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Here is Marathon Oils Balance Sheet: $ Millions December 31, 2021 December 31, 2020 Current Assets Cash and Equivalents 580 742 Receivables 1,142 747 Inventories

Here is Marathon Oils Balance Sheet:

$ Millions December 31, 2021 December 31, 2020
Current Assets
Cash and Equivalents 580 742
Receivables 1,142 747
Inventories 77 76
Other current assets 22 47
Total current assets 1,821 1,612
Equity method investments 450 447
Property, plant, and equipment less 14,499 15,638

Depreciation
Other noncurrent assets 224 259
Total assets 16,994 17,956
Liabilities
Current Liabilities
Accounts payable 1,110 837
Payroll and benefits payable 74 57
Accrued taxes 157 72
Other current liabilities 260 247
Long-term Debt Due within One Year 36
Total Current Liabilities 1,637 1,213
Long-term Debt 3,978 5,404
Deferred Tax Liabilities 136 163
Defined Benefit Postretirement Plan Obligations 137 180
Asset Retirement Obligations 288 241
Deferred Credits and Other Liabilities 132 194
Total Liabilities 6,308 7,395
Stockholders Equity
Preferred Stock No share issued or outstanding
Common Stock:
Issued 937 million shares (par value $1 per share, 1.925 billion shares authorized at December 31, 2021 and December 31, 2020) 937 937
Held in Treasury, at cost 194 million shares and 148 million shares 4,825 4,098
Additional Paid-in Capital 7,221 7,174
Retained Earnings 7,271 6,466
Accumulated Other Comprehensive Income 82 73
Total Stockholders Equity 16,686 10,561
Total Liabilities and Stockholders Equity 16,994 17,956

Here is Marathon Oils Income Statement for the Year Ended December 31:

$ Millions, except per share data 2021 2020 2019
Revenues and Other Income
Revenues from Contracts with Customers 5,601 3,097 5,063
Net Gain (Loss) on Commodity Derivatives 383 116 72
Income (Loss) from Equity Method Investments 253 161 87
Net Gain (Loss) on Disposal of Assets 19 9 50
Other Income 15 25 62
Total Revenues and Other Income 5,467 3,086 5,190
Costs and Expenses:
Production 534 555 712
Shipping, Handling, and Other Operating 727 596 605
Exploration 136 181 149
Depreciation, Depletion, and Amortization 2,066 2,316 2,397
Impairments 60 144 24
Taxes Other than Income 345 200 311
General and Administrative 291 274 356
Total Costs and Expenses 4,159 4,266 4,554
Income (Loss) from Operations 1,308 1,180 636
Net Interest and Other 188 256 244
Other Net Periodic Benefit (Costs) Credits 5 1 3
Loss on Early Extinguishment of Debt 121 28 3
Income (Loss) Before Income Taxes 1,004 1,465 392
Provision (Benefit) for Income taxes 58 14 88
Net Income (Loss) 946 1,451 480

(a) What does the Quick Ratio tell you about the financial position of Marathon Oil? Show your work. (b) What does the Total Debt Ratio tell you about the financial position of Marathon Oil? How has that changed from 2020? Show your work. (c) What does the Return on Assets tell you about the financial and operational position of Marathon Oil? How has that changed from 2020 to 2021? Show your work. (d) What does the Return on Equity tell you about the financial and operational position of Marathon Oil? How has that changed from 2020 to 2021? Show your work.

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