Using the provided Excel sheet (in D2L) show the income statements, balance sheets, and cash flow statements, calculate the financial ratios for Walt Disney Co and one of its Competitor/Peer VIACOM. You must calculate the financial ratios for the most recent five full years for Walt Disney Co. and VIACOM. Show how you calculated the ratios for both companies. Tax rate is 20%. 1. Explain your findings for each ratio (Current, Quick, ROA, ROE, TIE, and others). i.e. current ratio is deteriorating. 2. Explain your findings for category of ratios (Liquidity, Debt, Asset Management and others). i.e. Overall liquidty ratios are improving and show no sign of immediate liqudity problem. 3. Which of the ratios may indicate problems? For these, explain the potential problems. i.e. Quick ratio is declining and indicate that the firm is likely to have difficulty to cover its short term cash expenses. 28 BALANCESHEET 29.29 2014-092015-092016-09 2017-092018-09 31 current assets 35 Recelvables 36 Inventories 37 Dufornd income taxes 38 Propaid expenser 39 Other current assets 40 Total current assess 41 Non-cument assets 42. Property, plant and equipment 43 Gross property, plant and equipment 44 Accumulated Depreciation 45 Net propety, plant and equipment. 46. Equity and other investments 47 Goodwill 48 intangble arsets 49. Other long-term assets 50. Total non-eurrent assets 51. Total assets \begin{tabular}{|r|r|r|r|r|} \hline 47054 & 50023 & 54198 & 57443 & 60304 \\ \hline23722 & 24844 & 26849 & 29037 & 30764 \\ \hline 23332 & 25179 & 27349 & 28406 & 29540 \\ \hline 2696 & 2643 & 4280 & 3202 & 2899 \\ \hline 27881 & 27826 & 27810 & 31426 & 31269 \\ \hline 7434 & 7172 & 6949 & 6995 & 6812 \\ \hline 7667 & 8604 & 8679 & 9871 & 11253 \\ \hline 69010 & 71424 & 75067 & 79900 & 81773 \\ \hline 84186 & 88182 & 92933 & 95789 & 98598 \\ \hline \end{tabular} 52 Liabilities and stociholden' equity. 53 Liabilities 54 Curnent liabilities 55 Shorttorm debt 56. Accounts payable 57. Accrued liabilitie 58. Defened revenues 59 Total cument liabilities 60 Non-cument liabilities 61 Longtem debt 62. Defered tares liabilities 63. Pensions and other benefits 64 Minority interest 65. Othe long-term tiabilities 66. Total non-cument liabilities 67. Total liabilites 68 Stockholdes' equity 69 Common stock 70 Retained eamings 71 Treasury stock 72 Accumulated other comprehensive income. 73. Total stociholdes' equity: 74 Total liablities and stockholden' equity 75 Statement of CASH FLOW 2014-09 2015-092016-092017-092018-09 79. Net income 80 Depreciation \& amortization 81 Deferred income taxes 82 Stock based compensation 83 Change in working capital 84 Inventory 85 Other working capital 86 Other non-cash items 87 Net cash provided by operating activities 800422885174081236811155201978088522354102410793179418810909979025271214393100318611892921321393662782334364118551180682123431306630111573393136017134375814295 88 Cash Flows From Investing Activities 93 Cash Flows From Financing Activities 94 Debt issued 95 Debt repayment 96 Common stock repurchased 97 Dividend paid \begin{tabular}{ll|r|rrr|r|} 100 & Effect of exchange rate changes & 6710 & 5514 & 6991 & 8959 & 8843 \\ 101 & Net change in cash & 235 & 302 & 123 & 31 & 25 \\ 102 & Cash at beginning of period & 510 & 848 & 341 & 696 & 91 \\ 103 & Cash at end of period & 3931 & 3421 & 4269 & 4760 & 4064 \\ 104 & Free Cash Flow & 3421 & 4269 & 4610 & 4064 & 41555 \end{tabular} 104 Free Cash Flow 105 Operating cash flow 106 Capital expenditure 107 Free cash flow 108 \begin{tabular}{|rrrrr|} \hline 2231 & 2550 & 6065 & 4820 & 1056 \\ \hline1648 & 2221 & 2205 & 2364 & 1871 \\ 6527 & 6095 & 7499 & 9368 & 3577 \\ \hline 1508 & 3063 & 2313 & 2445 & 2515 \\ 742 & 3315 & 1039 & 398 & 1936 \\ 6710 & 5514 & 6991 & 8959 & 8843 \\ 235 & 302 & 123 & 31 & 25 \\ 510 & 848 & 341 & 696 & 91 \\ 3931 & 3421 & 4269 & 4760 & 4064 \\ 3421 & 4269 & 4610 & 4064 & 4155 \\ 9780 & 10909 & 13213 & 12343 & 14295 \\ 3311 & 4265 & 4773 & 3623 & 4465 \\ 6469 & 6644 & 8440 & 8720 & 9830 \end{tabular} Using the provided Excel sheet (in D2L) show the income statements, balance sheets, and cash flow statements, calculate the financial ratios for Walt Disney Co and one of its Competitor/Peer VIACOM. You must calculate the financial ratios for the most recent five full years for Walt Disney Co. and VIACOM. Show how you calculated the ratios for both companies. Tax rate is 20%. 