Please use excel and show formula

P4-29. Compute and Interpret Liquidity, Solvency, and Coverage Ratios Information from the balance sheet, income statement, and statement of cash flows for Lockheed Martin Corporation follow. Refer to these financial statements to answer the requirements. 2016 2015 $40,365 6,883 47,248 $34,868 5,668 40,536 LOCKHEED MARTIN CORPORATION Consolidated Statements of Earnings Year Ended December 31 (in millions) Net sales Products Services Total net sales .. Cost of sales Products .. Services Severance charges. Other unallocated, net Total cost of sales Gross profit. ... Other income, net. Operating profit Interest expense. Other non-operating income, net. Earnings from continuing operations before income taxes Income tax expense.... Net earnings from continuing operations.... Net (loss) earnings from discontinued operations Net earnings ... (36,616) (6,040) (80) 550 (42,186) 5,062 487 5,549 (663) (31,091) (4,824) (82) (47) (36,044) 4,492 220 4,712 (443) 30 4,886 (1,133) 3,753 1,549 $ 5,302 4,299 (1,173) 3,126 479 $ 3,605 2016 2015 $ 1,837 8,202 4,670 399 LOCKHEED MARTIN CORPORATION Consolidated Balance Sheets December 31 (in millions, except par value) Assets Current assets Cash and cash equivalents.. Receivables, net.. Inventories, net.. Other current assets.. Assets of discontinued operations. Total current assets..... Property, plant, and equipment, net. Goodwill.... Intangible assets, net.. Deferred income taxes. Other noncurrent assets... Assets of discontinued operations.. Total assets. $ 1,090 7,254 4,819 441 969 15,108 5,549 10,764 4,093 6,625 5,667 14,573 5,389 10,695 4,022 6,068 5,396 3,161 $49,304 $47,806 2016 2015 $ 1,653 6,776 1,764 2,349 December 31 (in millions, except par value)-continued Liabilities and stockholders' equity Current liabilities Accounts payable... Customer advances and amounts in excess of costs incurred. Salaries, benefits, and payroll taxes... Current maturities of long-term debt Other current liabilities ...... Liabilities of discontinued operations. Total current liabilities. Long-term debt, net..... Accrued pension liabilities Other postretirement benefit liabilities Other noncurrent liabilities ...... Liabilities of discontinued operations. Total liabilities ... $ 1,745 6,703 1,707 956 1,859 948 13,918 14,305 11,807 1,070 4,902 205 12,542 14,282 13,855 862 4,659 46,200 46,207 289 303 - - Stockholders' equity Common stock, $1 par value per share. Additional paid-in capital .... Retained earnings..... Accumulated other comprehensive loss Total stockholders' equity...... Noncontrolling interests in subsidiary Total equity ... Total liabilities and stockholders' equity. 14,238 (11,444) 3,097 13,324 (12,102) 1,511 95 1,606 $47,806 3,097 $49,304 2016 2015 $5,302 $3,605 Consolidated Statements of Cash Flows Year Ended December 31 (in millions) Operating activities Net earnings...... Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization .... Stock-based compensation .. Deferred income taxes ... Severance charges... Gain on divestiture of IS&GS business. Gain on step acquisition of AWE Changes in assets and liabilities: Receivables, net ..... Inventories, net. Accounts payable .... Customer advances and amounts in excess of costs incurred Postretirement benefit plans..... Income taxes.. Other, net ... Net cash provided by operating activities. 1,215 149 (152) 99 (1,242) (104) 1,026 138 (445) 102 (811) (46) (188) 3 1,028 146 (210) 5,189 (256) (398) (160) (32) 1,068 (48) 501 5,101 2016 2015 (1,063) (939) (9,003) 208 78 (985) (9,734) Year Ended December 31 (in millions)-continued Investing activities Capital expenditures Acquisitions of businesses and investments in affiliates. Other, net.... Net cash used for investing activities.... Financing activities Special cash payment from divestiture of IS&GS business. ... Repurchases of common stock ...... Proceeds from stock option exercises. Dividends paid ....... Proceeds from the issuance of long-term debt. Repayments of long-term debt ...... Proceeds from borrowings under revolving credit facilities.. Repayments of borrowings under revolving credit facilities. . Other, net ..... Net cash (used for) provided by financing activities. .. Net change in cash and cash equivalents ...... Cash and cash equivalents at beginning of year. Cash and cash equivalents at end of year. .... 1,800 (2,096) 106 (2,048) (3,071) 174 (1,932) 9,101 (952) 6,000 (6,000) 5 (267) (3,457) 747 1,090 $1,837 4,277 (356) 1,446 $1,090 Required a. Compute Lockheed Martin's current ratio and quick ratio for 2015 and 2016. Comment on any ob- served trends. b. Compute total liabilities-to-equity ratios and total debt-to-equity ratios for 2015 and 2016. Comment on any trends you observe. c. Compute times interest earned ratio, cash from operations to total debt ratio, and free operating cash flow to total debt ratios for 2015 and 2016. Comment on any trends you observe. d. Summarize your findings in a conclusion about the company's credit risk. Do you have any concerns about the company's ability to meet its debt obligations