Complete formulas 1-18 from chapter 17 Exhibit 13. Using the consolidated reports from General Motors. Use years 2018 and 2019.

Liquidity Measures Use Working Capital Current Ratio Measures the company's ability to pay carrentabilities Quick Ratio Measures the company's instant debt-paying ability Accounts Receivable Tumover Method of Computation Current Assets - Current Liabilities Current Assets Current Liabilities Quick Assets Current Liabilities Sales Average Accounts Receivable Average Accounts Receivable Average Daily Sales Cost of Merchandise Sold Average Merchandise Inventory Average Merchandise Inventory Average Daily Cost of Merchandise Sold Numbers of Days Sales in Receivables Measures the company's efficiency in collecting receivables and in the management of credit Inventory Tumover Number of Days Sales in eventory Measures the company's efficiency in managing merchandise imentory Solvency Measures Ratio of Fixed Assets to Long-Term Liabilities Ratio of Liabilities to Stockholders' Equity Fixed Assets (net) Long-Term Liabilities Total Liabilities Total Stockholders' Equity Income Before Income Tax + Interest Expense Interest Expense Measures the margin of safety wailable to long-term creditors. Measures how much of the company is financed by debt and equity Measures the risk that interest payments will not be made if earnings decrease 10 Times Interest Earned Profitability Measures Asset Turnover Measures how effectively a company uses its assets (2) Retum on Total Assets Measures the profitability of a company's assets Return on Stockholders'Equity Sales Average Total Assets Net Income + Interest Expense Average Total Assets Net Income Average Total Stockholders'Equity Net Income - Preferred Dividends Average Common Stockholders' Equity Net Income - Preferred Dividends Shares of Common Stock Outstanding Measures the profitability of the investment by stockholders Return on Common Stockholders' Equity Measures the profitability of the investment by common stockholders. Earnings per Share (EPS) on Common Stock Price-Earrings (P/) Ratio Market Price per Share of Common Stock Earnings per Share on Common Stock Measures future earnings prospects, based on the relationship between market value of common stock and earnings Measures the extent to which earnings are being distributed to common stockholders Measures the rate of return to common stockholders in terms of dividends. Dividends on Common Stock Shares of Common Stock Outstanding Dividends per Share of Common Stock Market Price per Share of Common Stock 7) Dividends per Share Dividend Yield 18 The analytical measures shown in Exhibit 13 are a useful starting point for analyzing a company's liquidity, solvency, and profitability. However, they are not a substitute for sound judgment. The general economic and business environment should always be considered in analyzing a company's future prospects. In addition, any trends and interrelationships among the measures should be studied carefully. 1. Subtract current liabilities from current assets. 2. Divide current assets by current liabilities. 3. Divide quick assets by current liabilities. Quick assets are cash, temporary investments, and receivables 4. Divide sales by average accounts receivable. Average Accounts receivable = (Beginning Net Accounts Receivable + Ending Net Accounts Receivable) = 2. 5. Divide average accounts receivable by average daily sales. Average Accounts receivable = (Beginning Net Accounts Receivable + Ending Net Accounts Receivable) + 2. Average daily sales are sales divided by 365 days. 6. Divide cost of merchandise sold by average merchandise inventory. Average Inventory = (Beginning Inventories + Ending Inventories) - 2. 7. Divide average inventory by average daily cost of merchandise sold. Average Inventory = (Beginning Inventories + Ending Inventories) - 2. Average daily cost of merchandise sold is cost of merchandise old divided by 365 days. 8. Divide property, plant, and equipment (net) by long-term liabilities. 9. Divide total liabilities by total stockholders' equity. 10. Divide the sum of income before income tax and interest expense by interest expense. 11. Divide sales by average total assets, excluding long-term investments. Average Total Assets = (Beginning Total Assets + Ending Total Assets) - 2 12. Divide the sum of net income plus interest expense by average total assets. Average Total Assets = (Beginning Total Assets + Ending Total Assets) - 2 13. Divide net income by average total stockholders' equity. Average Total Stockholders' Equity = (Beginning Total Stockholders' Equity + Ending Total Stockholders' Equity) = 2 14. Divide net income minus preferred dividends from the retained earnings statement by average common stockholders' equity. Common Stockholders' Equity = Common Stock + Retained Earnings. Average common stockholders' equity = (Beginning Common Stockholders' Equity + Ending Common Stockholders' Equity) = 2 15. Divide net income minus preferred dividends from the retained earnings statement by common shares outstanding (common stock - par value). 