The 2012 financial statements for Country Music Stores show total assets of $550,000, total…
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The 2012 financial statements for Country Music Stores show total assets of $550,000, total liabilities of $302,500, net sales of $1,125,000, net income of $184,500, income from operations of $230,000, cost of goods sold of $735,000, dividends of $22,140, and interest expense of $25,000. Total assets and total liabilities for 2011 were $475,000 and $312,500, respectively. Compute the following ratios for 2012. Round all answers to two decimal places. 1. Debt ratio 2. Interest coverage ratio 3. Return on assets 4. Dividend payout 5. Return on equity
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