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Galaxy United, Inc. 2009 Income Statement ($ inthousands) Net sales $5,720 Less: Cost of goods sold 4,070 Less: Depreciation 430 Earnings before interest and taxes
Galaxy United, Inc. 2009 Income Statement ($ inthousands) | |
Net sales | $5,720 |
Less: Cost of goods sold | 4,070 |
Less: Depreciation | 430 |
Earnings before interest and taxes | 1,220 |
Less: Interest paid | 29 |
Taxable Income | 1,191 |
Less: Taxes | 417 |
Net income | $ 774 |
Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in thousands) | ||||||
2008 | 2009 | 2008 | 2009 | |||
Cash | $ 75 | $ 170 | Accounts payable | $1,320 | $1,220 | |
Accounts rec. | 980 | 850 | Long-term debt | 710 | 520 | |
Inventory | 1,470 | 1,990 | Common stock | $3,155 | $3,396 | |
Total | $2,525 | $3,010 | Retained earnings | 910 | 1,184 | |
Net fixed assets | 3,570 | 3,310 | ||||
Total assets | $6,095 | $6,320 | Total liab. & equity | $6,095 | $6,320 |
What is the debt-equity ratio for 2009?
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