Problem14-11
Using the information in Tables 14.1 and 14.2, compute the financial ratios we discussed in this chapter for Walgreens, using the 2010 and 2009 data.
Answers:
	Enter the answers in blue shaded cells
		Ratio (text)		2010	2009
	Current ratio	T		C	C
	Quick Ratio	T		C	C
	Average Payment Period	T		C	C
	Total Asset Turnover	T		C	C
	Fixed Asset Turnover	T		C	C
	Average Collection Period	T		C	C
	Inventory Turnover	T		C	C
	Total Debt to Total Assets	T		C	C
	Equity Multiplier	T		C	C
	Interest Coverage	T		C	C
	Operating Profit Margin	T		C	C
	Net Profit Margin	T		C	C
	Operating Return on Assets	T		C	C
	Return on Assets	T		C	C
	Return on Equity	T		C	C
	Table 14.1 Balance Sheets for Walgreens ($millions)
		2012	2011	2010	2009
	Cash & Cashe Equivalents	1,297	1,556	1,880	2,087
	Short-Term Investments	0	0	0	500
	Accounts Receivable	2,167	2,497	2,450	2,496
	Invetories	7,036	8,044	7,378	6,789
	Other Current Assets	260	225	214	177
	Total Current Assets	10,760	12,322	11,922	12,049
	Net Fixed Assets	12,038	11,526	11,184	10,802
	Other Long-term Assets	8,503	1,589	168	830
	Goodwill & intangibles	2,161	2,017	3,001	1,461
	Total Fixed Assets	22,702	15,132	14,353	13,093
	Total assets	33,462	27,454	26,275	25,142
	Accounts Payable	4,384	4,810	4,585	4,308
	Short-Term Debt	1,317	13	12	15
	Other Current Laibilities	3,019	3,260	2,836	2,446
	Total Current Liabilities	8,722	8,083	7,433	6,769
	Long-term Debt	4,073	2396	2,389	2,336
	other Liabilities	2,431	2,128	2,053	1,661
	TOTAL LIABILITITES	15,226	12,607	11,875	10,766
	Preferred Equity	0	0	0	0
	Common Equity + Retained Earnings	18,236	14,847	14,400	14,376
	STOCKHOLDERS EQUITY	18,236	14,847	14,400	14,376
	TOTAL LIABILITIS & EQUITY	33,462	27,454	26,275	25,142
	Table 14.2 Income Statements for Walgreens ($millions)
		2012	2011	2010	2009
	Revenue	71,633	72,184	67,420	63,335
	Cost of Goods Sold	50,125	51,692	47,414	44,865
	Selling, General and Administrative	16,878	16,561	15,518	14,209
	Deprecation & Amortization	1,166	0	1,030	975
	Orperting Income	3,464	3,931	3,458	3,256
	Interest Expense	88	71	85	83
	Other Expenses (Income)	0	-434	0	9
	Income Before Taxes	3,376	4,294	3,373	3,164
	Income Taxes	1,249	1,580	1,282	1,158
	Net Income	2,127	2,714	2,091	2,006
	Earnings Per Share	2.42	2.94	2.12	2.02