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You have been presented with the following selected information from the financial statements of one of Canadas largest dairy producers, Saputo Inc. (in $ millions):
You have been presented with the following selected information from the financial statements of one of Canadas largest dairy producers, Saputo Inc. (in $ millions):
2019 | 2018 | 2017 | |||||
Statement of financial position | |||||||
Accounts receivable | $1,248 | $ 945 | $ 863 | ||||
Inventory | 1,681 | 1,234 | 1,172 | ||||
Total current assets | 3,134 | 2,422 | 2,380 | ||||
Total assets | 9,886 | 8,003 | 7,597 | ||||
Current liabilities | 1,932 | 1,293 | 1,193 | ||||
Total liabilities | 4,465 | 3,205 | 3,274 | ||||
Statement of income | |||||||
Sales | $13,502 | $11,542 | $11,163 | ||||
Cost of goods sold | 9,179 | 7,961 | 7,680 | ||||
Interest expense | 67 | 34 | 37 | ||||
Income tax expense | 230 | 97 | 309 | ||||
Net income | 755 | 852 | 731 |
(a) Calculate each of the following ratios for 2019 and 2018. (Round answers to 1 decimal place, e.g. 17.5% or 6.5: 1 or $2.6.)
(in millions) | 2019 | 2018 | ||||||
1. | Current ratio | : 1 | : 1 | |||||
2. | Receivables turnover | times | times | |||||
3. | Inventory turnover | times | times | |||||
4. | Debt to total assets | % | % | |||||
5. | Times interest earned | times | times |
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