Chapter 4: Integrative Case 4.1 Starbucks, Profitability ratios: a (p. 318): Exhibit 4.43 presents profitability ratios for Starbucks for fiscals 2010 and 2011. Using the financial statement data in Exhibits 1.26 and 1.27, compute the values of these ratios for fiscal 2012. The income tax rate is 35%. For accounts receivable turnover, use only specialty revenues for the numerator, because the accounts receivable are primarily related to licensing and food service operations, not the retail operations. Use cost of sales, including occupancy costs, for the numerator of the inventory turnover, because Starbucks does not disclose separately the cost of products sold (the appropriate numerator) and occupancy costs.

1. Profit Margin for ROA:

2. Assets Turnover:

3. Return on Assets:

4. Profit Margin for ROCE:

5. Capital Structure Leverage:

6. Return on Common Shareholders Equity:

7. Cost of Sales/Operating Revenues:

8. Stores Operating Expenses/Operating Revenues:

9. Other Operating Expenses/Operating Revenues:

10. Depreciation and Amortization Expenses/Operating Revenues:

11. General and Administrative Expense/Operating Revenues

12. Restructuring Charge/Operating Revenues:

13. Income from Equity Investees/Operating Revenues:

14. Interest Revenue/Operating Revenues:

15. Income Tax Expense (excluding tax effects of interest expense)/Operating Revenues:

16. Accounts Receivable Turnover

17. Inventory Turnover:

18. Fixed Asset Turnover: