Question

The 2014 financial statements for Country Cousin Stores show total assets of $490,000, total liabilities of $290,000, net sales of $1,800,000, net income of $450,000, income from operations of $520,000, cost of goods sold of $1,080,000, preferred dividends of $225,000, and interest expense of $20,000. Total assets and total liabilities for 2013 were $430,000 and $270,000, respectively. Preferred equity for both years is $35,000. Compute the following ratios for 2014:
1. Return on sales
2. Return on assets
3. Return on common equity
4. Times-interest-earned ratio
5. Debt ratio


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  • CreatedJuly 08, 2015
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