Geodesic Domes, Inc., builds environmentally sensitive structures. The company's 2017 revenues totaled $2,800 million. At December 31, 2017, and 2016, the company had $661 million and $600 million in current assets, respectively. The December 31, 2017, and 2016, balance sheets and income statements reported the following amounts: Requirements 1. Describe each of Geodesic Domes, Inc.'s liabilities and state how the liability arose. 2. What were the company's total assets at December 31, 2017? Evaluate the company's leverage and debt ratios at the end of 2016 and 2017. Did the company improve, deteriorate, or remain about the same over the year? 3. Accounts payable at the end of 2015 was $190 million. Calculate accounts payable turnover as a ratio and days payable outstanding (DPO) for 2016 and 2017. Calculate current ratios for 2016 and 2017 as well. Evaluate whether the company improved or deteriorated from the standpoint of ability to cover accounts payable and current liabilities over the year.
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