The Walt Disney Company operates several ranges of products from theme parks and resorts to broadcasting and other creative content. The following balance sheet and supplementary data are for The Walt Disney Company for 2000.
The Walt Disney Company Consolidated balance sheet For 2000 September 30 (USD millions)
|
Assets |
||
|
Cash and cash equivalents |
$ 842 |
|
|
Receivables |
3,599 |
|
|
Inventories |
702 |
|
|
and television costs |
1,162 |
|
|
Other |
1,258 |
|
|
Total current costs |
$7,563 |
|
|
and television costs |
5,339 |
|
|
Investments |
2,270 |
|
|
Theme parks, resorts, and other property, |
||
|
Attractions, buildings, and equipment |
$16,160 |
|
|
Accumulated depreciation |
(6,892) |
9,718 |
|
Project in process |
1,995 |
|
|
Land |
597 |
|
|
Intangibles assets, net |
16,117 |
|
|
Other assets |
1,428 |
|
|
Total assets |
$25,027 |
|
|
Liabilities and stockholders” equity |
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|
Accounts payable and accrued liabilities |
$ 5,161 |
|
|
Current portion of borrowing |
2,502 |
|
|
Unearned royalties |
739 |
|
|
Total current liabilities |
$ 8,402 |
|
|
Borrowings |
6,959 |
|
|
Deferred income taxes |
2,833 |
|
|
Other long-term liabilities |
2,377 |
|
|
Minority interest |
356 |
|
|
Common shareholders” equity |
||
|
Common shares ($.01 par value) |
$12,101 |
|
|
Retained earnings |
12,767 |
|
|
Cumulative translation and other adjustments |
(28) |
|
|
Treasury shares |
(740) |
24,100 |
|
Total liabilities and stockholders” equity |
$45,027 |
|
• Net income, USD 920.
• Income before interest and taxes, USD 3,231.
• Cost of goods sold, USD 21,321.
• Net sales, USD 25,402.
• Inventory on 1999 September 30, USD 796.
• Total interest expense for the year, USD 598.
Calculate the following ratios and show your computations. For calculations normally involving averages, such as average stockholders” equity, use year-end amounts unless the necessary information is provided.
a. Current ratio.
b. Net income to average common stockholders” equity.
c. Inventory turnover.
d. Number of days” sales in accounts receivable (assume 365 days in 2000).
e. EPS of common stock (ignore treasury stock).
f. Times interest earned ratio.
g. Equity ratio.
h. Net income to net sales.
i. Total assets turnover.
j. Acid-test ratio.