IBM Income Stement
Column1	Column2	Column3	Column4	Column5	Column6
Breakdown	TTM	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Total Revenue	59,680,000	57,351,000	73,621,000	77,147,000	79,590,000
Cost of Revenue	27,446,000	25,865,000	38,046,000	40,659,000	42,655,000
Gross Profit	32,232,000	31,486,000	35,575,000	36,488,000	36,936,000
Operating Expenses
Research Development	6,583,000	6,488,000	6,333,000	5,989,000	5,379,000
Selling General and Administrative	17,535,000	17,699,000	21,850,000	19,754,000	18,863,000
Total Operating Expenses	24,645,000	24,654,000	28,680,000	25,857,000	23,651,000
Operating Income or Loss	7,587,000	6,832,000	6,895,000	10,631,000	13,285,000
Interest Expense	1,201,000	1,155,000	1,288,000	1,344,000	723,000
Total Other Income/Expenses Net	-432,000	-890,000	-1,074,000	529,000	-1,482,000
Income Before Tax	6,027,000	4,837,000	4,637,000	10,166,000	11,342,000
Income Tax Expense	400,000	124,000	-864,000	731,000	2,619,000
Income from Continuing Operations	5,626,000	4,712,000	5,501,000	9,435,000	8,723,000
Net Income	5,587,000	5,742,000	5,590,000	9,431,000	8,728,000
Net Income available to common shareholders	5,588,000	5,743,000	5,590,000	9,431,000	8,728,000
Basic EPS	-	6.41	6.28	10.63	9.57
Diluted EPS	-	6.35	6.23	10.56	9.52
Basic Average Shares	-	896,000	890,300	887,200	912,000
Diluted Average Shares	-	904,600	896,600	892,800	916,300
EBITDA	-	12,409,000	12,620,000	17,569,000	16,545,000

IBM Balance Sheet
Column1	Column2	Column3	Column4	Column5
Breakdown	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Assets
Current Assets
Cash
Cash And Cash Equivalents	6,650,000	13,212,000	8,172,000	11,379,000
Other Short Term Investments	600,000	600,000	696,000	618,000
Total Cash	7,250,000	13,812,000	8,868,000	11,997,000
Net Receivables	6,754,000	7,132,000	7,870,000	7,432,000
Inventory	1,649,000	1,839,000	1,619,000	1,682,000
Other Current Assets	-	-	-	1,000
Total Current Assets	29,539,000	39,165,000	38,420,000	49,146,000
Non-current assets
Property, plant and equipment
Gross property, plant and equipment	23,306,000	37,862,000	37,023,000	32,461,000
Accumulated Depreciation	-14,391,000	-23,136,000	-22,018,000	-21,668,000
Net property, plant and equipment	8,915,000	14,726,000	15,005,000	10,793,000
Equity and other investments	206,000	226,000	222,000	226,000
Goodwill	55,643,000	59,617,000	58,222,000	36,265,000
Intangible Assets	12,511,000	13,795,000	15,236,000	3,088,000
Other long-term assets	237,000	227,000	321,000	296,000
Total non-current assets	102,460,000	116,805,000	113,766,000	74,237,000
Total Assets	132,001,000	155,971,000	152,186,000	123,382,000
Liabilities and stockholders' equity	6,786,000	7,183,000	8,797,000	10,207,000
Liabilities
Current Liabilities
Current Debt
Accounts Payable	3,955,000	4,908,000	4,896,000	6,558,000
Accrued liabilities	3,892,000	6,847,000	4,357,000	3,941,000
Deferred revenues	12,518,000	12,833,000	12,026,000	11,165,000
Other Current Liabilities	1,000	10,287,000	7,763,000	7,251,000
Total Current Liabilities	33,619,000	39,869,000	37,701,000	38,227,000
Non-current liabilities
Long Term Debt	44,917,000	54,355,000	54,102,000	35,605,000
Deferred taxes liabilities	3,956,000	5,472,000	5,230,000	3,696,000
Deferred revenues	3,577,000	4,301,000	3,851,000	3,445,000
Other long-term liabilities	1,295,000	1,376,000	1,238,000	1,718,000
Total non-current liabilities	79,386,000	95,376,000	93,500,000	68,225,000
Total Liabilities	113,005,000	135,245,000	131,201,000	106,452,000
Stockholders' Equity
Common Stock	57,319,000	56,556,000	55,895,000	55,151,000
Retained Earnings	154,209,000	162,717,000	162,954,000	159,206,000
Accumulated other comprehensive income	-23,234,000	-29,337,000	-28,597,000	-29,490,000
Total stockholders' equity	18,901,000	20,597,000	20,841,000	16,796,000
Total liabilities and stockholders' equity	132,001,000	155,971,000	152,186,000	123,382,000

