2011 and 2012 Balance Sheets (S in millions) 2011 2012 Assets Current assets Cash $ 210 215 Accounts receivable 355 310 Inventory 507 328 Total $1,072 853 Fixed assets Net plant and equipment Total assets $6,085 $7,157 $6,527 $7,380 Liabilities and Owners' Equity Current liabilities Accounts payable $ 207 $ 298 Notes payable 1,715 $1,922 $1,987 1,427 $1,725 Total Long-term debt $2,308 Owners' equity Common stock and paid-in surplus $1,000 $1,000 Retained earnings 2,248 2,347 Total $3,248 $3,347 Total liabilities and owners' equity $7,380 $7,157 PHILIPPE CORPORATION 2012 Income Statement (Sin millions) $4,053 Sales 2,780 Cost of goods sold Depreciation 550 $723 Earnings before interest and taxes 502 Interest paid Taxable income 221 75 Taxes (34%) 146 Net income $47 Dividends 99 Addition to retained earnings Based on the balance sheets and income statement: calculate the following ratios for 2012: i. 1. Current ratio Quick ratio Cash ratio 2. 3. Inventory turnover Receivables turnover 4. 5. 6. Days' sales in inventory Days' sales in receivable Total debt ratio 7 8 9. Equity multiplier Long-term debt ratio Time interest earned ratio Profit margin Return of assets Return on equity Cash coverage ratio 10. 11 12. 13. 14 15. Construct the cash flow statement