The 2010 financial statements for Country Cousin Stores show total assets of ($490,000,) total liabilities of ($290,000,)

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The 2010 financial statements for Country Cousin Stores show total assets of \($490,000,\) total liabilities of \($290,000,\) net sales of \($1,800,000,\) net income of \($450,000,\) income from operations of \($520,000,\) cost of goods sold of \($1,080,000,\) preferred dividends of \($225,000,\) and interest expense of \($20,000.\) Total assets and total liabilities for 2009 were \($430,000\) and \($270,000,\) respectively. Preferred equity for both years is \($35,000.\) Compute the following ratios for 2010:

1. Return on sales

2. Return on assets

3. Return on common equity

4. Times-interest-earned ratio 5. Debt ratio

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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