Use the exhibits in the 2nd, 3rd and 4th image to answer question 1 and 2 in detail in the 1st image.

Name: Date ACCT 424-Exam 2 Fall 2017 1. Refer to the exhibits for problem P4-29 (pages 4-43 through 4-45 in the book). The exhibits are financial statements for Lockheed Martin and 2015. Corporation for years ending 2016 The exhibits provided are as follows: Consolidated Statement of Earnings Consolidated Balance Sheet Consolidated Statement of Cash Flows - - - Complete the following items: a) For both 2015 and 2016 compute the current ratio and guick ratio. In 2-4 sentences explain and interpret your findings/trends. b) For both 2015 and 2016 compute the total liabilitie-to-equity ratios and total debt-to-equity ratios. In 2-4 sentences explain any trends you observe. c) For both 2015 and 2016 compute times interest earned ratios, cash from operations to total debt ratios, and free operating cash flow to total debt ratios In 2-4 sentences explain any trends you observe. Do you have any concerns with the company's ability to meet its debt obligation? 2. Use the same exhibits for problem P4-22 (pages 4-43 through 4-45) to complete this rematios m ihion aeasiatien esns fer problem. In addition to the exhibits, information in the financial statements and footnotes also reveal that amortization for 2016 was $468 million, depreciation expense for 2016 was $747 million, and noncurrent deferred tax liabilities for 2016 were S1.142 a) Compute the following Moody's metries for Lockheed Martin for 2016 only 1) EBITA to average assets 2) Operating margin 3) EBITA margin 4) EBITA interest coverage 5) Debt to EBITA 6) Debt to book capitalization 7) Retained cash flow to net debt d) Use the Moody metrics calculated above, along with the measures in exhibit 4.7 (page 4-29), to estimate a credit rating for Lockheed Martin