Question: Please correct all the x Assigning a Long-Term Debt Rating Using Financial Ratios Refer to the information below from Stryker's 2018 financial statements. Use the
Please correct all the x

Assigning a Long-Term Debt Rating Using Financial Ratios Refer to the information below from Stryker's 2018 financial statements. Use the information to answer the requirements ($ millions). Revenue $13,601 Interest expense, gross $181 Depreciation expense 306 Dividends, including to noncontrolling interest 717 Amortization expense 417 Cash and cash equivalents 3,616 Operating profit (EBIT) 2,537 Marketable securities 83 Total debt 9,859 Average assets 24,713 Cash from operating activities 2,610 CAPEX 572 Funds from operations 2,852 a. Compute the following 10 Moody's metrics for Stryker for 2018. Round all answers (except Revenue) to one decimal place (example for percentage ratios: 0.2345 = 23.5%). Ratio Debt / EBITDA EBITA to interest expense 18 x Revenue ($ millions) $ 13,601 Retained Cash Flow / Net Debt 27% x EBITA margin 24% X Operating margin 18.7% FFO / Debt 29 % X (FFO + Interest Expense)/Interest Expense 16.8 EBITA to average assets 13.2% * CAPEX / Depreciation expense 186.9 X b. Use your computations from part a, along with measures in Exhibit 4.8, to estimate the long-term debt rating for Stryker. Based on the above computations, the rating for Stryker's long-term debt would fall in the Ba-B range
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