16. Divide common market share price by common earnings per share (use answer from requirement 15). 17. Divide common dividends (from Retained Earnings Statement) by common shares outstanding (common stock - par value). 18. Divide common dividends per share (use answer from requirement 17) by market share price. Item 8. Financial Statements and Supplementary Data CONSOLIDATED INCOME STATEMENTS (In millions, except per share amounts) Years Ended December 31, 2018 2019 2017 S S $ 122,697 14,540 137,237 133,045 14,004 147,049 133,449 12.139 145,588 120,656 110,651 12,614 8,491 12,298 116,229 11,128 9,570 9,650 136.927 Net sales and revenue Automotive GM Financial Total net sales and revenue (Note 3) Costs and expenses Automotive and other cost of sales GM Financial interest, operating and other expenses Automotive and other selling, general and administrative expense Total costs and expenses Operating income Automotive interest expense Interest income and other non-operating income, net (Note 19) Equity income (Note 8) Income before income taxes Income tax expense (Note 17) Income from continuing operations Loss from discontinued operations, net of tax (Note 22) Net Income (loss) Net loss attributable to noncontrolling interests Net income (loss) attributable to stockholders 142,604 4,445 131,756 5,481 782 1,469 1,268 655 2.596 2,163 8.549 474 8,661 575 1,645 2.132 11,863 11,533 7,436 769 6,667 8,075 330 4.212 70 6,667 8,005 (3.882) 65 9 18 6,732 S 8,014 S (3,864) $ Net income (loss) attributable to common stockholders 6.581 $ 7,916 $ (3,880) $ 4.62 $ $ Earnings per share (Note 21) Basic earnings per common share - continuing operations Basic loss per common share - discontinued operations Basic earnings (loss) per common share Weighted-average common shares outstanding - basic $ $ 5.66 0.05 5.61 $ $ 0.23 2.88 (2.65) 1,465 $ 4.62 S 1,424 1,411 $ 5.58 0.22 $ $ 0.05 5.53 $ $ s Diluted earnings per common share - continuing operations $ 4.57 Diluted loss per common share - discontinued operations $ Diluted earnings (loss) per common share S 4.57 Weighted average common shares outstanding-diluted 1,439 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) 2.82 (2.60) 1,492 1,431 Years Ended December 31, 2019 2018 6,667 $ 8,005 S 2017 (3.882) 747 Net income (loss) Other comprehensive income (loss), net of tax (Note 20) Foreign currency translation adjustments and other Defined benefit plans Other comprehensive income (loss), net of tax Comprehensive income (loss) Comprehensive loss attributable to noncontrolling interests Comprehensive income (loss) attributable to stockholders (6) (2,122) (2,128) 4,539 76 (715) (221) (936) 7,069 15 570 1,317 (2,565) 20 S 4,615 7.084 (2,545) Reference should be made to the notes to consolidated financial statements. GENERAL MOTORS COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except per share amounts) December 31, 2019 December 31, 2018 ASSETS $ $ 19,069 4,174 20.844 5,966 6,797 6,549 26,601 26,850 9,816 10,398 7,953 74,992 5,268 75,293 Current Assets Cash and cash equivalents Marketable debt securities (Note 4) Accounts and notes receivable (net of allowance of $201 and $211) GM Financial receivables, net (Note 5; Note 11 at VIES) Inventories (Note 6) Other current assets (Note 4; Note 11 at VIES) Total current assets Non-current Assets GM Financial receivables, net (Note 5; Note 11 at VIES) Equity in net assets of nonconsolidated affiliates (Note 8) Property, net (Note 9) Goodwill and intangible assets, net (Note 10) Equipment on operating leases, net (Note 7; Note 11 at VIES) Deferred income taxes (Note 17) Other assets (Note 4; Note 11 at VIES) Total non-current assets Total Assets LIABILITIES AND EQUITY 26,355 25.083 9.215 8,562 38,758 38,750 5,337 42,055 24,640 7,346 153,045 228,037 5,579 43,559 24.082 5.770 152.046 227,339 $ LIABILITIES AND EQUITY 21,018 S 22,297 935 1,897 35,503 26,487 30.956 28.049 82,237 84,905 13,028 12.489 53,435 5,935 12,170 60.032 5,370 11.538 Current Liabilities Accounts payable (principally trade) Short-term debt and current portion of long-term debt (Note 13) Automotive GM Financial (Note 11 at VIES) Accrued liabilities (Note 12) Total current liabilities Non-current Liabilities Long-term debt (Note 13) Automotive GM Financial (Note 11 at VIES) Postretirement benefits other than pensions (Note 15) Pensions (Note 15) Other liabilities (Note 12) Total non-current liabilities Total Liabilities Commitments and contingencies (Note 16) Equity (Note 20) Common stock, S0.01 par value Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total stockholders' equity Noncontrolling interests Total Equity 12,357 13,146 97,175 102.325 182,080 184,562 14 25,563 22.322 26,074 26,860 (11.156) 41.792 4,165 45,957 2007 19,039) 38,860 3.917 12.777 Power of Attorney.pdf NUNCTgueres 42,777 Total Equity Total Liabilities and Equity 45,957 228,037 s 227,339 Reference should be made to the notes to consolidated financial statements. 