Question: Imation, a global technology company, reported the following selected items as part of its 2008 annual report (dollars in millions): REQUIRED:Compute the following ratios:1. Current

Imation, a global technology company, reported the following selected items as part of its 2008 annual report (dollars in millions):

REQUIRED:Compute the following ratios:1. Current ratio2. Quick ratio3. Receivable turnover (time and days)4. Interest coverage5. Return on assets6. Inventory turnover (times and days)7. Return onequity

2008 2007 S 97 S 140 507 Cash Accounts receivable Inventory Current assets 378 363 366 976 504 945 1,119 Current liabilities 631 1.054 Shareholders' equity S2,155 1,805 Sales Cost of gouds sold Interest expense Net loss before taxes (35) (33) Net loss

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