(in millions) Select Income Statement Information Set revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory turnover ratio Current ratio Cash ratio Times interest eamed ratio Cash coverage ratio Current Year $ 4,592 2,697 1,323 112 253 414 85 708 553 548 291 66 250 477 21 142 1,400 Prior Year $ 4,356 2,569 1,262 110 244 375 89 613 432 26 565 300 45 141 422 48 105 1,341 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.)

(in millions) Select Income Statement Information Set revenue Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Net income Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents Marketable securities Accounts receivable Inventories Prepaid expense and other current assets Accounts payable Current accrued expenses Current portion of long-term debt Other current liabilities Long-term debt Receivable turnover ratio Inventory turnover ratio Current ratio Cash ratio Times interest eamed ratio Cash coverage ratio Current Year $ 4,592 2,697 1,323 112 253 414 85 708 553 548 291 66 250 477 21 142 1,400 Prior Year $ 4,356 2,569 1,262 110 244 375 89 613 432 26 565 300 45 141 422 48 105 1,341 Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.)

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.3AP

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