Bayer AG, best known for its line of Bayer Aspirin, is a publicly traded company with operations worldwide. It reported the following selected data (in ‚¬ millions) for the six months ended June 30, 2011:

Included in its calculation of net cash used by investing activities are ‚¬28 million of interest and dividends received and ‚¬471 of net capital expenditures. Included in its calculation of net cash used by financing activities are ‚¬1,241 million of dividend payments and ‚¬473 million of interest payments.
John Allman, controller of a private health care company, Baxter Healthcare Inc., would like to compare Baxter's cash ratios with those of Bayer's. However, he realizes that there are certain differences in the classification of activities between companies like Bayer, which uses IFRS, and companies like Baxter, which uses ASPE.
Instructions
(a) Using Bayer's data, calculate its cash current debt coverage, cash total debt coverage, and free cash flow ratios.
(b) Adjust Bayer's net cash provided (used) by operating activities, investing activities, and/or financing activities for any
IFRS/ASPE classification differences so that they are comparable with the classifications used under ASPE.
(c) Using the adjusted cash provided by operating activities data calculated in (b), recalculate Bayer's cash current debt coverage, cash total debt coverage, and free cash flow ratios.
(d) Compare and comment upon the results of your calculations in (a) and (c).

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BAYER GROUP Selected Financial Information Six Months Ended June 30, 2011 ( millions) Net cash provided by operating activities Net cash used by investing activities Net cash used by financing activities Average current liabilities Average total liabilities 2,331 (1,540) (1,759) 12,548 67,810