1 Company) 2 All values are in whole dollars 3 4 Table 1 Balance Sheets 567 6 Assets Cash Accounts receivable, net B C m 2018 2019 2020 2021 8 9 Merchandise Inventory 10 Other current assets $13,110 $9,000 $7,282 $14,000 $296,000 $351,200 $632,160 $878,000 $604,500 $715,200 $1,287,360 $1,716,480 $36,456 $48,600 $20,000 $71,632 11 12 Total assets Property, Plant, & Equipment, net $1,260,946 $1,468,800 $2,886,592 $3,516,952 $310,880 $344,800 $939,790 $836,840 13 14 Liabilities and equity 15 Accounts payable $126,775 $145,600 $324,000 $359,800 16 Short-term Notes payable $150,000 17 Accruals & other current liabilities $86,850 $200,000 $720,000 $136,000 $300,000 $284,960 $380,000 18 Long-term debt $221,360 $323,432 $1,000,000 $500,000 19 Paid-in Capital $460,000 $460,000 $460,000 $1,680,936 $215,961 $203,768 $97,632 $296,216 20 Retained Earnings 21 Total liabilities and equity 22 23 $1,260,946 $1,468,800 $2,886,592 $3,516,952 F 25 Table 2 Income Statements 26 27 Sales 28 Cost of goods sold 29 Operating expenses: 30 Depreciation 31 Selling & Administrative Expense 32 Operating Income 2018 2019 2020 2021 $1,845,000 $3,432,000 $5,834,400 $7,035,600 $1,590,390 $2,864,000 $4,980,000 $5,800,000 $16,300 33 Interest Expense 34 Pre-tax Profit $35,855 $18,900 $116,960 $120,000 $188,000 $340,000 $720,000 $612,960 $50,310 $209,100 $17,440 $502,640 $14,455 $62,500 $176,000 $146,600 -$158,560 $80,000 $422,640 35 Income Tax Expense (Benefit) $14,342 36 Net Income $21,513 $58,640 -$63,424 $169,056 $87,960 -$95,136 $253,584 37 38 39 40 41 Table 3 Other Information 2018 2019 2020 2021 42 43 Dividends Paid $0 $22,000 $11,000 $55,000 $12.80 $8.50 $6.00 $12.17 44 Stock price 45 Avg. Shares outstanding 100,000 100,000 100,000 250,000 46 Effective Tax Rate 40.00% 40.00% 40.00% 47 Disposal of Property, Plant, & Equipment $0 $0 $0 40.00% $0 24 Common-size Analysis 2021 2019 14,000 78,000 16,480 71,632 336,840 16,952 359,800 300,000 880,000 500,000 580,936 296,216 516,952 2020 M Horizontal Analysis 2021 2019 2020 2021 Common fire Analysis Horizontal Analysis Common-size Analysis 2021 2019 $7,035,600 $5,800,000 $120,000 $612.960 $502,640 $80.000 $422,640 $169,056 $253,584 2021 $55,000 $12.17 250,000 40.00% 2020 Horizontal Analysis 2021 2019 2020 2021 Working Capital Current Ratio Quick Ratio A/R Turnover Average Collection Period Inventory Turnover Average Sale Period Operating Cycle Total Asset Turnover Times Interest Earned Debt-to-Equity Equity Multiplier Gross Margin Ratio Analysis 2020 2021 Industry Avg. N/A 2.7 1.0 15.0 24.3 6.1 59.8 84.2 2.5 6.2 2.0 1.8 22.0% Net Profit Margin 3.9% Return on Total Assets 9.0% Return on Equity 17.9% Earnings per Share PE Ratio $0.96 16.2 Dividend Payout N/A Dividend Yield 1.50% Book Value per Share N/A Operating Activities Net Income Depreciation Statement of Cash Flows Changes in Current Accounts Net Cash from Operations + 2020 2021 0 Investing Activties Net Cash from Investing $0 $0 Financing Activities Net Cash from Financing $0 $0 Net Cash Flow 0 0 Beg. Cash End. Cash Free Cash Flow Free Cash Flow +