The following data were taken from the 2018 annual reports of Biogen, Inc. and Amgen Inc. Both companies are leaders in biotechnology. All dollar amounts are in millions.

Required
a. For each company, compute the debt-to-assets ratio, return-on-assets ratio, and return-on-equity ratio.
b. Which company has the greatest level of financial risk? Explain.
c. Which company appears to have managed its assets most efficiently? Explain.
d. Which company performed better from the perspective of the owners? Explain.

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Total assets Total liabilities Stockholders' equity Net income Biogen December 31, 2018 $25,889 12,857 13,032 4,474 Amgen December 31, 2018 $66,416 53,916 12,500 8,394