Presented below are summary financial data from the Bristol-Myers Squibb annual report. Using the ratio definitions from Exhibit 4.6, calculate the following ratios for Year 1 and Year 2.

(amounts in millions)	Year 1	Year 2
Balance sheet
Total assets	$30,435	$28,138
Shareholders’ equity	10,202	11,208
Income statement
Net sales	$19,380	$19,207
Net income	2,388	3,000

Round all answers to two decimal places.

	Year 1		Year 2
a. Return on equity	Answer	%	Answer	%
b. Return on assets (levered)	Answer	%	Answer	%
c. Return on sales (levered)	Answer	%	Answer	%
d. Total asset turnover	Answer		Answer
e. Financial leverage	Answer		Answer

Answer rating: 100% (QA)

Year 1 a Return on equity Return on equity Net incomeShareholders equity Return on equity 238810202 ... View the full answer