Equinox Services Inc. provides a range of business consultancy services. Its financial statements for the last two years are given in Exhibit 5.15.

Transcribed Image Text:

Exhibit 5.15 Equinox Services Inc. Statement of Comprehensive Income (in $thousands) 2012 2011 Income $34,000 $29,000 Less expenses 16,500 13,000 Operating profit before interest 17,500 16,000 Less interest expense 4,000 2,700 Profit before taxes 13,500 13,300 Tax expense Net profit after taxes 5,400 5,320 8,100 7,980 Less dividends paid 4,000 3,750 Retained profits $4,100 $4,230 Number of shares issued 10,000,000 10,000,000 Earnings per share $0.81 $0.80 Dividend per share 0.40 0.38 Market price of shares 8.55 10.20 Equinox Services Inc. Statement of Financial Position (in Sthousands)