Partial Classified Balance Sheet for Walgreens

The following items, listed alphabetically, appear on Walgreens Boots Alliance, Inc consolidated balance sheet at August 31, 2015 (in millions):

Accrued expenses and other liabilities	$5,225
Deferred income taxes (long-term)	3,538
Long-term debt	13,315
Other non-current liabilities	4,072
Short-term borrowings	1,068
Trade accounts payable	10,088
Income taxes	176

Source: Walgreens, 2015 Form 10-K.

Required:

1. Prepare the Current Liabilities and Long-Term Liabilities sections of Walgreens's classified balance sheet at August 31, 2015. Enter your answers in millions.

Walgreens
Balance Sheet (Partial)
August 31, 2015
Current Liabilities
Trade accounts payable	$
Accrued expenses and other liabilities
Income taxes
Short-term borrowings
Total current liabilities	$
Long-Term Liabilities
Deferred income taxes (long-term)	$
Long-term debt
Other noncurrent liabilities
Total long-term liabilities	$

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Consider which accounts will become due within the current year versus the longer term liabilities.

2. Walgreens had total liabilities of $16,633 and total shareholders equity of $20,561 at August 31, 2014. Total shareholders equity at August 31, 2015, amounted to $31,300. (All amounts are in millions.) Compute Walgreens debt-to-equity ratio at August 31, 2015 and 2014. Round your answers to two decimal places.

Computation of debt-to-equity ratios:
2014:
2015: