Financial Ratio Exercise
Complete this exercise after reviewing Module 3. You may refer back to that module if desired.
Place your responses in the grid below.
Dayton, Inc.
Balance Sheet as of 12/31 (Values in Millions, except EPS and Share Price)
	2012	2011
Assets
Current Assets							2012	2011
Cash and Equivalents	$ 7,229	$ 6,547		Liquidity
Receivables	21,163	19,549		Current Ratio
Inventories	8,068	7,904		Quick Ratio
Other Current Assets	1,831	1,681
Total Current Assets	$ 38,291	$ 35,681		Activity
				Inventory Turnover
Non-Current Assets				Average Collection Period
Property, Plant & Equipment, Gross	$ 204,960	$ 187,519
Accum. Depreciation & Depletion	110,020	97,917		Debt
Property, Plant & Equipment, Net	$ 94,940	$ 89,602		Debt-to-Asset Ratio
Other Non-Current Assets	19,413	17,891		Times Interest Earned
Total Non-Current Assets	$ 114,353	$ 107,493
				Profitability
Total Assets	$ 152,644	$ 143,174		Gross Profit Margin
				Net Profit Margin
Liabilities & Shareholder's Equity				Return on Assets
Current Liabilities				Return on Equity
Accounts Payable	$ 13,792	$ 22,862
Short Term Debt	4,093	3,703		Market Ratios
Other Current Liabilities	15,290	3,549		Outstanding shares			6.7 billion	6.8 billion
Total Current Liabilities	$ 33,175	$ 30,114		Share Price as of 12/31:			$ 90.00	$ 89.00
Non-Current liabilites				Earnings Per Share
Long Term Debt	$ 6,655	$ 7,099		Price/Earnings ratio
Deferred Income Taxes	16,484	16,359
Other Non-Current Liabilities	21,733	16,441
Total Non-Current Liabilities	$ 44,872	$ 39,899
Total Liabilities	$ 78,047	$ 70,013
Common Stock ($1.00 Par)	$ 6,700	$ 6,800
Retained Earnings	67,897	66,361
Total Equity	$ 74,597	$ 73,161
Total Liabilities & Stock Equity	$ 152,644	$ 143,174
Dayton, Inc.
Annual Income Statement (Values in Millions)
	2012	2011
Sales	$ 178,909	$ 187,510
Cost of Sales	99,701	111,631
Gross Operating Profit	$ 79,208	$ 75,879
Selling, General & Admin. Expense	12,356	12,900
Other Taxes	33,572	33,377
Depreciation & Amortization	12,103	7,944
Other Income, net	3,147	3,323
Earnings Before Interest and Taxes	$ 18,030	$ 18,335
Interest Expense	398	293
Earnings Before Taxes	$ 17,632	$ 18,042
Income Taxes	6,259	9,368
Net Income Available to Common	$ 11,373	$ 8,674