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(Solved): Here are simplified financial statements for Phone Corporation in \( 2020: \) BALANCE SHEET (Figu ...
Here are simplified financial statements for Phone Corporation in \( 2020: \)
BALANCE SHEET (Figures in \$ millions) End of Year Start of Year
Calculate the following financial ratios for Phone Corporation: Note: Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal places.
Expert Answer
Net Operating Profit after tax = EBIT * (1 - Tax Rate) Net Operating Profit after tax = $2,595.00 * (1 - 0.21) Net Operating Profit after tax = $2,050.05 Answer a. Average Stockholders’ Equity = ($11,524.00 + $10,321.00) / 2 Average Stockholders’ Equ