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How would you describe a ratio analysis and why is it important?
Which of these ratios would be most important for the owner of a hotel or restaurant? Explain why you chose that one please do not respond by saying that they are all important. Choose one and defend your choice.
Which one is the least important to a hospitality manager and why? Choose one and defend your choice.

An individual has a $120,000 30 year mortgage at 6% fixed. This individual also has a floating rate Home Equity line of credit for $20,000. The current rate on this loan is 8.5%. Only interest payments are required on the Home Equity line. The individual has an increase in discretionary income of $500 per month. Assuming rates will stay constant, does it make more economic sense to pay down the mortgage or the Home Equity loan first?

KC issued 40,000 shares of its $8 par value common stock for $9 on Jan 1, 2002. KC repurchased 1,000 shares at $8 per share on Apr 1, 2003, resold 500 shares at $9 per share on July 1, 2003, and on Oct 1, 2003, resold the final 500 shares at $5 per share. Assuming KC uses the par value method of accounting for its treasury stock, retained earnings at Dec 31, 2003 would be how much?