Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Here are simplified financial statements for Phone Corporation in 2020 : begin{tabular}{|c|c|c|} hline begin{tabular}{l} BALANCE SHEET (Figures in $ millions) end{tabular} & End of

image text in transcribed
image text in transcribed
image text in transcribed
Here are simplified financial statements for Phone Corporation in 2020 : \begin{tabular}{|c|c|c|} \hline \begin{tabular}{l} BALANCE SHEET \\ (Figures in $ millions) \end{tabular} & End of Year & Start of Year \\ \hline \multicolumn{3}{|c|}{ End of Year Start of Year } \\ \hline \begin{tabular}{l} Cash and marketable securities \\ Receivables \end{tabular} & $83 & $152 \\ \hline Receivables & 2,082 & 2,37 \\ \hline Inventories & 157 & 208 \\ \hline Other current assets & 837 & 902 \\ \hline Total current assets & $3,159 & $3,632 \\ \hline Net property, plant, and equipment & 19,913 & 19,855 \\ \hline Other long-term assets & 4,156 & 3,710 \\ \hline Total assets & $27,228 & $27,197 \\ \hline \multirow{2}{*}{\multicolumn{3}{|c|}{\begin{tabular}{l} Liabilities and shareholders' equity \\ Payables \end{tabular}}} \\ \hline & $2,504 & $2,980 \\ \hline Short-term debt & 1,389 & 1,543 \\ \hline Other current liabilities & 781 & 757 \\ \hline Total current liabilities & $4,674 & $5,280 \\ \hline Long-term debt and leases & 8,512 & 7,907 \\ \hline Other long-term liabilities & 6,118 & 6,089 \\ \hline Shareholders' equity & 7,924 & 7,921 \\ \hline Total liabilities and shareholders' equity & $27,228 & $27,197 \\ \hline \end{tabular} Calculate the following financial ratios for Phone Corporation: Note: Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: Jack Kapoor, Les R. Dlabay, Robert J. Hughes

2nd Edition

0256079056, 9780256079050

More Books

Students also viewed these Finance questions

Question

Briefly describe Kants theory of moral development.

Answered: 1 week ago