eddff

Warm up exercises

E3-1 INCOME STATEMENT($000,000)

Sales 345(-) Cost of good Sales 255

a) Gross Profit 90(-) Operating Expenses

Depreciation 25General and administration expenses 22Sales expense 18Lease expense 4

69Operating profit 21(-) Interest expense 3Net pofit before tax 18(-) Taxes (35%) 6.3

b) Net pofit after tax 11.7(-) Dividend 4.7

7Earning per share (EPS) 1.65

E3-2

E3-3 Statement of retaioned Earnings ($000,000)

Retained earning balance (beginning) 25.32Plus :Net profit after taxes 5.15Less : DividendPreferred Stock 0.75Common Stock 3.85Total dividend paid 4.6Retained earning balance (closing) 25.87

Income statement can be called a profit and loss statement because the statement provides information that shows the difference of income and expenses that derive to the company's profit of the year

Balance in balance sheet means the balances of the firm's assets against its liabilities and owner's equity. We balance the two halves to show the firm's financial position at a given point in time.

E3-4

Yes I agree with the Ceo claim that the firm is lean and soon be profitable. The firms has healthy quick ratio and currnt ratio. However the firms need to becareful of the inventory level as the company 's inventory are types of cannot be easily sold because they are partially completed items, special item and the like. At the times when the company face the dire need for liquidity, the inventory is the most difficult to convert into cash by selling it.

p3-1The income statement provides a financial summary of the firm's operating results during a specific period.The balance sheet presents the summary statement of the firm's financial position at given time.the retained earning statement is an abbreviate form of the statement of shareholder's equity.

The income statement provides a financial summary of the firm's operating results during a specific period.The balance sheet presents the summary statement of the firm's financial position at given time.

Account name

Account payable Balance sheet Current liability

Account receivable Balance sheet Current assets

Accruals Balance sheet Current liability

Accumulated depreciation Balance sheet Fix assets

Administrative expense Income statement Expense

Buildings Balance sheet Fix assets

Cash Balance sheet Current assets

Common stock (at par) Balance sheet Stockholders equity

Cost of goods sold Income statement Expense

Depreciation Income statement Expense

Equipment Balance sheet Fix assets

General expense Income statement Expense

Interest expense Income statement Expense

Inventories Balance sheet Current assets

Land Balance sheet Fixed assets

Long-term debts Balance sheet Current liability

Machinery Balance sheet Fixed assets

Marketable securities Balance sheet Current assets

Statement (column 1)

Type of account (column 2)

Notes payable Balance sheet Current liability

Operating expense Income statement Expense

Paid-in capital in excess of par Balance sheet Stockholders equity

Preferred stock Balance sheet Stockholders equity

Preferred stock dividends Balance sheet Stockholders equity

Retained earnings Balance sheet Stockholders equity

Sales revenue Income statement Revenue

Selling expense Income statement Expense

Taxes Income statement Expense

Vehicles Balance sheet Fixed assets

P3-3 (m/s 96)

Revenue 360 000Operating ExpensesSalaries 180 000Employment tax & benefits 34 600Admin Exp 10 400Travel & Entertainment 17 000Lease Payment (2700 x 12) 32 400Depreciation 15 600Total Operating Expenses ( 290 000 ) 290 000Operating Profit 70 000Less: Interest ( 15 000)Profit before tax 55 000Less : Tax ( 30% x 55 000) ( 16 500 )Net Profit after Interest & Tax 38 500

ADAM & ARIN ADAM's Income and Expense Statement fofor the year ended 31 December 2012

IncomeSalaries (45k+30k) 75 000Dividend received 150Interest received 500Total income 75 650

ExpensesAuto Insurance 600Home insurance 750Auto loan payment 3 300Mortgage payment 14 000Utilities 3 200Groceries 2 200Medical 1 500Property taxes 1 659Income tax, Social Security 13 000Clothes and accessories 2 000Gas and auto repair 2 100Entertainment 2 000Total expenses 46 309

b) Cash Surplus

c) During the year, Adam & Arin Adam's had a total income of RM 75 650 and total expenses of RM 75 650 and total expenses of RM 46 309, which left them with a cash surplus of RM 29 341. They can use the surplus to increase their sharing and investment.

c) During the year, Adam & Arin Adam's had a total income of RM 75 650 and total expenses of RM 75 650 and total expenses of RM 46 309, which left them with a cash surplus of RM 29 341.

