Problem 2: Table 28.10 on the next page gives abbreviated balance sheets and income statements for Starbucks. Calculate the following using balance sheet figures from the start of the year. a) Return on assets. The tax rate is 34.5% b) ROE c) Assets turnover. d) Inventory turnover. e) Total Debt to Equity ratio. f) Current ratio B) Quick ratio End of Year Start of Year Balance Sheet $ 1,844 948 1,091 285 $ 4,169 $ 3,234 839 1,111 288 $ 5,471 Assets Current assets: Cash and marketable securfties Accounts receivable Inventories Other current assets Total current assets Fixed assets: Net fixed assets Other long-term assets Total assets Llabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt Other long-term liabilities Total liabilities Total shareholders' equity Total liabilities and shareholders' equity $ 3,519 3,064 $10,752 $ 3,201 2,845 $11,517 $ 2.244 795 $ 3,039 2,048 394 $ 5,481 5,272 $10,752 $ 1,940 3,438 $ 5,378 1,299 360 $ 7,037 4,480 $11,517 Income Statement Net sales Cost of goods sold Selling, general, and administrative expenses Depreciation Earnings before interest and tax (EBIT) Interest expense Taxable income $16,448 6,859 5,655 710 $ 3,224 Net Income Dividends Addition to retained earnings 16 wordsm $ 3,160 1,092 $ 2,068 783 $ 1,285