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CONSOLIDATED BALANCE SHEETS (in millions, except par value amounts) ASSETS CURRENT ASSETS Cash and Equivalents Marketable Securities Receivables Inventories Other Current Assets TOTAL CURRENT ASSETS PROPERTY AND EQUIPMENT, NET OTHER ASSETS TOTAL ASSETS CURRENT LIABILITIES: Accounts Payable Other Liabilities and Accrued Expenses Income Taxes Payable TOTAL CURRENT LIABILITIES NONCURRENT LIABILITIES: Long-Term Debt Other Liabilities TOTAL NONCURRENT LIABILITIES STOCKHOLDERS' EQUITY: Class A Common Stock, $0.01 par value: 150,000 shares authorized and 103,300 shares issued Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock, at Average Cost-17,662 and 16,054 at December 31, 2021 and December 31, 2020, respectively TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES AND STOCKHOLDERS' EQUITY Calculate the following for: Current Ratio Working Capital (in millions) Debt Ratio (as a percent) $ $ $ December 31, 600 23 230 690 575 1,485 2,875 1,235 5,595 $ 805 230 35 2021 1,070 2,300 115 2,415 1 503 2,438 3 (835) 11 2021 $ 2020 $ 315 42 420 840 420 2.037 3,220 474 5,731 ****** 840 315 11 1,166 1,840 420 2,260 2020 D..... 735 2,300 (6) (725) $ $ $ Trend Analysis 2020-2021 $ Change 285 (19) (190) (150) 155 (552) (345) 761 (136) (35) (85) 24 (96) 460 (305) 155 (232) 138 (110) Formulas/Links: n/a n/a n/a % Change 0.00% n/a n/a n/a Common-Size Analysis 2021 2020 (Percent of Total Assets) Formulas/Links Trend Analysis 2020-2021 $ Change % Change n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Common-Size Analysis 2021 2020 (Percent of Total Assets) n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a

CONSOLIDATED BALANCE SHEETS (in millions, except par value amounts) ASSETS CURRENT ASSETS Cash and Equivalents Marketable Securities Receivables Inventories Other Current Assets TOTAL CURRENT ASSETS PROPERTY AND EQUIPMENT, NET OTHER ASSETS TOTAL ASSETS CURRENT LIABILITIES: Accounts Payable Other Liabilities and Accrued Expenses Income Taxes Payable TOTAL CURRENT LIABILITIES NONCURRENT LIABILITIES: Long-Term Debt Other Liabilities TOTAL NONCURRENT LIABILITIES STOCKHOLDERS' EQUITY: Class A Common Stock, $0.01 par value: 150,000 shares authorized and 103,300 shares issued Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) Treasury Stock, at Average Cost-17,662 and 16,054 at December 31, 2021 and December 31, 2020, respectively TOTAL STOCKHOLDERS' EQUITY TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES AND STOCKHOLDERS' EQUITY Calculate the following for: Current Ratio Working Capital (in millions) Debt Ratio (as a percent) $ $ $ December 31, 600 23 230 690 575 1,485 2,875 1,235 5,595 $ 805 230 35 2021 1,070 2,300 115 2,415 1 503 2,438 3 (835) 11 2021 $ 2020 $ 315 42 420 840 420 2.037 3,220 474 5,731 ****** 840 315 11 1,166 1,840 420 2,260 2020 D..... 735 2,300 (6) (725) $ $ $ Trend Analysis 2020-2021 $ Change 285 (19) (190) (150) 155 (552) (345) 761 (136) (35) (85) 24 (96) 460 (305) 155 (232) 138 (110) Formulas/Links: n/a n/a n/a % Change 0.00% n/a n/a n/a Common-Size Analysis 2021 2020 (Percent of Total Assets) Formulas/Links Trend Analysis 2020-2021 $ Change % Change n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Common-Size Analysis 2021 2020 (Percent of Total Assets) n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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### Consolidated Balance Sheets **(In millions, except per value amounts)** #### ASSETS **Current Assets:** - **Cash and Equivalents:** - 2021: $600 - 2020: $315 - 2020-2021 Change: - Dollar Change: $285 - Percent Change: n/a - **Marketable Securities:** - 2021: $0 - 2020: $42 - 2020-2021 Change: - Dollar Change: $(42) - Percent Change: n/a - **Receivables:** - 2021: $230 - 2020: $420 - 2020-2021 Change: - Dollar Change: $(190) - Percent Change: n/a - **Inventories:** - 2021: $570 - 2020: $840 - 2020-2021 Change: - Dollar Change: $(150) - Percent Change: n/a - **Other Current Assets:** - 2021: $85 - 2020: $420 - 2020-2021 Change: - Dollar Change: $(335) - Percent Change: n/a - **Total Current Assets:** - 2021: $1,485 - 2020: $2,037 - 2020-2021 Change: - Dollar Change: $(552) - Percent Change: n/a **Property and Equipment, Net:** - 2021: $2,875 - 2020: $3,220 - 2020-2021 Change: - Dollar Change: $(345) - Percent Change: n/a **Other Assets:** - 2021: $1,235 - 2020: $474 - 2020-2021 Change: - Dollar Change: $761 - Percent Change: n/a **Total Assets:** - 2021: $5,595 - 2020: $5,731 - 2020-2021 Change: - Dollar Change: $(136) - Percent Change: n/a --- #### LI
Transcribed Image Text:### Consolidated Balance Sheets **(In millions, except per value amounts)** #### ASSETS **Current Assets:** - **Cash and Equivalents:** - 2021: $600 - 2020: $315 - 2020-2021 Change: - Dollar Change: $285 - Percent Change: n/a - **Marketable Securities:** - 2021: $0 - 2020: $42 - 2020-2021 Change: - Dollar Change: $(42) - Percent Change: n/a - **Receivables:** - 2021: $230 - 2020: $420 - 2020-2021 Change: - Dollar Change: $(190) - Percent Change: n/a - **Inventories:** - 2021: $570 - 2020: $840 - 2020-2021 Change: - Dollar Change: $(150) - Percent Change: n/a - **Other Current Assets:** - 2021: $85 - 2020: $420 - 2020-2021 Change: - Dollar Change: $(335) - Percent Change: n/a - **Total Current Assets:** - 2021: $1,485 - 2020: $2,037 - 2020-2021 Change: - Dollar Change: $(552) - Percent Change: n/a **Property and Equipment, Net:** - 2021: $2,875 - 2020: $3,220 - 2020-2021 Change: - Dollar Change: $(345) - Percent Change: n/a **Other Assets:** - 2021: $1,235 - 2020: $474 - 2020-2021 Change: - Dollar Change: $761 - Percent Change: n/a **Total Assets:** - 2021: $5,595 - 2020: $5,731 - 2020-2021 Change: - Dollar Change: $(136) - Percent Change: n/a --- #### LI
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