P3-5 (page 97)

Net profit before tax 218 000Tax (40% x 218 000) 87 200Profit after tax 130 800Preferred stock dividends 32 000Earnings available for common stockholders 98 800

Number of shares of common stock outstanding

RM 85 000

EPS = RM 1.16

(b) RM 0.80 x 85 000 shares 68 000

Profit after tax 130 800Less : Cash DividendsPreffered Stock ( 32 000)Common Stock ( 68 000)Retained Earning 30 800

EPS = Earnings available for common stockholders

= RM 98 800

P3-6 page 97Owen Daris Company's Balance Sheet as at Dec 31,2012

Assets

Accounts receivable 450Marketable securities 75Cash 215Total current assets 740

Land 100Buildings 225Equipment 140Furniture and Fixtures 170Machinery 420Vehicles 25Total gross fixed assets 1 080Less : Accumulated Depreciation -265Net Fixed Assets 375

815Total Assets 1 555

Liabilities and Stockholder's Equity

Accounts payable 220Accumulated 55Notes payable 475Total current liabilities 750Long term debts 420Total liabilities 1 170Common stock (at par) 90Paid in capital in exceess (at par) 360Preffered stock 100Retain Earnings 210Total Investment 1 930

P3-7 page 98ADAM AND ARIN ADAMSBALANCE SHEET AS OF DEC 31, 2012

Assets Liabilities and Net Worth

Cash on hand 300 Medical bills payable 250Checking accounts 3 000 Utility bills payable 150Savings accounts 760 Credit card balance 2 000Money market funds 1 200 Total current liabilities 2 400Total liquid assets 5 260

Auto loan 8 000IBM stock 2 000 Mortgage 100 000Retirement funds, IRA 2 000 Personal loan 3 000Total investment 4 000 Total long term liabilities 111 000

Real estate 150 000 Net worth 76 5002011 Sebring 15 000 MISC 4402010 Jeep 8 000 Total liabilities and Net worth 189 900Jewelry and artwork 3 000Household furnishings 4 200Total personal property 180 200Total Assets 189 460

b) The Adam's family total assets as of December 31, 2012 is RM 189 40.00

c) Total Liquid Assets RM 5 260 Total Current Liabilities RM 2 400 Net working Capital RM 2 860

p3-8 pages 96

Conrad Air, Inc. Balance Sheet as of December 31,2012

Assets Liabilities and Stockholders' Equity

Cash 120000 Accounts payable 70000Marketable securities 35000 Short-term notes 55000Accounts receivable 45000 Current liabilities 125000Invntories 130000 Long-term debt 2700000 Current assets 330000 Total liabilities 2825000Equipment 2970000 Common stock 500000Buildings 1600000 Retained earnings 1575000 Fixed assets 4570000 Stockholders' equity 2075000 Total assets 4900000 Total liabilities and equity 4900000

a) Conrad paid no dividends during the year and invested the funds in marketable securities


Cash 120000 Accounts payable 70000Marketable securities 1400000 Short-term notes 55000Accounts receivable 45000 Current liabilities 125000Invntories 130000 Long-term debt 2700000 Current assets 1695000 Total liabilities 2825000Equipment 2970000 Common stock 500000Buildings 1600000 Retained earnings 2940000 Fixed assets 4570000 Stockholders' equity 3440000 Total assets 6265000 Total liabilities and equity 6265000

b) Conrad paid no dividends totaling RM 500,000 and used the balance of the net income to retire (pay off) long-term debt.


Cash 120000 Accounts payable 70000Marketable securities 35000 Short-term notes 55000Accounts receivable 45000 Current liabilities 125000Invntories 130000 Long-term debt 1835000 Current assets 330000 Total liabilities 1960000Equipment 2970000 Common stock 500000Buildings 1600000 Retained earnings 1940000 Fixed assets 4570000 dividend 500000 Total assets 4900000 Stockholders' equity 2940000

Total liabilities and equity 4900000

c) Conrad paid dividends totaling RM 500,000 and invested the balance of the net income in building a new hangar.


