Question
Exxon Mobil Corporation provided the following balance sheet information as of December 31, 2023: Total Assets: $350,000,000 Total Liabilities: $180,000,000 Shareholders' Equity: $170,000,000 Cash and
- Exxon Mobil Corporation provided the following balance sheet information as of December 31, 2023:
- Total Assets: $350,000,000
- Total Liabilities: $180,000,000
- Shareholders' Equity: $170,000,000
- Cash and Cash Equivalents: $40,000,000
- Accounts Receivable: $30,000,000
- Inventory: $50,000,000
- Property, Plant, and Equipment: $200,000,000
- Long-term Debt: $60,000,000
a. Calculate Exxon Mobil Corporation's Current Ratio and Quick Ratio based on the provided data. b. Determine Exxon Mobil Corporation's Debt-to-Equity Ratio. c. Analyze the composition of Exxon Mobil Corporation's total assets and their strategic significance under the accrual basis of accounting. d. Evaluate Exxon Mobil Corporation's financial leverage based on its long-term debt and shareholders' equity. e. Discuss how Exxon Mobil Corporation's inventory turnover ratio reflects its working capital efficiency with accrual accounting adjustments.
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