The Walt Disney Company operates several ranges of products from theme parks and resorts to broadcasting and other creative content. The following balance sheet and supplementary data are for The Walt Disney Company for 2011.
THE WALT DISNEY COMPANY Consolidated Balance Sheet For September 30, 2011($ millions)
| Assets |
|
|
|
Cash and cash equivalents
|
|
$ 3,185
|
|
Receivables
|
|
6,182
|
|
Inventories
|
|
1,595
|
|
Television costs
|
|
2,121
|
|
Other
|
|
674
|
|
|
|
Total current assets
|
|
$13,757
|
|
Film and television costs
|
|
4,357
|
|
Investments
|
|
2,435
|
|
Theme Parks, Resorts, and other property, at cost
|
|
|
|
Attractions, buildings and equipment
|
$35,515
|
|
|
Accumulated depreciation
|
(19,572)
|
|
|
|
|
15,943
|
|
Projects in process
|
|
2,625
|
|
Land
|
|
1,127
|
|
Intangible Assets, net
|
|
29,266
|
|
Other Assets
|
|
2,614
|
|
Total Assets
|
|
$72,214
|
|
Liabilities and Stockholders' Equity
|
|
|
|
Accounts Payable and other accrued liabilities
|
|
$ 6,362
|
|
Current portion of borrowings
|
|
3,055
|
|
Unearned royalties and other advances
|
|
2,671
|
|
Total current liabilities
|
|
$ 12,088
|
|
Borrowings
|
|
10,922
|
|
Deferred Income Taxes
|
|
2,866
|
|
Other long-term liabilities
|
|
6,795
|
|
Common shareholders' equity
|
|
|
|
Common shares ($.01 par value)
|
$30,296
|
|
|
Retained Earnings
|
38,375
|
|
|
Accumulated other comprehensive loss
|
(2,630)
|
|
|
Treasury shares
|
(28,656)
|
|
|
Noncontrolling interests
|
2,068
|
39,453
|
|
Total Liabilities and Stockholders' Equity
|
|
$72,124
|
1. Net income, $4,807.
2. Income before interest and taxes, $8,386.
3. Cost of goods sold, $33,112.
4. Net sales, $40,893.
5. Inventory on September 30, 2011, $1,442.
6. Total interest expense for the year, $343.
Requried
Calculate the following ratios and show your computations. For calculations normally involving averages, such as average stockholders' equity, use year-end amounts unless the necessary information is provided.
a. Current ratio.
b. Net income to average common stockholders' equity.
c. Inventory turnover.
d. Number of days' sales in accounts receivable (assume 365 days in fiscal year 2011).
e. EPS of common stock (ignore treasury stock).
f. Times interest earned ratio.
g. Equity ratio.
h. Net income to net sales.
i. Total assets turnover.
j. Acid-test ratio.