Answered step by step
Verified Expert Solution
Question
1 Approved Answer
WIPER, INC. Condensed Balance Sheets December 31, 2017, 2016, 2015 (in millions) 2017 2016 2015 Current assets $ 764 $ 981 $ 843 Other assets
WIPER, INC. | |||||||||
Condensed Balance Sheets | |||||||||
December 31, 2017, 2016, 2015 | |||||||||
(in millions) | |||||||||
2017 | 2016 | 2015 | |||||||
Current assets | $ | 764 | $ | 981 | $ | 843 | |||
Other assets | 2,424 | 1,931 | 1,730 | ||||||
Total assets | $ | 3,188 | $ | 2,912 | $ | 2,573 | |||
Current liabilities | $ | 588 | $ | 841 | $ | 734 | |||
Long-term liabilities | 1,582 | 1,034 | 910 | ||||||
Stockholders equity | 1,018 | 1,037 | 929 | ||||||
Total liabilities and stockholders' equity | $ | 3,188 | $ | 2,912 | $ | 2,573 | |||
WIPER, INC | ||||||
Selected Income Statement and Other Data | ||||||
For the year Ended December 31, 2017 and 2016 | ||||||
(in millions) | ||||||
2017 | 2016 | |||||
Income statement data: | ||||||
Sales | $ | 3,061 | $ | 2,924 | ||
Operating income | 307 | 321 | ||||
Interest expense | 95 | 76 | ||||
Net income | 224 | 219 | ||||
Other data: | ||||||
Average number of common shares outstanding | 42.4 | 47.8 | ||||
Total dividends paid | $ | 61.0 | $ | 53.4 | ||
Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2017 and 2016. (Round "Debt ratio" to 1 decimal place and "Debt/equity ratio" to the nearest whole percent.)
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