ACC – Fay Thill Country Stores

The 2008 financial statements for Fay Thill Country 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 expenses of $20,000. Total assests and total liabilities for 2007 were $430,000 and $270,000, respectively. Compute the following ratios for 2008:1. Profit margin2. Return on assets3. Return on equity4. Times-interest-earned5. Debt ratioUsing the information from L9A3, a market price of $25 per share, and 100,000 shares of common stock outstanding, compute the following for 2008:1. Earning per share2. Price/earning ratio

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