Give a short explanation of your conclusions about Barnes and Noble after each category of ratios (i.e. How liquid is the company? How efficiently is it using its assets? etc.).

Liquidity and Efficiency
Current Ratio	= Current assets / Current liabilities	1.45
Acid-test ratio	= Cash + Short-term investments + Current receivables / Current liabilities	0.27
Accounts receivable turnover	= Net sales / Average accounts receivable, net	20.52	times
Inventory turnover	= Cost of goods sold / Average inventory	6.45	times
Days' sales uncollected	= Accounts receivable, net / Net sales * 365	17.62	days
Days' sales in inventory	= Ending inventory / Cost of goods sold *365	113.19	days
Total asset turnover	= Net sales / Average total assets	2.05	times
Solvency -
Debt ratio	= Total liabilities / Total assets	0.52
Equity ratio	= Total equity / Total assets	0.48
Debt-to-equity ratio	= Total liabilities / Total equity	0.91
Times interest earned	= Income before interest expense and income taxes / Interest expense	(3.83)	times
Profitability
Profit margin ratio	= Net income / Net sales	-1%
Gross margin ratio	= Net sales - Cost of goods sold / Net sales	26%
Return on total assets	= Net income / Average total assets	-2%
Return on common stockholders' equity	= Net income - Preferred dividends / Average common stockholders' equity	-5%
Book value per common share	= Shareholders' equity applicable to common shares / Number of common shares outstanding	$9.53
Basic earnings per share	= Net income - Preferred dividends / Weighted-average common shares outstanding	$ (0.52)
Market Prospects
Price-earnings ratio	= Market price per common share / Earnings per share	(3.26)	times
Dividend yield	= Annual cash dividends per share / Market price per share	0.0%