48 Table of Contents GENERAL MOTORS COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years Ended December 31, 2018 2019 2017 S s S Cash flows from operating activities Income from continuing operations Depreciation and impairment of Equipment on operating leases, net Depreciation, amortization and impairment charges on Property, net Foreign currency remeasurement and transaction (gains) losses Undistributed earnings of nonconsolidated affiliates, net Pension contributions and OPEB payments Pension and OPEB income, net Provision (benefit) for deferred taxes 330 6,805 5,456 52 6,667 7.332 6,736 (85) 585 (985) (484) (133) 8,075 7,604 6,065 168 (141) (2,069) (1.280) (112) (132) (1636) (934) 10.880 11e02aef 52 / 249 150% (484) (133) 1940) 10.880 (1,280) (112) (1,376) (1,678) 15.256 (3,789) (873) 15,021 (3,015) (468) 17,338 (10) 17,328 15,021 15,256 Pension and OPEB income, nel Provision (benefit) for deferred taxes Change in other operating assets and liabilities (Note 26) Other operating activities Net cash provided by operating activities - continuing operations Net cash used in operating activities - discontinued operations Net cash provided by operating activities Cash flows from investing activities Expenditures for property Available-for-sale marketable securities, acquisitions Available-for-sale marketable securities, liquidations Purchases of finance receivables, net Principal collections and recoveries on finance receivables Purchases of leased vehicles, net Proceeds from termination of leased vehicles Other investing activities Net cash used in investing activities - continuing operations Net cash provided by (used in) investing activities - discontinued operations (Note 22) Net cash used in investing activities Cash flows from financing activities Net increase (decrease) in short-term debt Proceeds from issuance of debt (original maturities greater than three months) Payments on debt (original maturities greater than three months) Payments to purchase common stock Proceeds from issuance of subsidiary preferred and common stock (Note 20) Dividends paid Other financing activities Net cash provided by financing activities - continuing operations (7,592) (4,075) 6,265 (24,538) 22,005 (16,404) 13,302 138 (10,899) (8,761) (2.820) 5,108 (25,671) 17,048 (16,736) 10,864 39 (20.929) 166 (20,763) (8,453) (5,503) 9,007 (19.325) 12,578 (19.180 6,667 137 (24,072) (3.500) (27.572) (10,899) (312) 36,937 (39,156) 1,186 43.801 (33,323) (190) 2,862 (2,242) (640) 11.454 (140) 52.187 (33,592) (4,492) 985 (2.233) (305) 457 (2,350) (253) 14.6771 12 410 Code2016. Printed General motor fin udf A Power of Attomey.pdf Show all aef 52 / 249 150% + (4,677) 11,454 Net cash provided by financing activities - continuing operations Net cash provided by financing activities - discontinued operations Net cash provided by (used in) financing activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash at beginning of period Cash, cash equivalents and restricted cash at end of period 12.410 174 12,584 348 (4,677) 2 (553) 23,496 11,454 (299) 5,648 17,848 23,496 2,688 15,160 17,848 $ 22,943 $ $ $ 22.943 $ 23,496 S 17,848 Cash, cash equivalents and restricted cash - continuing operations at end of period (Note 4) Significant Non-cash Investing and Financing Activity Non-cash property additions - continuing operations Non-cash proceeds on sale of discontinued operations (Note 22) $ 2,837 $ 3,813 $ 3,996 $ S S 808 Reference should be made to the notes to consolidated financial statements. GENERAL MOTORS COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EQUITY (In millions) Common Stock Common Stockholders Additional Paid in Retained Capital Earnings $ 26,983 $ 26,168 $ S Accumulated Other Comprehensive Noncontrolling Loss Interests $ (9,330) $ 239 (18) 1,319 (2) 15 (3,864) Total Equity 44,075 (3,882) 1,317 (4,492) 43 (1) (2,428) (2,063) 43 - 985 985 - 468 (34) 434 (2,215) Balance at January 1, 2017 Net loss Other comprehensive income Purchase of common stock Exercise of common stock warrants Issuance of subsidiary preferred stock (Note 20) Stock based compensation Cash dividends paid on common stock Dividends to noncontrolling interests Other Balance at December 31, 2017 Adoption of accounting standards Net income Other comprehensive loss Purchase of common stock IIIIIIIII!!! - (18) 13 (60) 25,371 14 1,199 17,627 (1,046) 8,014 (8,011) (98) (2,215) (18) (47) 36,200 (1.144) 8,005 (936) (190) (9) (6) (930) (91) (99) 2aef 53 / 249 150% + 2,862 287 (2,144) (169) 40 14 25,563 (30) 22,322 6,732 (9,039) Issuance of subsidiary preferred and common stock (Note 20) Stock based compensation Cash dividends paid on common stock Dividends to noncontrolling interests Other Balance at December 31, 2018 Net income Other comprehensive loss Issuance of subsidiary preferred stock (Note 20) Stock based compensation Cash dividends paid on common stock Dividends to noncontrolling interests Other Balance at December 31, 2019 , 3,917 (65) (11) 2,862 287 (2,144) (169) 6 42,777 6.667 (2,128) 457 375 (2,165) (166) 140 (2,117) 457 409 (34) (2,165) (166) 33 102 5 $ 14 $ 26,074 $ 26,860 $ (11,156) $ 4,165 $ 45,957 Reference should be made to the notes to consolidated financial statements. 50