28. See Table 2.5 showing financial statement data and stock price data for Mydeco Corp. a. What were Mydeco's gross margins each year? b. Comparing Mydeco's gross margin, EBIT margin, and net profit margin in 2012 to 2016, which margins improved? TABLE 2.5 2012-2016 Financial Statement Data and Stock Price Data for Mydeco Corp. Mydeco Corp. 2012-2016 (All data as of fiscal year end; in S million) Income Statement 2012 2013 2014 2015 2016 Revenue 401.9 361.6 429.6 513,6 602.6 Cost of Goods Sold (192.1) (175.4) (2071) (2483) (295.8) Gross Profit 209.8 186.2 222.5 265.3 306,8 Sales and Marketing 165.0) 64.4) (84,3) (104.9) (121.1) Administration (61.8) (57.1) (59.0) (66.9) (79.8) Depreciation & Amortization (27.5) (26,3) (32.5) (38.3) (40.1) EBIT 55.5 38.4 46.7 55.2 65.8 Interest Income (Expense) (32.4) (31.8) (32.0) (370) (40.9) Pretax Income 23.1 6,6 14.7 18.2 24.9 Income Tax (8.1) (2.3) (5.1) (6.4 (8.7 Net Income 15.0 4.3 9.6 11.8 16.2 Shares outstanding (millions) 56.8 56.8 56.8 56.8 56,8 Earning per share $0.26 50.08 $0.17 50.21 $0.29 Balance Sheet 2012 2013 2014 2015 2016 Assets Cash 49.4 68.0 91.7 80.4 83.6 Accounts Receivable 87.6 70.6 69.3 77.4 84.2 Inventory 33.5 322 273 30.2 35.8 Total Current Assets 170.5 170.8 188.3 188.0 203.6 Net Property. Plant & Equip. 244.3 2433 306.1 349.6 347.9 Goodwill & Intangibles 365.5 365.5 365.5 365.5 365.5 Total Assets 780,3 779.6 859.9 903.1 917.0 Liabilities - Stockholders' Equity Accounts Payable 18.8 18.8 22.4 27.1 30.3 Accrued Compensation 7.6 63 7.5 7.7 9.4 Total Current Liabilities 26.4 25.1 29.9 34.8 39.7 Long-term Debt 498.9 498.9 5722 597.5 5975 Total Liabilities 5253 524 602.1 6323 637.2 Stockholders' Equity 255.0 255.6 2578 270.8 279.8 Total Liabilities 780.3 779.6 859.9 903.1 917.0 & Stockholders' Equity Statement of Cash Flows 2012 2013 2014 2015 2016 Net Income 15.0 9.6 11.8 Depreciation & Amortization 27.5 26.3 32.5 38.3 40.1 Chg, in Accounts Receivable 3.9 17.0 13 (8.1) (6.8) Chg, in Inventory (2.9) 13 4.9 (2.9) (5.6 Chg. in Payables & Accrued Comp. 1.7 (1.3) 4.8 4.9 4.9 Cash from Operations 45.2 47.6 53.1 44.0 48.8 Capital Expenditures (266) (238) 1975) 075.4) (40.0) Cash from Investing Activities (26.6) (23.8) 197.5) 75.4) (40.0 Dividends Paid (5.2) (5.2) 15.2) (5.2) (5.6) Sale (or purchase) of stock Debt Issuance (Pay Down) 733 25.3 Cash from Financing Activities (5.2) 5.2) 68.1 20.1 (5.6) Change in Cash 134 18.6 23.7 (11.3) 3.2 Mydee Stack Price $7.02 $3.55 $5.86 $8.33 $11.57 16.2