IBM Cash Flow
Column1	Column2	Column3	Column4	Column5	Column6
Breakdown	TTM	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Cash flows from operating activities
Net Income	5,587,000	5,742,000	5,590,000	9,431,000	8,728,000
Depreciation & amortization	5,567,000	6,417,000	6,695,000	6,059,000	4,480,000
Deferred income taxes	-	-2,001,000	-3,203,000	-1,527,000	853,000
Stock based compensation	1,013,000	982,000	937,000	679,000	510,000
Change in working capital	-78,000	1,962,000	8,249,000	1,225,000	554,000
Accounts receivable	-	3,907,000	4,349,000	491,000	-345,000
Inventory	-	138,000	-209,000	67,000	-127,000
Accounts Payable	-	85,000	138,000	-503,000	126,000
Other working capital	7,530,000	10,028,000	14,967,000	11,863,000	11,283,000
Other non-cash items	-	1,000	-1,000	-1,000	-1,000
Net cash provided by operating activites	9,826,000	12,796,000	18,197,000	14,770,000	15,247,000
Cash flows from investing activities
Investments in property, plant and equipment	-2,296,000	-2,768,000	-3,230,000	-2,907,000	-3,964,000
Acquisitions, net	-1,360,000	-3,293,000	-336,000	-32,630,000	-139,000
Purchases of investments	-4,007,000	-3,561,000	-6,246,000	-3,693,000	-7,041,000
Sales/Maturities of investments	3,546,000	3,147,000	5,618,000	3,961,000	6,487,000
Other investing activites	-	-1,000	475,000	6,720,000	-504,000
Net cash used for investing activites	-2,490,000	-5,975,000	-3,028,000	-26,936,000	-4,913,000
Cash flows from financing activities
Debt repayment	-6,582,000	-8,597,000	-13,365,000	-12,944,000	-8,533,000
Common stock issued	-	630,000	-	-	-
Common stock repurchased	-400,000	-319,000	-302,000	-1,633,000	-4,614,000
Dividends Paid	-5,908,000	-5,869,000	-5,797,000	-5,707,000	-5,666,000
Other financing activites	931,000	949,000	92,000	98,000	112,000
Net cash used privided by (used for) financing activities	-7,260,000	-13,354,000	-9,721,000	9,043,000	-10,470,000
Net change in cash	-311,000	-6,718,000	5,361,000	-3,290,000	-630,000
Cash at beginning of period	7,565,000	13,675,000	8,314,000	11,604,000	12,234,000
Cash at end of period	7,641,000	6,957,000	13,675,000	8,314,000	11,604,000
Free Cash Flow
Operating Cash Flow	9,826,000	12,796,000	18,197,000	14,770,000	15,247,000
Capital Expenditure	-2,296,000	-2,768,000	-3,230,000	-2,907,000	-3,964,000
Free Cash Flow	7,530,000	10,028,000	14,967,000	11,863,000	11,283,000

IBM Ratio Analysis
Ratio	IBM 2021	IBM 2020	IBM 2019	IBM 2018
A) Profitability
Profit Margin	9%	10%	8%	12%
Return on assets	20%	22%	15%	23%
Return on equity	30%	28%	27%	56%
B) Asset Utilization
Receivable turnover
Average collection period
Inventory turnover
Total asset turnover
C)Liquidity
Current ratio
Quick ratio
Debt Utilization
Debt to total assets
Times interest earned
Fixed Charge Coverage
*fixed charge coverage includes leases if no leases

Question: This is 3 years of B/S, And I/S data from Yahoo Finance downloaded into excel. Clean up the financial statements and calculate the following ratios:

1. 3 Profitability RATIOS
2. 3 Asset Utilization RATIOS
3. 2 Liquidity Ratios
4. 3 Debt Ratios for all 3 years.