2008 111 Table 4-2. Income Statement and Balance Sheet for Sam's Appliances Income Statement Balance Sheet Years Ending December 31 January 1 through December 31 Years Years ACCOUNT 2006 2007 2008 CATEGORY 2006 2007 Net Sales $ 330 $ 441 $ 462 Current Assets $ 82 $ 94 $ Cost of Goods Sold 148 200 235 Fixed Assets 215 208 Gross Profit $ 1825 241$ 227 Total Assets $ 297 $ 302 $ Operating Expenses 148 163 181 Liabilities and Owner's Equity EBIT $ 341$ 78$ 46 Current Liabilities $ 27 $ 79$ Interest 5 7 8 Total Long Tem Debt 68 77 EBT $ 295 715 38 Total Uablities $ 95 $ 156 $ Tares 8 18 10 Owner's Equity 202 146 Net Profit 21 53 28 Total abilities & OE 29715 302 $ 195 306 87 70 157 149 306 Refer to Table 4-2. The Fixed Asset Turnover ratio for 2008 was approximately 2.29. 2.22. 1.52. 2.37