Answer Happy

The following are the income statement and the balance sheet of XYZ Corporation for 2007. XYZ Corporation Current Assets Cash Accounts Receivables Inventory Total Total Assets Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (34%) Net income Fixed Assets Net Plant and Equipment 2012 Income Statement ($ in millions) Dividend Addition to retained earnings Calculate the following ration 1. Current Ratio 2 Quick Ratio 3. Inventory Turnover 4. Assets Turnover Ratio 192 368 648 5.354 46 86 XYZ Corporation Balance Sheet as of December 31. 2012 ($ in millions) Liabilities and Owner's Equity Current Liabilities Accounts Payable Note Payable Total Long-term debe Owners' equity Common Stock 3756 2453 490 813 613 200 68 132 Retained Earnings Total 6,002 Total Liabilities and Owner's Equity 144 1039 1183 20177 300 2442 6,002