Question
Selected balance sheet and income statement information from Verizon Communications Inc. follows. $ millions 2018 2017 Current assets $34,636 $29,913 Current liabilities 37,930 33,037 Total
Selected balance sheet and income statement information from Verizon Communications Inc. follows.
| $ millions | 2018 | 2017 |
|---|---|---|
| Current assets | $34,636 | $29,913 |
| Current liabilities | 37,930 | 33,037 |
| Total liabilities | 382,308 | 391,875 |
| Equity | 54,710 | 44,687 |
| Earnings before interest and taxes | 22,278 | 27,425 |
| Interest expense, gross | 4,833 | 4,733 |
| Net cash flow from operating activities | 34,339 | 24,318 |
Considering only the information above as well as your knowledge of solvency, did Verizon's solvency improve or deteriorate during 2018? Why?
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Auditing Basics
Authors: 3G E-Learning
1st Edition
1984624261, 978-1984624260
