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Galaxy United, Inc. 2009 Income Statement ($ inthousands) Net sales $5,710 Less: Cost of goods sold 4,070 Less: Depreciation 420 Earnings before interest and taxes
Galaxy United, Inc. 2009 Income Statement ($ inthousands) | |
Net sales | $5,710 |
Less: Cost of goods sold | 4,070 |
Less: Depreciation | 420 |
Earnings before interest and taxes | 1,220 |
Less: Interest paid | 31 |
Taxable Income | 1,189 |
Less: Taxes | 416 |
Net income | $ 773 |
Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in thousands) | ||||||
2008 | 2009 | 2008 | 2009 | |||
Cash | $ 60 | $ 170 | Accounts payable | $1,330 | $1,190 | |
Accounts rec. | 970 | 840 | Long-term debt | 720 | 500 | |
Inventory | 1,490 | 1,970 | Common stock | $3,150 | $3,407 | |
Total | $2,520 | $2,980 | Retained earnings | 910 | 1,183 | |
Net fixed assets | 3,590 | 3,300 | ||||
Total assets | $6,110 | $6,280 | Total liab. & equity | $6,110 | $6,280 |
What is the debt-equity ratio for 2009?
.37.27.47.23.45
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