QUESTION 1 2008 111 Table 4-2. Income Statement and Balance Sheet for Sam's Appliances Income Statement Balance Sheet Years Ending December 31 January 1 through December 31 Years Years ACCOUNT 2006 2007 2009 CATEGORY 2006 2007 Net Sales $ 330$ 441$ 462 Current Assets $ 82$ 94 $ Cost of Goods Sold 148 200 235 Fixed Assets 215 208 Gross Profit 182$ 241 $ 227 Total Assets $ 297 $ 3025 Operating Expenses 148 163 181 Liabilities and Owner's Equity EDIT $ 34 $ 78$ 46 Current Liabilities 27 $ 79$ Tnterest 5 Z 8 Total Long-Term Debt 68 77 EBT $ 29 $ 71$ 38 Total Liabilities 95 $ 156 $ Taces 8 18 10 Owner's Equity 202 146 Net Profit $ 21 $ 53 $ 28 Total Liabilities & OE $ 297 $ 302 $ lal 195 306 CON 87 70 157 149 306 only Refer to Table 4-2. The current ratio for this company in 2008 was approximately O 1.24 1.94 128 1.19 QUESTION 2 Table