Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented here are summarized data from the balance sheets and income statements of Wiper, Inc.: WIPER, INC Condensed Balance Sheets December 31, 2017, 2016, 2015

image text in transcribedimage text in transcribed

Presented here are summarized data from the balance sheets and income statements of Wiper, Inc.: WIPER, INC Condensed Balance Sheets December 31, 2017, 2016, 2015 in millons) 2016 2015 Current assets Other assets Total assets Current liabilities Long-term liabiities Stockholders equity Total liabilities and stockholders equity $ 685 $ 917 773 $3,102 $2,841 $2,496 581 $ 816 714 1011 1,030 92 2,417 1924 $3,102 $2,841 $2,496 WIPER, INC Selected Income Statement and Other Data For the year Ended December 31, 2017 and 2016 (in millions) 2017 2016 Income statement data: Sales Operating income Interest expense Net income $3,054 $2,917 314 69 198 203 Other data Average number of ocmmon shares outstanding Total dividends paid 41.7 47.1 54.0 S 527 Required: a. Calculate retun on investment, based on net income and average total assets, for 2017 and 2016. (Do not round intermediate calculations. Round your answers to 1 decimal place.) 2017 2016 Return on b. Calculate return on equity for 2017 and 2016. (Round your answers to 1 decimal place.) 2017 2016 Relurn on c. Calculate working capital and the current ratio for each of the past three years. (Enter your answers in millions (i.e., 5,000,000 should be entered as 5). Round "Current ratio" to 1 decimal place.) 2017 16 2015 Working capital Current ratio d. Calculate earnings per share for 2017 and 2016. (Round your answers to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Agile Auditing Transforming The Internal Audit Process

Authors: Rick A. Wright Jr. CIA

1st Edition

1634540689, 978-1634540681

More Books

Students also viewed these Accounting questions

Question

Identify examples of loaded language and ambiguous language.

Answered: 1 week ago