Compute Walgreens’ debt-to-equity ratio at August 31, 2015 and 2014. As an investor, how would you react to the changes in this ratio?

The following items, listed alphabetically, appear on Walgreens Boots Alliance, Inc consolidated balance sheet at August 31, 2015 (in millions): Accrued expenses and other liabilities ……….. $ 5,225 Deferred income taxes (long-term) …………… 3,538 Long-term debt ………………………………… 13,315 Other non-current liabilities …………………… 4,072 Short-term borrowings ………………………… 1,068 Trade accounts payable ……………………….. 10,088 Income taxes ………………………………….. 176 Source: Walgreens, 2015 Form 10-K. Required 1. Prepare the Current Liabilities and Long-Term Liabilities sections of Walgreens’ classified balance sheet at August 31, 2015. 2. Walgreens had total liabilities of $16,633 and total shareholders’ equity of $20,561 at August 31, 2014. Total shareholders’ equity at August 31, 2015, amounted to $31,300. (All amounts are in millions.) Compute Walgreens’ debt-to-equity ratio at August 31, 2015 and 2014. As an investor, how would you react to the changes in this ratio? 3. What other related ratios would the company’s lenders use to assess the company? What do these ratios measure? View Solution:
The following items listed alphabetically appear on Walgreens Boots Alliance

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