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Corporate Finace 8 edition please help

Find the most recent Annual reports for wall-mart .com and boeing.com. Using the annual numbers please calculate 6 asset utilizations for these two companies.

1.Inventory =cost of goods sold/ Inventory

2. Days Sales in inventory= 365 days/ Inventory turn over

3. Receivable turnover= sales/ Accounts receivable

4. Day's sales in receivables= 365days/ receivables turnover

5. Total Assets turnover=sales/total assets

6. Capital Intensity= total assets/sales

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Jean Keeling
Jean KeelingLv2
28 Sep 2019

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Related questions

1.) Personal After-Tax

Corporate bonds issued by Johnson Corporation currently yield 8%. Municipal bonds of equal risk currently yield 6%. At what tax rate would an investor be indifferent between these two bonds?

2) Balance Sheet Analysis

Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data:

Total assets turnover: 1.5

Gross profit margin on sales: (Sales - Cost of goods sold) / Sales = 25%

Total liabilities-to-assets ratio: 40%

Quick ratio: 0.80

Days sales outstanding (based on 365-day year): 36.5 days

Inventory turnover ratio: 3.75

Partial Income Statement

Information

Sales __________

Cost of goods sold __________

Balance Sheet

Cash __________ Accounts payable ___________

Accounts receivable __________ Long-term debt 50,000

Inventories __________ Common Stock ___________

Fixed Assets __________ Retained earnings ___________

Total Assets $400,000 Total liabilities and equity __________

1. Use the attached balance sheet and income statement to compute the required financial ratios for 2012. Use 360 for the number of days in a year. The computations for 2011 are already done for you.

Current ratio_________________________

Quick ratio__________________________

Inventor turnover____________________

Average Collection Period_____________

Total asset turnover__________________

Net profit margin____________________

Operating profit margin_______________

Times Interest Earned_________________

Debt/Net Worth Ratio_________________

Return on Equity ratio__________________

2. Using the computed financial ratios from question 1, compare Grounds Keeper’s performance from 2011 to 2012. Address what areas the company has improved and what areas it has not

A.)Liquidity

B.) Activity / turnover / efficiency

C.) Profitability

D.) Leverage / use of debt / solvency

3. If you were the CEO of Grounds Keeper, what area(s) would you concentrate on to improve the performance of the company?

4. Define the terms capital structure, cost of capital, and working capital. Focus on how they are different from each other and impact both profitability and risk.

5. Determine Grounds Keeper’s capital structure and working capital.

6. If Grounds Keeper has a required rate of return on its long-term debt of 9% (before taxes) and a required rate of return on its common stock, a tax rate of 40%, what is its weighted average cost of capital (WACC) for 2012? How could Grounds Keeper lower its WACC? (HINT: you will need to look at the balance sheet to determine the weight of debt to equity.

7. What are the advantages to Grounds Keeper in using money market instruments as financing? How does this related to financing net working capital?

8. Explain what Grounds Keeper should consider when deciding whether to issue stocks or bonds? Answer using at least 3 different characteristics comparing and contrasting stocks and bonds.

9. Define money market instruments; list at least one type of security that would be considered a money market instrument. What are the advantages to Grounds Keeper in using money market instruments as financing? What are the disadvantages?

Grounds Keeper

Consolidated Balance Sheets

(Dollars in thousands)

2012

2011

Assets

Current assets:

Cash and cash equivalents

78,240

44,395

Receivables

399,891

340,062

Inventories

844,737

736,677

Total current assets

1,322,868

1,121,133

Fixed assets, net

1,244,384

889,613

Other long-term assets

1,048,537

1,187,141

Total assets

3,615,789

3,197,887

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

309,222

319,465

Accruals

201,017

145,240

Notes payable

9,748

6,669

Total current liabilities

519987

471374

Long-term debt

834574

814298

Total liabilities

1,354,561

1,285,672

Stockholders’ equity:

Common stock, $0.10 par value:

15,268

15,447

Additional paid-in capital

1,464,560

1,499,616

Retained earnings

781400

397152

Total stockholders’ equity

2,261,228

1,912,215

Total liabilities and stockholders’ equity

3,615,789

3,197,887

Grounds Keeper

Consolidated Statements of Operations

(Dollars in thousands except per share data)

2012

2011

Net sales

3,889,426

2,642,390

Cost of sales

2,589,799

1,746,274

Gross profit

1,299,627

896,116

Selling and operating expenses

481,493

348,696

General and administrative expenses

219,010

187,016

Operating income

599,124

360,404

Interest expense

22,983

57,657

Income before income taxes

576,141

302,747

Income tax expense

212,641

101,699

Net Income

363,500

201,048

Basic income per share:

Average shares outstanding

154,933,948

146,214,860

Earnings per common share

2.35

1.38

Current Ratio

Current assets/

Current liabilities

Quick Ratio

Current assets – inventory/

Current liabilities

Inventory Turnover

Cost of goods sold/

Inventory

Receivables Turnover

Sales/

Accounts receivables

Average Collection Period

Receivables/

Sales per day

Fixed Asset Turnover

Sales/

Fixed assets

Total Asset Turnover

Sales/

Total Assets

Gross Profit Margin

Revenues - Cost of goods sold/

Sales

Operating Profit Margin

Earnings before interest and taxes/

Sales

Net Profit Margin

Net income/

Sales

Return on Total Assets

Net income/

Total assets

Debt/Net Worth Ratio

Total Debt/

Total Equity

Times-Interest-Earned

Operating Income/

Interest expense

Return on Equity

Net income/

Total equity

Some recent financial statements for Smolira Golf, Inc.,follow.

SMOLIRA GOLF, INC.
Balance Sheets as of December 31, 2015 and 2016
2015 2016 2015 2016
Assets Liabilities and Owners’ Equity
Current assets Current liabilities
Cash $ 3,121 $ 3,157 Accounts payable $ 2,168 $ 2,630
Accounts receivable 4,752 5,751 Notes payable 1,765 2,146
Inventory 12,538 13,752 Other 93 110
Total $ 20,411 $ 22,660 Total $ 4,026 $ 4,886
Long-term debt $ 13,100 $ 15,860
Owners’ equity
Common stock and paid-in surplus $ 39,500 $ 39,500
Fixed assets Accumulated retained earnings 15,669 39,331
Net plant and equipment $ 51,884 $ 76,917 Total $ 55,169 $ 78,831
Total assets $ 72,295 $ 99,577 Total liabilities and owners’ equity $ 72,295 $ 99,577
SMOLIRA GOLF, INC.
2016 Income Statement
Sales $ 187,970
Cost of goods sold 126,503
Depreciation 5,303
EBIT $ 56,164
Interest paid 1,400
Taxable income $ 54,764
Taxes 19,167
Net income $ 35,597
Dividends $ 11,935
Retained earnings 23,662

Find the following financial ratios for Smolira Golf (useyear-end figures rather than average values where appropriate):(Do not round intermediate calculations and round youranswers to 2 decimal places, e.g., 32.16. Enter the profitabilityratios as a percent.)

2015 2016
Short-term solvency ratios
a. Current ratio times times
b. Quick ratio times times
c. Cash ratio times times
Asset utilization ratios
d. Total asset turnover times
e. Inventory turnover times
f. Receivables turnover times
Long-term solvency ratios
g. Total debt ratio times times
h. Debt−equity ratio times times
i. Equity multiplier times times
j. Times interest earned ratio times
k. Cash coverage ratio times
Profitability ratios
l. Profit margin %
m. Return on assets %
n. Return on equity %

PLEASE DO F-N

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