The 2023 financial statements of Summit Corporation contain the following selected data (in millions): Item Value (in millions) Current Assets $90 Total Assets $200 Current Liabilities $50 Total Liabilities $95 Cash $10 Interest Expense $6 Income Taxes $12 Net Income $22 What is the debt to assets ratio? a) 47.5% b) 3.10% c) 57.8% d) 6.5 times
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- Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and state mcnt of cash flows: Long-term debt S 4,400 Interest expense S 398 Total liabilities 8,972 Net income 559 Total assets 38,775 Interest payments 432 Total equity 29,803 Cash flows from operations 1.015 Operating income 1.223 Income tax expenses 266 Income taxes paid 150 Required: Calculate the following ratios for Rising Stars: (a) debt to equity, (b) debt to total assets, (c) long-term debt to equity, (d) times interest earned (accrual basis), and (e) times interest earned (cash basis). (Note: Round answers to three decimal places.) CONCEPTUAL CONNECTION Interpret these results. 3.What does it mean if a bond is callableSuppose the Crane Ltd's 2020 financial statements contain the following selected data (in millions). Current assets Total assets Current liabilities Total liabilities NT$3,536.0 31,408.0 3,016.0 16,640.0 Compute the following values. Interest expense Income taxes Net income NT$520.0 (a) Debt to assets ratio. (Round to O decimal places, e.g. 62%.) 1,976.0 4,590.0 (b) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) % timesSuppose the 2022 Adidas financial statement contain the following selected data (in millions) current assets 4215 total assets 9000 current liabilities 4860 cash 755 interest expense 150 income tax 190 net income 275 a.working capital b.current ratio c.debt to assets ratio d.times interest earened
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- Suppose the 2020 adidas financial statements contain the following selected data (in millions). Current assets $4,510 Interest expense $170 Total assets 9,060 Income taxes 145 Current liabilities 2,200 Net income 229 Total liabilities 4,983 Cash 770 Compute the following values:Barger Corporation has the following data as of December 31, 2024: Total Stockholders' Equity Total Current Liabilities Total Current Assets $ 36,210 58,200 181,630 Other Assets Long-term Liabilities Property, Plant, and Equipment, Net Compute the debt to equity ratio at December 31, 2024. (Round your answer to two decimal places, X.XX.) = = C $? 45,600 269,640 Debt to equity ratioThe balance sheet for Shankland Corporation follows: 000'009 $ 000006 Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings 000 0000 000 00 000 009' 000 006 Total liabilities and stockholders' equity 000'00s Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio