Company: IBM Corporation

Item	Amount (in millions)
Cash and Cash Equivalents	$12,800
Accounts Receivable	$8,500
Inventory	$5,600
Total Current Assets	$32,900
Property, Plant, Equipment	$18,200
Total Assets	$120,500
Accounts Payable	$9,400
Short-term Debt	$6,300
Total Current Liabilities	$26,200
Long-term Debt	$40,700
Total Liabilities	$86,900
Total Equity	$33,600

Questions:

1. Calculate IBM's current ratio.
2. Determine IBM's quick ratio (acid-test ratio).
3. What is IBM’s debt to equity ratio?
4. Compute the working capital of IBM.
5. If IBM had net sales of $77,200 million and cost of goods sold of $38,600 million, what is the inventory turnover ratio?