Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose the 2022 adidas financial statements contain the following selected data (in millions). Current assets $4,000 Interest expense $150 Total assets 8,000 Income taxes 100

Suppose the 2022 adidas financial statements contain the following selected data (in millions).

Current assets $4,000 Interest expense $150
Total assets 8,000 Income taxes 100
Current liabilities 2,500 Net income 230
Total liabilities 4,224
Cash 750

(a1) Compute the following values.

(a)

Working capital.

$enter a dollar amount in millions

millions

(b)

Current ratio. (Round to 2 decimal places, e.g. 6.25:1.)

enter current ratio rounded to 2 decimal places

:1

(c)

Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.)

enter percentages rounded to 0 decimal places

%

(d)

Times interest earned. (Round to 2 decimal places, e.g. 6.25.)

enter times interest earned rounded to 2 decimal places

times

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

Step: 3

blur-text-image

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

Funny Audit Stories Auditor Stories To Make You Laugh Out Loud

Authors: Truman Ballas

1st Edition

B097DCG5GS, 979-8524946072

More Books

Students also viewed these Accounting questions