Cash 120000 Accounts payable 70000Marketable securities 35000 Short-term notes 55000Accounts receivable 45000 Current liabilities 125000Invntories 130000 Long-term debt 2700000 Current assets 330000 Total liabilities 2825000Equipment 2970000 Common stock 500000Buildings 1600000 Retained earnings 1940000hangar 865000 dividend 500000 Fixed assets 5435000 Stockholders' equity 2940000 Total assets 5765000 Total liabilities and equity 5765000

d) Conrad paid out all RM 1,365,000 as dividends to its stockholders.


Cash 120000 Accounts payable 70000Marketable securities 35000 Short-term notes 55000Accounts receivable 45000 Current liabilities 125000Invntories 130000 Long-term debt 2700000 Current assets 330000 Total liabilities 2825000Equipment 2970000 Common stock 500000Buildings 1600000 Retained earnings 210000 Fixed assets 4570000 dividend 1365000 Total assets 4900000 Stockholders' equity 2075000

Total liabilities and equity 4900000

a) Conrad paid no dividends during the year and invested the funds in marketable securities

b) Conrad paid no dividends totaling RM 500,000 and used the balance of the net income to retire (pay off) long-term debt.

c) Conrad paid dividends totaling RM 500,000 and invested the balance of the net income in building a new hangar.

p3-9Original price per share

= Market price per shareEPS

= 0.75900000/300000

= 0.25

P3-10 (page 99)Hayes EnterprisesStatement of Retained EarningsFor the year ended December 31, 2012

Retained Earnings Balance (Jan 1,2012 ) 928 000Plus: - Net Profits after taxes (for 2012) 377 000Less: - Cash Dividends (paid during 2012) Preffered stock ( 47 000) Common stock (balancing figure) (210 000) Total Dividends paid (257 000)Retained earnings balance (Dec 31,2012) 1 048 000

(b) Number of shares of sommon stock outstanding

RM 140 000

= RM 2.69

(c ) RM 210 000 RM 140 000

RM1.50

A RM 1.50 per-share cash dividend the firm paid on common stock for 2012

EPS = Earnings available for common stockholders

= RM 377 000

The company paid total dividends of $200,000 during fiscal 2012.

(a) What was Mountain Air's net income for fiscal 2012? = $500,000

(b) How many new shares did the corporation issue and sell during the year? = $1000000

(c) At what average price per share did the new stock sold during 2012 sell?

(d) At what price per share did Mountain Air's original 500,000 shares sell? = $ 1.00

= $ 3.00

a)

b)

c)

The ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities (debt and payables) with its short-term assets (cash, inventory, receivables). The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.

The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.

The higher the ratio, the greater risk will be associated with the firm's operation. In addition, high debt to assets ratio may indicate low borrowing capacity of a firm, which in turn will lower the firm's financial flexibility. Like all financial ratios, a company's debt ratio should be compared with their industry average or other competing firms.

P3-13 page 100

Items 2009 2010 2011 2012Total Current Assets 16 950 21 900 22 500 27 000Total Current Liabilities 9 000 12 600 12 600 17 400Current Ratio 1.88 1.74 1.79 1.55

Current Liabilities

Current Liabilities

Items 2009 2010 2011 2012Total Current Assets 16 950 21 900 22 500 27 000Less : Inventory (6 000) (6 900) (6 900) (7 200)

10 950 15 000 15 600 19 800Divide with total Current Liabilities 9 000 12 600 12 600 17 400Quick Ratio 1.22 1.19 1.24 1.14

b) The firms Liquidity has been reducing over the 2009 - 2010 period. This is because of the increase in liabilities worth RM 3 600 and increased in cash tied up in inventory of RM 900.

c)

Current Ratio = Current Assets

Quick Ratio = (Current Assets - Inventory)

P3-14 page 101

Liquidity Ratio

Current Liabilities

RM 2 100

= RM 2.38

Current Assets

Cash 3 200Marketable securities 1 000Checking Accounts 800Total Current Assets 5 000

Current LiabilitiesCredit card payable 1 200Short term notes payable 900Total Current Liabilities 2 100

Josh has a liquidity ratio of 2.38, which is much higher compared to his other friends of 1.8.This shows that Josh has a greater degree of liquidity. Therefore, Josh would be able to payfor his short-term obligations such as his credit card payment and notes payables when they come due.However, liquid assets like cash held at bank and marketable securities that Josh has would not earn him a particularly high rate of return.

