Years 2008 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 ACCOUNT 2006 2007 2008 CATEGORY 2006 2007 Net Sales 330 $ 441 Cost of 462 Current Assets $ 82 $ 94 $ Goods Sold 148 200 235 Fixed Assets 215 208 Gross Profit $ 182$ 241 $ 227 Total Assets $ Operating 297$ 3025 Expenses 148 163 181 Liabilities and Owner's Equity EBIT $ 34 $ 78 $ 46 Current Liabilities $. Triterest 275 79 $ 5 7 8 Total Long-Tem Debt 68 77 EBT $ 29 $ 71 $ 38 Total Liabilities $ 156 $ Taxes 8 18 10 Owner's Equity 202 146 Net Profit $ 21 $ 535 28 Total Liabilities & OE $ 297 $ 302 $ 195 306 955 87 70 157 149 308 Refer to Table 4-2. The Debt to Equity ratio for 2008 was approximately 0.95. 2.05. 1.95. 0.51 1.05