Galaxy United, Inc.
2009 Income Statement
($ in millions) ? ??Net sales $8,450 ???? ">

Description of this paper

Loading

Galaxy United, Inc. 2009 Income Statement ($ in millions) Net-(Answered)

Description

Step-by-step Instant Solution


Question

Galaxy United, Inc.
2009 Income Statement
($ in millions) ?
??Net sales $8,450 ????
??Less: Cost of goods sold 7,190 ????
??Less: Depreciation

? ? 420 ????

??Earnings before interest and taxes 840 ????
??Less: Interest paid

? ? ? 72 ????

??Taxable Income 768 ????
??Less: Taxes

? ? 269 ????

??Net income

$ ? 499 ????

?

? Galaxy United, Inc.
2008 and 2009 Balance Sheets
($ in millions) ?
?

2008

2009

? ?

2008

2009

??Cash $ ? ??120????? $ ? 150 ????? ? ??Accounts payable ?$1,120 ???? ??$1,130 ???
??Accounts rec. 940 ???? 780 ????? ? ??Long-term debt ? ??860????? ? ??1,252????
??Inventory

1,480 ????

1,530 ?????

? ??Common stock $3,200 ???? $3,000 ???
??Sub-total $2,540 ???? $2,460 ????? ? ??Retained earnings

? ??530 ????

728 ???

??Net fixed assets

3,170 ????

3,650 ?????

? ? ? ?
??Total assets

$5,710 ????

$6,110 ?????

? ??Total liab. & equity

$5,710 ???

$6,110 ???


What is the return on equity for 2009?

rev: 01_14_2016_QC_CS-37830

 

Paper#9255958 | Written in 27-Jul-2016

Price : $16
SiteLock