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The following table gives abbreviated balance sheets and income statements for Estee Lauder Companies. Suppose a corporate tax rate of 32.38%.

($ in millions)

End of Year State of Year

Balance Sheet

Assets

Current Assets:

Cash and marketable securities $1,303 $1,126
Accounts receivable 996 751
Inventories 1,001 832
Other current assets 497 433
Total Current Assets $3,797 $3,142

Fixed Assets:

Tangible fixed assets

Property, plant, and equipment 2,867 2,530
Less accumulated depreciation 1,714 1,496
Net fixed assets 1,153 1,034
Other long-term assets 1,449 1,196
Total assets $6,399 $5,372
Liabilities and Shareholders' Equity

Current liabilities:

Debt due for repayment $143 $28
Accounts payable 1,810 1,554
Total current liabilities 1,953 1,582
Long-term debt 1,085 1,210
Other long-term liabilities 626 615
Total liabilities 3,664 3,407
Total Shareholders' equity 2,735 1,965
Total liabilities and shareholders’, equity $6,399 $5,372

Income Statement:

Net Sales $8,815
Cost of goods sold 1,942
Selling, general, and administrative expenses 5,491
Depreciation 303
Earnings before interest and taxes(EBIT) 1,079
Interest expense 69
Taxable income 1,010
Tax 327
Net Income $683
Dividends 153
Addition to retained earnings  530

a.) find out the return on assets.

b.) find out the operating profit margin.

c.) find out the sales-to-assets ratio.

d.) find out the inventory turnover.

e.) find out the debit-equity ratio.

f.) find out the current ratio.

g.) find out the quick ratio.

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93472

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