Current Ratio = Current Assets

= RM 5 000

Josh has a liquidity ratio of 2.38, which is much higher compared to his other friends of 1.8.This shows that Josh has a greater degree of liquidity. Therefore, Josh would be able to payfor his short-term obligations such as his credit card payment and notes payables when they come due.However, liquid assets like cash held at bank and marketable securities that Josh has would not earn him a

P3-15 page 101

Quarter Inventory Sales RM 4 000 0001 400 000 ( 60% Cost of good sold ( RM 2 400 000 )2 800 000 ( 40% Gross profit margin RM 1 600 0003 1 200 0004 200 000

2 600 000

2 600 0004

650 000 (averge Inventory)

Inventory

650 000

= 3.69

3.69

= 98.92 days

b) Wilkins inventory are held longer compared to the other company in the industry. This could be due to the items produce by Walkins manufacturing are slow moving products. The products could be seasmal items.

Inventory turnover = Cost of good sold

= 2 400 000

Average age for Inventory = 365 days

p3-16a 300,000

2.4 mil/365= 45.60 days

b. 70% x 2.4 mil = 1.68 mil

1.68mil2.4 mil/365

= 65.5 daysit will effect because the payback time is longer in b than in a

a)

b)

c)

This ratio should be compared against industry averages. A low turnover implies poor sales and, therefore, excess inventory. A high ratio implies either strong sales or ineffective buying.High inventory levels are unhealthy because they represent an investment with a rate of return of zero. It also opens the company up to trouble should prices begin to fall.

Possessing a lower average collection period is seen as optimal, because this means that it does not take a company very long to turn its receivables into cash. Ultimately, every business needs cash to pay off its own expenses (such as operating and administrative expenses).

A shorter payment period indicates prompt payment to creditors, but a very short payment may be an indication that the company is not taking full advantage of the credit terms allowed by suppliers.

This ratio should be compared against industry averages. A low turnover implies poor sales and, therefore, excess inventory. A high ratio implies either strong sales or ineffective buying.High inventory levels are unhealthy because they represent an investment with a rate of return of zero. It also opens the

Possessing a lower average collection period is seen as optimal, because this means that it does not take a company very long to turn its receivables into cash. Ultimately, every business needs cash to pay off its own expenses (such as operating and administrative expenses).

A shorter payment period indicates prompt payment to creditors, but a very short payment may be an indication that the company is not taking full advantage of the credit

Debt

Debt ratio Total assets

Times interest earned ratio Earnings before interest and taxes Interest

Fixed-payment coverage ratio

Total liabilities

Earnings before interest and taxes + Lease payment

Int. + Lease pay. + {(Prin. + Pref.div.) x [1/(1 - T)]}

creek Enterprise industry average

3650000050000000 0.73 0.51

3000000 3 7.31000000

3000000+200000

1000000+200000(1/(1-.4))3200000 1.606 1.851992000

Common Size income statement is to evaluate profit in relation to sales. The ratios that aredirectly come from the common size income statement are 1) the gross profit margin 2) The operating profit margin 3) the net profit margin

Gross profit marginGross profits = 34.1 = 0.341

Sales 100

Gross profit margin is to measure the percentage of each sales dollar after the firm paid for its good. The higher gross profit margin, the better.

Operating profit marginOperating profits = 10.9 = 0.109

Sales 100

Operating profit margin is to measure the percentage each sales dollar after all cost and other expenses is paid. A higher profit margin is prefered

Net profit margin

= 5.5 = 0.055 Sales 100

Net Profit margin is to measure the sales dollar after all cost and expense, including tax, interest and dividend is paid. The higher the net profitmargin the better.

