Information from the books of Smith and
Stone follows:
Smith (in $ millions)
Cash
Marketable securities
Accounts receivable
All other current assets
Total current liabilities
Total liabilities
Total equity
Pre-tax income
Interest expense Stone
(in $ millions)
$930
$13,279
190
55
1,730
19,212
2,153
19,993
2,432
43,003
4,796
74,282
4,020
40,517
640
9,415
35
597 Complete the following:
a. Calculate the current ratio and quick ratio for both companies.
b. Which company is more liquid?
c. Calculate the times-interest-earned ratio and debt-to-equity ratio for both companies.
d. Which company is more solvent?
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