Galaxy United, Inc. 2008 and 2009 Balance Sheets 2008 2009 Cash $17,000 $24,700 Accounts payable Accounts rec. 54,100 56,700 Long-term debt Inventory 189,400 186 700 Common stock Sub-total $260,500 $268,100 Retained earnings Net fixed assets 261,300 279,400 Total $521,800 $547.500 Total 2008 2009 $128,600 $134,700 147,500 141,000 125,000 140,000 120.700 131.800 $521,800 $547,500 The par value of the common stock is $1 per share. a. What is the quick ratio for 2009? b. How many days of sales are in receivables 2 c. What is the return on equity 2 d. What is the amount of the dividends paid for 2009? 3. Given the following information: Galaxy United, Inc. 2009 Income Statement Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable income Less: Taxes Net income $627,800 521,400 11,200 95,200 10,100 $85,100 28,900 $56,200