Selected financial data for Bahama Bay and Caribbean Key are as follows: Required: 1. Calculate the debt
Question:
Selected financial data for Bahama Bay and Caribbean Key are as follows:
Required:
1. Calculate the debt to equity ratio for Bahama Bay and Caribbean Key for the most recent year. Which company has the higher ratio?
2. Calculate the return on assets for Bahama Bay and Caribbean Key. Which company appears more profitable?
3. Calculate the times interest earned ratio for Bahama Bay and Caribbean Key. Which company is better able to meet interest payments as they become due?
Transcribed Image Text:
($ in millions) Total assets Total liabilities Total stockholders' equity Sales revenue Interest expense Income tax expense Net income Bahama Bay 2024 $8,861 $9,560 5,724 6,606 3,137 2,954 $6,321 170 148 562 2023 Caribbean Key 2023 2024 $7,640 $7,507 2,819 2,689 4,821 4,818 $3,949 70 8 88
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