a. Calculate interest coverage for 2013 and 2014. Use EBITDA , not OCA, in the numerator. b. How much did the company spend on PPE in 2014. c. Was inventory a source or use of cash in 2014?d. Based solely on the balance sheet, what conclusions can you draw regarding the market value of this company?

(millions, except per share data) 2014 2013 Sales 2012 72,618 $ Credit card revenues 71,279 $ 71,960 1,341 Total revenues 72,618 71,279 Cost of sales 73,301 51,278 50,039 Selling, general and administrative expenses 50,568 14,676 Credit card expenses 14,465 14,643 Depreciation and amortization 467 2,129 1,996 Gain on receivables transaction 2,044 (391) (161) Earnings from continuing operations before interest expense and income taxes 4,535 Net interest expense 5,170 5,740 882 1,049 684 Earnings from continuing operations before income taxes Provision for income taxes 3,653 4,121 5,056 1,204 1,427 1,741 Net earnings from continuing operations Discontinued operations, net of tax 2,449 2,694 3,315 Net (loss)/earnings (4,085) (723) (316) (1,636) $ 1,971 $ 2,999 Basic (loss)/earnings per share Continuing operations Discontinued operations 3.86. $ 4.24 $ 5.05 (6.44) (1.14) (0.48) Net (loss )earnings per share (2.58) $ 3.10 $ 4.57 Diluted (loss)/earnings per share Continuing operations Discontinued operations 3.83 $ 4.20 $ 5.00 (6.38) Net (loss )eamings per share (1.13) (0.48) $ (2.56) $ 3.07 $ 4.52 Weighted average common shares outstanding Basic 634.7 635.1 Dilutive effect of share-based awards 656.7 5.4 6.7 Diluted 6.6 640.1 641.8 663.3 Antidilutive shares 3.3 2.3 5.0