Earnings available for common stockholders

Common Size income statement is to evaluate profit in relation to sales. The ratios that aredirectly come from the common size income statement are 1) the gross profit margin 2) The operating profit

Gross profit margin is to measure the percentage of each sales dollar after the firm paid for its good. The higher gross profit margin, the better.

Operating profit margin is to measure the percentage each sales dollar after all cost and other expenses is paid. A higher profit margin is prefered

Net Profit margin is to measure the sales dollar after all cost and expense, including tax, interest and dividend is paid. The higher the net profit

p3-20a Pelican Inc

Debt Ratio= Total liabilities = 1000000

Total Assets 10000000= 10%

Times Interest Debt Ratio= Eraning Before Interest & rate = 6250000

Taxes 2460000= 2.5

b Operating profit margin= Operating profits = 6250000

Sales 25000000= 0.25

Net profit margin= Earnings available for common stockholders = 3690000

Sales 25000000= 0.1476

Return on total assets (ROA)= Earnings available for common stockholders = 3690000

Total assets 10000000= 0.369

Return on common equity= Earnings available for common stockholders = 3690000

stock equity 9000000= 0.41

Timber Forest inc

= 500000010000000

= 50%

= 52600002300000

= 2.7

= 625000025000000

= 0.25

34500025000000

0.0138

= 34500010000000

= 0.0345

= 3450005000000

= 0.069

P3-21 page 105

Sales

40 000 000

= 80%

Gross profit = RM 32 000 000

b) Cost of goods sold

Sales = 40 000 000Cost of Goods Sold = 8 000 000Gross profit = 32 000 000

= 35% Sales

= 35% 40 000 000

d) Operating Expenses

Gross Profit = 32 000 000Operating Expenses = 18 000 000Operating Profit = 14 000 000

Operating Expenses = RM 18 000 000

Sales Total Asset Sales

4 000

a) Gross Profit = Gross Profit

= 32 000 000

Cost of Goods Sold = RM 8 000 00

c) Operating Profits = Operating Profit

= 14 000 000

Operating Profits = RM 14 000 000

ROA = Common Stock x Sales = Common Stock

16% = 6 400

e) Earnings available for common stockholders

ROE = Common stock Equity

=640 0003 200 000

=20%

Earning available for common stockholders

Earnings available for common stockholders = RM 640 000

Ratio FormulaLiquidity

Current ratioCurrent liabilities

Quick (acid-test) ratio Current assets - Inventory Current liabilities

Activity

Inventory turnover Inventory

Average collection period Accounts receivable Average sales per day

Average payment periodAverage purchases per day

Total assets turnover Total assets

Debt


Times interest earned ratio Earnings before interest and taxes Interest

Profitability

Gross profit margin Gross profits Sales

Operating profit margin Operating profits Sales

Net profit margin Sales

Profitability (cont.)

Current assets

Cost of goods sold

Accounts payable

Sales

Total liabilities


Earnings per share (EPS)

Return on total assets (ROA)Total assets

Return on common equitycommon stock

The five key aspects of performance is liquidity, activity, debt, profitability, and market.

-Investors have greater confidence in the firm in 2012 than in the prior 2 years, as reflected in the price/earnings (P/E) ratio of 11.1. However, this ratio is below the industry average. In summary, the firm appears to be growing and has recently undergone an expansion in assets, financed primarily through the use of debt.





i. Liquidity- The firm’s liquidity seems to be good.

ii. Activity- Inventory appears to be in good shape. The average collection period seems to have crept up above that of the industry. Overall liquidity appears to be good, receivables and payables should be examined.

iii. Debt- Indebtedness increased over the 2010-2012 period and is currently above the industry average. However, Bartlett has evidently improved its income in 2012 so that it is able to meet its interest and fixed-payment obligations at a level consistent with the average in the industry.

