Analyzing Financial Statements Presented below are selected financial data from the annual report of the Bristol-Myers Squibb Company:

(amounts in millions)	Year 1	Year 2
Balance sheet
Cash and cash equivalents	$3,680	$3,050
Marketable securities	3,794	2,749
Accounts receivable (net)	4,373	3,378
Inventory	1,830	2,060
Other current assets	1,124	1,046
Total current assets	14,801	12,283
Total assets	30,435	28,138
Current liabilities	9,843	6,890
Noncurrent liabilities	10,390	10,040
Shareholders equity	10,202	11,208
Income statement
Net sales	$19,380	$19,207
Cost of goods sold	5,989	5,928
Interest expense	310	349
Net income	2,388	3,000
Net income before taxes	3,897	3,924

Required Using the ratio definitions from Exhibit 4.6, calculate the financial ratios for Bristol-Myers Squibb and determine whether the company is a good investment. Assume an effective tax rate of 30 percent. Note: Round all answers to two decimal places. Example for percentage answers: 0.234555 = 23.46%.

	Year 1		Year 2
Profitability
Return on shareholders equity (ROE)	Answer	%	Answer	%
Return on assets (ROA)-unlevered	Answer	%	Answer	%
Return on sales (ROS)-levered	Answer	%	Answer	%
Gross profit margin ratio	Answer	%	Answer	%
Asset Management
Accounts receivable turnover	Answer		Answer
Receivable collection period	Answer	days	Answer	days
Inventory turnover	Answer		Answer
Inventory-on-hand period	Answer	days	Answer	days
Total asset turnover	Answer		Answer
Liquidity
Cash and marketable securities to total assets	Answer	%	Answer	%
Quick ratio	Answer		Answer
Current ratio	Answer		Answer
Solvency
Long-term debt to total assets	Answer	%	Answer	%
Long-term debt to shareholders equity	Answer		Answer
Interest coverage ratio	Answer		Answer