Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 10-7A You have been presented with the following selected information from the financial statements of one of Canada's largest dairy producers, Saputo Inc. (in
Problem 10-7A You have been presented with the following selected information from the financial statements of one of Canada's largest dairy producers, Saputo Inc. (in millions): 2015 2014 2013 Statement of financial position Accounts receivable $ 785 $ 807 $ 625 Inventory 1,006 933 770 Total current assets 1,962 1,896 1,513 Total assets 6,800 6,357 5,194 Current liabilities 1,179 1,725 1,227 Total liabilities 3,172 3,518 2,888 Income statement Net sales Cost of goods sold Interest expense Income tax expense Net income $10,658 $9,223 $7,298 7,688 6,518 5,136 73 69 34 237 225 186 613 534 482 (a) Calculate each of the following ratios for 2015 and 2014. (Round answers to 1 decimal place, e.g. 17.5% or 6.5: 1 or $2.6. If answer can not be derived then leave the field blank.) 2015 2014 1. Current ratio : 1 2. Receivables turnover times times 3. Inventory turnover times times 4. Debt to total assets % % 5. Times interest earned times times
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