iv. Profitability- Profitability relative to sales in 2012 was better than the average company in the industry, although it did not match the firm’s 2010 performance. The firm’s earnings per share, return on total assets, and return on common equity behaved much as its net profit margin did over the 2010-2012 period. The firm’s above-average returns – net profit margin, EPS, ROA, and ROE – may be attributable to the fact that it is more risky than average. A look at market ratios is helpful in assessing risk.

v. Market

Fox manufacturing company Industry average

138300 1.844 2.3575000

138300-82000 0.75 0.8775000

460000 0.56 4.5582000

34100 20.74 days 35.8 days600000/365

57000 26.4 days460000/365

600000 1.47 1.09408300

225000 0.55 0.3408300

80000 8 12.310000

140000 0.233 0.202600000

80000 0.133 0.135600000

42900 0.0715 0.091600000

42900 0.39

110200

42900 0.105 0.099408300

42900 0.39 0.167110200



Inventory appears to be in good shape. The average collection period seems to have crept up above that of the industry. Overall liquidity appears to be good, receivables and payables should be examined.

Indebtedness increased over the 2010-2012 period and is currently above the industry average. However, Bartlett has evidently improved its income in 2012 so that it is able to meet its interest and fixed-payment obligations at a level consistent with the average in the industry.

Profitability relative to sales in 2012 was better than the average company in the industry, although it did not match the firm’s 2010 performance. The firm’s earnings per share, return on total assets, and return on common equity behaved much as its net profit margin did over the 2010-2012 period. The firm’s above-average returns – net profit margin, EPS, ROA, and ROE – may be attributable to the fact that it is more risky than average. A look at market ratios is helpful in assessing risk.










Ratio Industry average actual 2011Current ratio 1.8 1.84Quick (acid-test) ratio 0.7 0.78Inventory turnover 2.5 2.59Average collection period 37.5 days 36.5 daysDebt ratio 65% 67%Times interest earned ratio 3.8 4.0Gross profit margin 38% 40%Net profit margin 3.50% 3.60%Return on total assets (ROA) 4.00% 4.00%Return on common equity 9.50% 8.00%Market/book (M/B) ratio 1.1 1.20%







v. Market

actual 20121.040.382.33

57 days61.30%

2.533.75%4.08%4.36%

8%1.20%





















v. Market














2010 Average Industry



Net Profit Margin0.059

Total Asset Turnover 2.11

Return on Total Assets (ROA) 0.12449

Financial Leverage Multiplier (FLM) 1.75

Return on Common Equity (ROE) 0.218









NetProfit Margin0.049



Return on Total Assets (ROA) 0.115 Return on

Common Equity (ROE) 0.213



X

X

X

X

X





X

Average Industry

Average Industry

Average Industry







X

X

X

X








X


XTotal Asset Turnover 2.15



Home health Inc Financial RatiosRatio 2011 2012 ProportionCurrent ratio 3.25 3 7.60%Quick (acid-test) ratio 2.5 2.2 12%Inventory turnover 12.8 10.3 19.53%Average collection period 42.60 days 31.4 days 26.29%Total assets turnover 1.4 2 -42.80%Debt ratio 0.45 0.62 -37.77%Times interest earned ratio 4 3.85 3.75%Gross profit margin 68% 65% 4.41%Operating profit margin 14% 16% 17.20%Net profit margin 8.30% 8.10% 2.40%Return on total assets (ROA) 11.60% 16.20% -39.65%Return on common equity 21.10% 42.60% -101.89%Price/earnings (P/E) ratio 10.70 9.8 8.41%Market/book (M/B) ratio 1.40 1.25 10.70%

table 3.1 pages 60

Income Statement2012

Sales revenue 178909Less : Cost of goods sold 117769 Gross profits 61140Less : Operating expenses Selling , General and administrative expenses 12356 Other tax income 33572 Depreciation expense 12103 Total operating expense 58031 Operating profits 3109Add : other Income 3147Earning before tax and interest 6256Less : Interest expense 398 Net profits before taxes 5858Less : Taxes 2070 Net profits after taxes 3788Less : Preferred stock dividends 0 Earnings available for common stockholders 3788

