*9道題是ratio analysis，不需要計算ratio，題目中把這個company4年的ratio都列出來了，還對比了industry norms。
1.bank對它的liquidity、solvency、profitability的分析
2.operating cycle并和industry norm對比進行分析
3.列舉2個外部financial resource bank loans commercial loans debt
4.the weakness of ratio analysis?
5.What are the two resources of financial information for public companies?
財報，股價，機構(gòu)評級
Current ratio=current assets/current liabilities
It is the most common measure of liquidity
Debt to equity ratio=total liabilities/stockholder’s equity
it represents the long-term burden carried by a company’s per dollar of equity
Debt to asset:It measures the percentage of the firm’s capital structure provided by creditors
ROA:is a measure of how well management is deploying the firm’s assets in the pursuit of a profit
P-E ratio:It measures how much an investor must spend to “buy” a dollar of earnings
AR turn over:It measures the efficiency of accounts receivable collection
ROE=(net income/net sales)*(net sales/average total assets)*(average total assets/average common equity)
It measures the return per owner dollar invested.
operating leverage:at a certain amount of fixed cost,the effect of changes in sales quantity on change in EBIT
financial leverage:at a certain amount of interest expenses,the effect of change in EBIT on change in net income。
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