4.920 P4.7 You have the following information from a restaurant operation: Balance Sheets, December 31 Assets Year 2007 Year 0008 Cash $ 9,100 S 14.200 Credit card receivables 6,240 Accounts receivable 5.280 6,160 Food inventory 14,600 13.900 Prepaid expenses 3,800 4.500 Land 32.000 32,000 Building 315,800 323,200 Equipment 66,640 73.200 Fumishings 16,660 18,300 Accumulated depreciation (113,700) 124,500) Total Assets $335.100 $367,200 Liabilities & Stockholders' Equity Accounts payable Bank note payable Income tax payable Accrued expenses payable Mortgage payable (current) Long-term mortgage payable Common stock Retained earnings Liabilities & Stockholders' Equity Year 0007 $ 16,700 4.900 12.500 7,100 10,400 192.000 10,000 101.500 $335.100 Year 0008 $ 12.500 3,600 12.600 7.500 12.100 180.900 10,000 128,000 $367,200 Income Statement (Condensed) For the Year Ending December 31, 2008 Sales revenue $742.600 Cost of sales S301.900 Operating expenses 381.200 Total Operating Costs (683.100) Operating income, before interest $ 59,500 and tax Interest expense 19.400) Income before tax $ 40,100 Income tax 12.600) Net Income $ 27.500 * Sales revenue consisted of 26% cash, 62% credit cards, and 12% accounts receivable. Number of times interest is curned for Year 2008 Net income to total sales revenue ratio for Year 2008 D. Return on stockholders' equity for Year 600 4. Food inventory over ratio for Years 1. Property, plant, and equipment (fixed assets) turnover ratio for Year OUIS