Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please provide the missing answers...Thanks Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales
Please provide the missing answers...Thanks
Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Other expenses S 13,000 3,960 4,037 2,458 Earnings before interest and taxes (EBIT) Interest expense S2,545 675 Income before tax Taxes (at 30%) S 1,870 561 Net income Dividends S 1,309 $856 BALANCE SHEET (Figures in S millions) End of Year Start of Year Assets Cash and marketable securities Receivables $ 87 S156 2,450 228 922 2,282 Other current assets 857 Total current assets Net property, plant, and equipment Other long-term assets $ 3,403 3,756 19,895 3,750 19,953 4,196 Total assets S 27,552 27,401 Liabilities and shareholders' equity Payables Short-term debt Other current liabilities $ 2,544 1,409 801 3,020 1,563 Total current liabilities Long-term debt and leases Other long-term liabilities Shareholders' equity $ 4,754 5,360 7,191 6,129 8,721 7,516 6,158 9,124 Total liabilities and shareholders' equity 27,552 27,401 Calculate the following financial ratios for Phone Corporation: (Use 365 days in a year. Do not round intermediate calculations. Round your percentage answers "Return on equity", "Return on assets", Return on capital" and "Operating profit margin" to 2 decimal places and the rest to 2 decimal places.)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