Question
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 | $ | 7,322 | $ | 7,460 | |
Total current liabilities | 3,535 | 3,147 | |||
Total assets | 22,198 | 23,661 | |||
Total stockholders' equity | 11,536 | 12,851 | |||
Operating income | 2,594 | ||||
Net income | 2,169 | ||||
The company has long-term liabilities that bear interest at annual rates ranging from 6 percent to 8 percent. |
a(1) | Compute the company's current ratio at the beginning of the year. (Round your answer to 2decimal places.) |
Beginning of the year | to |
a(2) | Compute the company's current ratio at the end of the year. (Round your answer to 2 decimal places.) |
End of the year | to |
b(1) | Compute the company's working capital at the beginning of the year. (Omit the "$" sign in your response.) |
Beginning of the year | $ |
b(2) | Compute the company's working capital at the end of the year. (Omit the "$" sign in your response.) |
End of the year | $ |
d(1) | Compute the company's return on average total assets. (Round your intermediate calculations to the nearest dollar amount and final answer to 1 decimal place. Omit the "%" sign in your response.) |
Return on average total assets | % |
d(2) | Compute the company's return on average total assets. (Round your intermediate calculations to the nearest dollar amount and final answer to 2 decimal places. Omit the "%" sign in your response.) |
Return on average stockholder's equity | % |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started