410 79 287 $ 534 2008 2009 2008 2009 1,470 1,530 520 753 3,160 3,620 $5,680 $6,0
ID: 2745995 • Letter: 4
Question
410
79
287
$ 534
2008
2009
2008
2009
1,470
1,530
520
753
3,160
3,620
$5,680
$6,080
$5,680
$6,080
What is the return on equity for 2009?
rev: 01_14_2016_QC_CS-37830
Galaxy United, Inc.2009 Income Statement
($ in millions) Net sales $8,500 Less: Cost of goods sold 7,190 Less: Depreciation
410
Earnings before interest and taxes 900 Less: Interest paid79
Taxable Income 821 Less: Taxes287
Net income$ 534
Explanation / Answer
Return on equity= Net Income/Equity
=$534/$2900
=0.1841
=18.41%
=18%
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