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Question 8: Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest

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Question 8: Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales $8,450 Less: Cost of goods sold 7,180 Less: Depreciation 410 Earnings before interest and taxes 860 Less: Interest paid 85 Taxable Income 775 Less: Taxes 271 Net income $ 504 Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions) 2008 2009 2008 2009 Cash $ 130 $ 150 Accounts payable $1,110 $1,140 Accounts rec. 940 780 Long-term debt 1,020 1,297 Inventory 1,490 1,530 Common stock $3,160 $2,960 Sub-total $2,560 $2,460 Retained earnings 500 703 Net fixed assets 3,230 3,640 Total assets $5,790 $6,100 Total liab. & equity $5,790 $6,100 What is the quick ratio for 2009? 2.16 2.31 .82 .96 1.34
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Question 15: Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales $8,450 Less: Cost of goods sold 7,190 Less: Depreciation 400 Earnings before interest and taxes 860 Less: Interest paid 77 Taxable Income 783 Less: Taxes 274 Net income $ 509 Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions) 2008 2009 2008 2009 Cash $ 130 $ 160 Accounts payable $1,120 $1,140 Accounts rec. 940 770 Long-term debt 930 1,242 Inventory 1,480 1,530 Common stock $3,190 $2,990 Sub-total $2,550 $2,460 Retained earnings 530 738 Net fixed assets 3,220 3,650 Total assets $5,770 $6,110 Total liab. & equity $5,770 $6,110 What is the return on equity for 2009? 11.1 percent 13.6 percent 21.7 percent 5.9 percent 16.3 percent
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PB-Question 8_15_26_1_2_5_14.docx

Question 8:
Galaxy United, Inc.
2009 Income Statement
($ in millions)
Net sales
Less: Cost of goods sold
Less: Depreciation
Earnings before interest and taxes
Less: Interest paid
Taxable Income...

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