1. General Motors Corporation

INCOME STATEMENT
 (Figures in $ millions)
 Net sales: $137,500
 Cost of goods sold: $98,250
 Other expenses: $22,980
 Depreciation: $7,500
 Earnings before interest and taxes (EBIT): $8,770
 Interest expense: $1,200
 Income before tax: $7,570
 Taxes (at 35%): $2,650
 Net income: $4,920
 Dividends: $2,850

BALANCE SHEET
 (Figures in $ millions)

	End of Year	Start of Year
Assets
Cash and marketable securities	$275	$315
Receivables	$4,625	$4,150
Inventories	$1,450	$1,525
Other current assets	$1,850	$1,950
Total current assets	$8,200	$7,940
Net property, plant, and equipment	$45,850	$44,500
Other long-term assets	$10,150	$9,800
Total assets	$64,200	$62,240
Liabilities and shareholders’ equity
Payables	$3,750	$3,580
Short-term debt	$2,150	$2,450
Other current liabilities	$1,850	$1,790
Total current liabilities	$7,750	$7,820
Long-term debt and leases	$11,150	$11,250
Other long-term liabilities	$16,050	$15,900
Shareholders’ equity	$29,250	$27,270
Total liabilities and shareholders’ equity	$64,200	$62,240

Calculate the following financial ratios for General Motors Corporation: a. Return on equity (use average balance sheet figures)% b. Return on assets (use average balance sheet figures)% c. Return on capital (use average balance sheet figures)______% d. Days in inventory (use start-of-year balance sheet figures)____days e. Inventory turnover (use start-of-year balance sheet figures) f. Average collection period (use start-of-year balance sheet figures)____days g. Operating profit margin ____% h. Long-term debt ratio (use end-of-year balance sheet figures) i. Total debt ratio (use end-of-year balance sheet figures) j. Times interest earned k. Cash coverage ratio l. Current ratio (use end-of-year balance sheet figures) m. Quick ratio (use end-of-year balance sheet figures)