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Suppose the 2017 adidas financial statements contain the following selected data (in millions). Current assets $4,340 Interest expense $170 Total assets 8,630 Income taxes 120 Current liabilities 2,730 Net income 270 Total liabilities 4,854 Cash 790 Compute the following values. (a) Working capital. 1,610 millions $4 (b) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) 1.59 :1 (c) Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) 56 % (d) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) times

Suppose the 2017 adidas financial statements contain the following selected data (in millions). Current assets $4,340 Interest expense $170 Total assets 8,630 Income taxes 120 Current liabilities 2,730 Net income 270 Total liabilities 4,854 Cash 790 Compute the following values. (a) Working capital. 1,610 millions $4 (b) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) 1.59 :1 (c) Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) 56 % (d) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) times

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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Suppose the 2017 adidas financial statements contain the following selected data (in millions). Current assets $4,340 Interest expense $170 Total assets 8,630 Income taxes 120 Current liabilities 2,730 Net income 270 Total liabilities 4,854 Cash 790 Compute the following values. (a) Working capital. 1,610 millions $4 (b) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) 1.59 :1 (c) Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) 56 % (d) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) times
Transcribed Image Text:Suppose the 2017 adidas financial statements contain the following selected data (in millions). Current assets $4,340 Interest expense $170 Total assets 8,630 Income taxes 120 Current liabilities 2,730 Net income 270 Total liabilities 4,854 Cash 790 Compute the following values. (a) Working capital. 1,610 millions $4 (b) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) 1.59 :1 (c) Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) 56 % (d) Times interest earned. (Round to 2 decimal places, e.g. 6.25.) times
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