Earnings per share (EPS) 1.71Dividend per share (DPS) 1.47

Common size income statement2012

Sales revenue 100.0%Less : Cost of goods sold 65.8% Gross profits 34.2%Less : Operating expenses Selling , General and administrative expenses 6.9% Other tax income 18.8% Depreciation expense 6.8% Total operating expense 32.4% Operating profits 1.7%Add : other Income 1.8%

Less : Interest expense 0.2% Net profits before taxes 3.3%Less : Taxes 1.2% Net profits after taxes 2.1%Less : Preferred stock dividends 0.0% Earnings available for common stockholders 2.1%

Balance Sheet

2012AssetsCash 7229Accounts receivable 21163inventories 8068Other current assets 1831Total current assets 38291Property,plant,equipment, gross 204960Other Non Current assets 19413Total gross fixed assets 224373Less : accumulated depreciation 110020net fixed assets 114353total assets 152644

Liabilities and stockholders equityaccount payable 13792Short term debt payable 4093Other current liabilities 15290total current liabilities 33175long term debt payable 6655Deferred income tax 16484Other non current liabilities 21733Total non current liabilities 44872retained earning 74597total stockholder's equity 0total liabilities and stock holder's equity 152644

Common size balance sheet2012

AssetsCash 4.7%Accounts receivable 13.9%inventories 5.3%Other current assets 1.2%Total current assets 25.1%Property,plant,equipment, gross 134.3%Other Non Current assets 12.7%Total gross fixed assets 147.0%Less : accumulated depreciation 72.1%net fixed assets 74.9%total assets 100.0%

Liabilities and stockholders equityaccount payable 9.0%

Short term debt payable 2.7%Other current liabilities 10.0%total current liabilities 21.7%long term debt payable 4.4%Deferred income tax 10.8%Other non current liabilities 14.2%Total non current liabilities 29.4%retained earning 48.9%total stockholder's equity 0.0%total liabilities and stock holder's equity 100.0%

Summary of ratio

Ratio FormulaLiquidity

Current ratioCurrent liabilities

Quick (acid-test) ratio Current assets - Inventory Current liabilities

Activity

Inventory turnover Inventory

Average collection period Accounts receivable Average sales per day

Average payment periodAverage purchases per day

Total assets turnover Total assets

Debt


Current assets

Cost of goods sold

Accounts payable

Sales

Total liabilities

Times interest earned ratio Interest

Profitability

Gross profit margin Gross profits Sales

Operating profit margin Operating profits Sales

Net profit margin Sales

Profitability (cont.)

Earnings per share (EPS)

Return on total assets (ROA)Total assets

Return on common equity

Market

Price/earnings (P/E) ratio Earnings per share

Market/book (M/B) ratio

Earnings before interest and taxes






Book value per share of common stock

Market price per share of sommon stock

Market price per share of common stock

Book value per share of common stock

201118751011163175879

12900333777944

54221216583323

24981293

24688153209368

09368

2.250.91

2011100%60%40%

6.9%18%4%

29%12%2%

0%13%8%5%0%5%

2011

65471954979041681

3568118751917891

20541097917

107493143174

2286237033549

301147099

16359164413989973161

0143174

2011

4.6%13.7%5.5%1.2%

24.9%131.0%12.5%

143.5%68.4%75.1%

100.0%

16.0%

2.6%2.5%

21.0%5.0%

11.4%11.5%27.9%51.1%0.0%

100.0%

2012 2011

38291 3568133175 301141.15 1.18

38291-8068 35681-790433175 301140.91 0.92

117769 1116318068 790414.6 14.12

21163 19549178909/365 187510/365

43.18 38.05

13792 22862109865/365 103727/365

45.82 80.44

178909 187510152644 143174

1.17 1.3

78047 70013152644 143174

51% 49%

6256 24981398 293

15.70% 85.26%

61140 75879178909 187510

34% 40%

3109 21658178909 187510

2% 12%

3788 9368178909 187510

2% 5%

3788 9368

6.7 6.85.6 13.77

3788 9368152644 143174

2% 7%

3788 9368

90 9042.08 104.1

90 901.71 2.25

52.63 40

90 90

1.17 0.9176.92 98.9

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