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The following table gives abbreviated balance sheets and income statements for Starbucks (figures in $ millions). Balance Sheet End of Year Start of...
The following table gives abbreviated balance sheets and income statements for Starbucks (figures in $ millions).
Balance Sheet End of Year Start of YearAssets Current assets: Cash and marketable securities1,844 3,234Accounts receivable948 839Inventories1,091 1,111Other current assets285 288Total current assets4,169 5,471Fixed assets: Net fixed assets3,519 3,201Other long-term assets3,064 2,845Total assets10,752 11,517Liabilities and Shareholders' Equity Current liabilities: Accounts payable2,244 1,940Other current liabilities795 3,438Total current liabilities3,039 5,378Long-term debt2,048 1,299Other long-term liabilities394 360Total liabilities5,481 7,037Total shareholders' equity5,272 4,480Total liabilities and shareholders' equity10,752 11,517 Income StatementNet sales16,448 Cost of goods sold6,859 Selling, general, and administrative expenses5,655 Depreciation710 Earnings before interest and taxes (EBIT)3,224 Interest expense64 Taxable income3,160 Tax1,092 Net income2,068 Dividends783 Addition to retained earnings1,285
Assume a tax rate of 35%. Calculate the following using balance-sheet figures from the start of the year:
a. Calculate the return on assets. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
Return on assets %
b. Calculate the operating profit margin. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
Operating profit margin %
c. Calculate the sales-to-assets ratio. (Round your answer to 2 decimal places.)
Sales-to-assets ratio
d. Calculate the inventory turnover. (Round your answer to 2 decimal places.)
Inventory turnover
e. Calculate the debt-equity ratio. (Round your answer to 2 decimal places.)
Debt-equity ratio
f. Calculate the current ratio. (Round your answer to 3 decimal places.)
Current ratio
g. Calculate the quick ratio. (Round your answer to 4 decimal places.)
Quick ratio
