 Net income available to common shareholders 634.2 1260.6 3461.4 3622.35 10719 0 0 0 Earnings per share 0 0 0 0 Basic 1.5435 1.5495 4.3605 Diluted 1.5 1.455 4.1835 Weighted average shares outstanding 0 0 Basic 339.9 350.55 368.7 Diluted 0 349.8 375 384.3 EBITDA 970.5 1892.85 4597.65 5923.65 13517.25 TTM 16957.8 5908.2 11049.6 0 3357.6 2778.75 6136.35 4913.25 0 314.25 4333.8 8932.8 0 1371.9 -82.8 -501.45 7142.25 0 82.8 7225.05 0 7225.05 0 0 noOOOOOO OOOO no 0 2.9505 2.8365 0 368.55 383.55 9777.3