25 Jun WHAT IS THE FIRMS DEBT/ASSETS RATIO?
Following information applies to the following questions. The balance sheet and income statement sho Show more Following information applies to the following questions. The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges it does not lease any assets none of its debt must be retired during the next 5 years and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets 2010 Cash and securities $1290 Accounts receivable 9890 Inventories 13760 Total current assets $24940 Net plant and equipment $18060 Total assets $43000 Liabilities and Equity Accounts payable $8170 Notes payable 6020 Accruals 4730 Total current liabilities $18920 Long-term bonds $8815 Total debt $27735 Common stock $5805 Retained earnings 9460 Total common equity $15265 Total liabilities and equity $43000 Income Statement (Millions of $) 2010 Net sales $51600 Operating costs except depreciation 48246 Depreciation 903 Earnings bef interest and taxes (EBIT) $2451 Less interest 927 Earnings before taxes (EBT) $1524 Taxes 533 Net income $990 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $346.67 Int rate on notes payable & L-T bonds 6.25% Federal plus state income tax rate 35% Year-end stock price $23.77 What is the firms debt/assets ratio? Whats the ROA? Show less
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