Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales $8,550 Less: Cost of...
|
Galaxy United, Inc. 2009 Income Statement ($ in millions) |
|
| Net sales | $8,550 |
| Less: Cost of goods sold | 7,180 |
| Less: Depreciation |
420 |
| Earnings before interest and taxes | 950 |
| Less: Interest paid |
78 |
| Taxable Income | 872 |
| Less: Taxes |
305 |
| Net income |
$ 567 |
|
Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions) |
||||||
|
2008 |
2009 |
2008 |
2009 |
|||
| Cash | $ 120 | $ 160 | Accounts payable | $1,120 | $1,140 | |
| Accounts rec. | 940 | 780 | Long-term debt | 940 | 1,204 | |
| Inventory |
1,470 |
1,510 |
Common stock | $3,180 | $2,980 | |
| Sub-total | $2,530 | $2,450 | Retained earnings |
510 |
776 |
|
| Net fixed assets |
3,220 |
3,650 |
||||
| Total assets |
$5,750 |
$6,100 |
Total liab. & equity |
$5,750 |
$6,100 |
|
What is the return on equity for 2009?
rev: 01_14_2016_QC_CS-37830
13 percent
16 percent
10 percent
18 percent
15 percent
Homework Answers
Return On Equity (ROE) = Net income / Average shareholders Equity
Average shareholders Equity = (Beginning shareholders Equity + Ending shareholders Equity)/2
= (3180+510+2980+776)/2
= 7446/2
= 3723
Return On Equity (ROE) = 567/3723
= 15.23%
15 percent
Add Answer to:
Galaxy United, Inc.
2009 Income Statement
($ in millions)
Net
sales
$8,550
Less:
Cost of...
what is the return on equity use2009 values Galaxy United, Inc. 2009 Income Statement Net sales...
what is the return on equity use2009 values
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