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Unformatted text preview: Our beginning of year equity of $75,000,000 was sufficient to fund our capital needs, and no additional shares were issued this year. Our "5% preferred shareholders" have again received their full $2,000,000 in dividends for the year. The remaining earnings have been reinvested in the company." (a) Use profitability ratios to determine Fulton's sales, cost of goods sold, gross profit, and net income. (b) Calculate Futlon's return on assets and return on equity. Which is higher, and why?...
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- Spring '11