1. Explain your findings for each ratio (Current, Quick, ROA, ROE, TIE, and others). i.e. current ratio is deteriorating. 2. Explain your findings for category of ratios (Liquidity, Debt, Asset Management and others). i.e. Overall liquidty ratios are improving and show no sign of immediate liqudity problem. 3. Which of the ratios may indicate problems? For these, explain the potential problems. i.e. Quick ratio is declining and indicate that the firm is likely to have difficulty to cover its short term cash expenses. 28 BALANCESHEET 29.29 2014-092015-092016-09 2017-092018-09 31 current assets 35 Recelvables 36 Inventories 37 Dufornd income taxes 38 Propaid expenser 39 Other current assets 40 Total current assess 41 Non-cument assets 42. Property, plant and equipment 43 Gross property, plant and equipment 44 Accumulated Depreciation 45 Net propety, plant and equipment. 46. Equity and other investments 47 Goodwill 48 intangble arsets 49. Other long-term assets 50. Total non-eurrent assets 51. Total assets \begin{tabular}{|r|r|r|r|r|} \hline 47054 & 50023 & 54198 & 57443 & 60304 \\ \hline23722 & 24844 & 26849 & 29037 & 30764 \\ \hline 23332 & 25179 & 27349 & 28406 & 29540 \\ \hline 2696 & 2643 & 4280 & 3202 & 2899 \\ \hline 27881 & 27826 & 27810 & 31426 & 31269 \\ \hline 7434 & 7172 & 6949 & 6995 & 6812 \\ \hline 7667 & 8604 & 8679 & 9871 & 11253 \\ \hline 69010 & 71424 & 75067 & 79900 & 81773 \\ \hline 84186 & 88182 & 92933 & 95789 & 98598 \\ \hline \end{tabular} 52 Liabilities and stociholden' equity. 53 Liabilities 54 Curnent liabilities 55 Shorttorm debt 56. Accounts payable 57. Accrued liabilitie 58. Defened revenues 59 Total cument liabilities 60 Non-cument liabilities 61 Longtem debt 62. Defered tares liabilities 63. Pensions and other benefits 64 Minority interest 65. Othe long-term tiabilities 66. Total non-cument liabilities 67. Total liabilites 68 Stockholdes' equity 69 Common stock 70 Retained eamings 71 Treasury stock 72 Accumulated other comprehensive income. 73. Total stociholdes' equity: 74 Total liablities and stockholden' equity 75 Statement of CASH FLOW 2014-09 2015-092016-092017-092018-09 79. Net income 80 Depreciation \& amortization 81 Deferred income taxes 82 Stock based compensation 83 Change in working capital 84 Inventory 85 Other working capital 86 Other non-cash items 87 Net cash provided by operating activities 800422885174081236811155201978088522354102410793179418810909979025271214393100318611892921321393662782334364118551180682123431306630111573393136017134375814295 88 Cash Flows From Investing Activities 93 Cash Flows From Financing Activities 94 Debt issued 95 Debt repayment 96 Common stock repurchased 97 Dividend paid \begin{tabular}{ll|r|rrr|r|} 100 & Effect of exchange rate changes & 6710 & 5514 & 6991 & 8959 & 8843 \\ 101 & Net change in cash & 235 & 302 & 123 & 31 & 25 \\ 102 & Cash at beginning of period & 510 & 848 & 341 & 696 & 91 \\ 103 & Cash at end of period & 3931 & 3421 & 4269 & 4760 & 4064 \\ 104 & Free Cash Flow & 3421 & 4269 & 4610 & 4064 & 41555 \end{tabular} 104 Free Cash Flow 105 Operating cash flow 106 Capital expenditure 107 Free cash flow 108 \begin{tabular}{|rrrrr|} \hline 2231 & 2550 & 6065 & 4820 & 1056 \\ \hline1648 & 2221 & 2205 & 2364 & 1871 \\ 6527 & 6095 & 7499 & 9368 & 3577 \\ \hline 1508 & 3063 & 2313 & 2445 & 2515 \\ 742 & 3315 & 1039 & 398 & 1936 \\ 6710 & 5514 & 6991 & 8959 & 8843 \\ 235 & 302 & 123 & 31 & 25 \\ 510 & 848 & 341 & 696 & 91 \\ 3931 & 3421 & 4269 & 4760 & 4064 \\ 3421 & 4269 & 4610 & 4064 & 4155 \\ 9780 & 10909 & 13213 & 12343 & 14295 \\ 3311 & 4265 & 4773 & 3623 & 4465 \\ 6469 & 6644 & 8440 & 8720 & 9830 \end{tabular}