Galaxy United, Inc. 2009 Income Statement $627,800 521,400 11,200 95,200 10,100 $85,100 28,900 $56,200 Galaxy United, Inc. 2008 and 2009 Balance Sheets Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income 2008 2009 $17,000 $24,700 Cash Accounts rec. Accounts payable 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 * The par value of the common stock is $1 per share. two points each for the questions below... 1. What is the quick ratio for 2009? 2. How many days of sales are in receivables? (Use 2009 values) 3. What is debt-equity ratio? (Use 2009 values) 4. What is the cash coverage ratio for 2009? 5. What is the return on equity? (Use 2009 values) 2008 2009 $128,600 $134,700 147,500 141,000 125,000 140,000 120,700 131,800 $521,800 $547,500