Use the spreadsheet to calculate the companys profitability, turnover-control, and leverage and liquidity ratios for these years (see Table 2.4 in text for a list of possible ratios). What do these ratios suggest about the companys performance over this period?

Part 2 Alternative
BALANCE SHEET ($ millions)
	2006	2007	2008	2009	2010
ASSETS
Cash & Short-Term Investments	263.001	179.694	99.367	104.533	186.018
Net Receivables	19.276	17.018	24.872	40.662	16.745
Inventories	416.603	448.586	492.423	440.099	431.492
Prepaid Expenses	0.000	0.000	27.179	26.603	0.000
Other Current Assets	30.732	35.531	27.154	19.718	74.075
Total Current Assets	729.612	680.829	670.995	631.615	708.330
Gross Plant, Property & Equipment	611.957	669.340	865.084	885.981	866.005
Accumulated Depreciation	342.371	379.700	454.917	498.509	521.259
Net Plant, Property & Equipment	269.586	289.640	410.167	387.472	344.746
Intangibles	63.073	61.765	75.609	65.268	59.414
Other Assets	61.003	64.718	99.696	103.375	119.616
TOTAL ASSETS	1,123.274	1,096.952	1,256.467	1,187.730	1,232.106
LIABILITIES
Long Term Debt Due In One Year	0.000	0.000	0.000	0.000	0.000
Accounts Payable	125.064	111.213	146.713	108.800	83.052
Taxes Payable	21.086	19.676	5.590	0.019	23.936
Accrued Expenses	72.531	75.458	70.222	66.542	0.000
Other Current Liabilities	19.404	19.791	54.730	44.862	117.047
Total Current Liabilities	238.085	226.138	277.255	220.223	224.035
Long Term Debt	207.750	72.967	92.399	62.916	43.491
Deferred Taxes	24.400	12.200	4.000	2.700	0.000
Other Liabilities	25.506	31.875	66.876	59.743	62.236
TOTAL LIABILITIES	495.741	343.180	440.530	345.582	329.762
EQUITY
Common Stock	0.671	0.691	0.696	0.700	0.705
Capital Surplus	455.214	297.120	405.209	315.404	427.742
Retained Earnings	641.558	775.857	923.713	838.580	986.523
Less: Treasury Stock	269.910	308.896	413.681	412.536	412.626
TOTAL EQUITY	827.533	764.772	915.937	742.148	1,002.344
TOTAL LIABILITIES & EQUITY	1,323.274	1,107.952	1,356.467	1,087.730	1,332.106
Common Shares Outstanding	53.069	53.919	51.479	51.918	52.288
INCOME STATEMENT ($ millions, except per share)
	2006	2007	2008	2009	2010
Sales	1,924.898	1,672.064	2,000.558	1,972.418	1,809.575
Cost of Goods Sold	965.889	1,004.972	1,062.205	1,031.241	1,025.759
Gross Profit	959.009	667.092	938.353	941.177	783.816
Selling, General, & Administrative Exp.	531.839	591.767	741.405	757.073	732.722
Operating Income Before Deprec.	427.170	75.325	196.948	184.104	51.094
Depreciation, Depletion, & Amortization	61.874	61.387	80.296	90.665	86.090
Operating Profit	365.296	13.938	116.652	93.439	(34.996)
Interest Expense	5.888	9.216	5.046	4.300	0.332
Non-Operating Income/Expense	3.280	9.786	5.987	2.592	0.000
Special Items	0.000	0.000	0.000	(2.968)	3.200
Pretax Income	362.688	14.508	117.593	88.763	(32.128)
Total Income Taxes	78.000	85.000	62.552	49.919	52.364
Income Before Extraordinary
Items & Discontinued Operations	284.688	(70.492)	55.041	38.844	(84.492)
Savings Due to Common Stock Equiv.	0.000	0.000	0.000	0.000	(0.834)
Adjusted Net Income	284.688	(70.492)	55.041	38.844	(85.326)
EPS Basic from Operations	2.010	2.710	2.760	1.180	0.820
EPS Diluted from Operations	1.950	2.620	2.730	1.170	0.820
Dividends Per Share	0.000	0.200	0.230	0.280	0.280
Com Shares for Basic EPS	53.753	53.111	53.258	51.645	52.280
Com Shares for Diluted EPS	55.365	54.749	53.890	51.944	52.280

a.		2006	2007	2008
	Profitability Ratios
	Return on equity
	Return on assets
	Return on invested capital
	Profit margin
	Gross margin
	Turnover-Control Ratios
	Asset turnover
	Fixed-asset turnover
	Inventory turnover
	Collection period (days)
	Days' sales in cash
	Payables period
	Leverage and Liquidity Ratios
	Assets to equity
	Debt to assets
	Debt to equity
	Times interest earned
	Current ratio
	Acid test
b.	Comments

If you can could you please include the equations/formulas for each of the calculations so I know how to do it?