Selected financial data regarding current assets and current liabilities for Queen’s Line, a competitor in the cruise line industry, is provided:($ in millions)Current assets:  Cash and cash equivalents  $ 331  Current investments                63  Net receivables                      230  Inventory                               116  Other current assets              135Total current assets               $ 875  Current liabilities:  Accounts payable              $1,025  Short-term debt                    694  Other current liabilities         919    Total current liabilities    $2,638Required:1. Calculate the current ratio and the acid-test ratio for Queen’s Line.

E10.18 (LO 5), AN Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). 3M CompanyBalance Sheets (partial)   2022 2021 Current assets     Cash and cash equivalents $ 3,040 $1,849 Accounts receivable, net 3,250 3,195 Inventories 2,639 3,013 Other current assets 1,866 1,541 Total current assets $10,795 $9,598 Current liabilities $ 4,897 $5,839 Instructions Calculate the current ratio and working capital for 3M for 2021 and 2022. Suppose that at the end of 2022, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratio and working capital have changed?

Assume the following information (numbers in millions). Note: You can copy this table directly into Excel. Data Item EBIT ($) 2022 2023 13831 8891 -1082 Interest Expense ($) 113 Operating Assets ($) 34985 36920 Operating Liabilities 25,365 25703 ($) Net Fixed Assets ($) 41421 57002 Debt ($) 6942 10548 Tax Rate (%) 8.3% -50.1% What is free cash flow to equity in 2023? IMPORTANT! It will be very easy to goof up this problem given the negative interest expense and negative tax rate. Remember, if you subtract a negative this turns it into a positive. Hint: It will be so amazingly useful to remember the FCFE extra credit problem. To help, please note that the answer ranges between 1.300 and 2,100.

($ in 000s) Cash and cash equivalents $247,286 Short-term investments 362,700 Accounts receivable 513,944 Inventory 468,738 Prepaid expenses (current) 92,259 Total current assets 1,684,927 Long-term receivables 119,800 Equipment (net)   Total assets   Notes payable (current) 40,116 Accounts payable 41,072 Accrued liabilities 430,772 Other current liabilities 190,604 Total current liabilities 702,564 Long-term debt 343,576 Total liabilities 1,046,140 Common stock 460,627 Retained earnings 1,000,000   1. Find Equipment (net) 2. Find Total Assests

Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows:                                           ACME Corporation       Wayne EnterprisesCurrent assets:Cash and cash equivalents         $ 2,494                           $ 541Current investments                                                            125Net receivables                             1,395                              217Inventory                                     10,710                            8,600Other current assets                        773                               301Total current assets                     $15,372                          $9,784Current liabilitiesCurrent debt                               $ 1,321                              $ 47Accounts payable                           8,871                            5,327Other current liabilities                  1,270                            2,334Total current…

ework i Saved Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, provided: ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets 499 86 275 100 127 Total current assets $1,087 Current liabilities: Accounts payable $1,005 Short-term debt 654 Other current liabilities 959 Total current liabilities $2,618 Required: 1. Calculate the current ratio and the acid-test ratio for Queen's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.) Current Ratio %3D Acid-Test Ratio %24

Take a look at this balance sheet and income statement: Balance Sheet (all numbers are in $ millions unless stated otherwise) Current Assets                                 Current Liabilities Cash                       98                     Accounts Payable           344 A/C Receivable     188                     Notes Payable                 196 Inventory              422                      Total                     708                     Total                                 540   Fixed Assets                                    Long-Term Liabilities Net PPE                2880                    Long-Term Debt           457                                    Common Stock and Paid-In Surplus    550                                                        Retained Earnings          2041  Total Assets    3588           Total Liabilities + Net Worth  3588    Income Statement (all numbers are in $ million unless stated otherwise) Sales…

Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANYBalance SheetsDecember 31     2022   2021 Cash   $ 16,350   $ 32,700 Accounts receivable (net)   76,300   65,400 Inventory   65,400   54,500 Plant assets (net)   218,000   196,200     $376,050   $348,800 Accounts payable   $ 54,500   $ 65,400 Mortgage payable (15%)   109,000   109,000 Common stock, $10 par   152,600   130,800 Retained earnings   59,950   43,600     $376,050   $348,800 Additional information for 2022: 1.   Net income was $34,000. 2.   Sales on account were $383,300. Sales returns and allowances amounted to $26,600. 3.   Cost of goods sold was $200,600. 4.   Net cash provided by operating activities was $59,000. 5.   Capital expenditures were $26,400, and cash dividends were $16,500. (d)   Inventory turnover.   enter inventory turnover in times rounded to 2 decimal places  times (e)…

Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANYBalance SheetsDecember 31     2022   2021 Cash   $ 16,350   $ 32,700 Accounts receivable (net)   76,300   65,400 Inventory   65,400   54,500 Plant assets (net)   218,000   196,200     $376,050   $348,800 Accounts payable   $ 54,500   $ 65,400 Mortgage payable (15%)   109,000   109,000 Common stock, $10 par   152,600   130,800 Retained earnings   59,950   43,600     $376,050   $348,800 Additional information for 2022: 1.   Net income was $34,000. 2.   Sales on account were $383,300. Sales returns and allowances amounted to $26,600. 3.   Cost of goods sold was $200,600. 4.   Net cash provided by operating activities was $59,000. 5.   Capital expenditures were $26,400, and cash dividends were $16,500. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal…