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Medtronics is a world leader in medical technology. The following selected data are adapted from a recent annual report (dollar amounts are stated in millions).
Medtronics is a world leader in medical technology. The following selected data are adapted from a recent annual report (dollar amounts are stated in millions).
Beginning of the Year | End of the Year | |
Total current assets | $9,150 | $9,515 |
Total current liabilities | 4,726 | 5,857 |
Total assets | 30,675 | 33,083 |
Total stockholders' equity | 15,968 | 17,113 |
Operating income | 4,145 | |
Net income | 3,617 |
1. Compute the current ratio at the beginning of the period (carry to two decimal places).
2. Compute the current ratio at the end of the period (carry to two decimal places).
3. Compute the working capital at the beginning of the year.
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