Profitability ratios, trading on the equity. Digital Relay has both preferred and common stock outstanding. The company reported the following information for 20X7:
Profitability ratios, trading on the equity. Digital Relay has both preferred and common stock
outstanding. The company reported the following information for 20X7:
| Net sales | $1,750,000 |
| Interest expense | 120,000 |
| Income tax expense | 80,000 |
| Preferred dividends | 25,000 |
| Net income | 130,000 |
| Average assets | 1,200,000 |
| Average common stockholders’ equity | 500,000 |
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