8 Assets 9 Cash and cash equivalents 10 Short-term investments 11 Accounts Receivable 12 Inventories 13 Total current assets 14 Net fixed assets 15 Total assets 16 I 17 Liabilities and equity 18 Accounts pavable 19 Accruals 20 Notes payable 21 Total current liabilities 22 Long-term debt 23 Total liabilities 24 Common stock 25 Retained Earnings 26 Total common equity 27 Total liabilities and equity 28 29 Joshua & White Technologies December 31 Income Statements 30 (Thousands of Dollars) 31 32 Sales 33 COGS except excluding depr. and am 300,000 298,000 34 Depreciation and Amortization 35 Other operating expenses 36 EBIT 37 Interest Expense 38 EBT 39 Taxes (40%) 40 Net Income 41 42 Common dividends 43 Addition to retained earnings 2017 $21,000$20,000 3,240 48,000 56,000 $161,259 $127,240 218.400 200,000 2018 3,759 52.500 84,000 $33,600$32,000 12,000 6,480 $66,129$50,480 58,320 $133,791 $108,800 183,793178,440 40,000 $245.868 $218440 $379 65932 240 12,600 19,929 67,662 62,075 2017 $420,000 $400,000 2018 18,000 22.000 $72,740$62,000 4460 S67,000 $57,540 23,016 19,660 27,600 5,740 26,800 $18,125 $17,262 $22,075 $17,262 45 Other Data 46 Year-end Stock Price 47 # of shares (Thousands) 2017 $90.00$96.00 4,000 2018 4,052 28 29 Joshua & White Technologies December 31 Income Statements 30 (Thousands of Dollars 31 32 Sales 33 COGS except excluding depr. and am 300,000 298,000 34 Depreciation and Amortization 35 Other operating expenses 36 EBIT 37 Interest Expense 38 EBT 39 Taxes (40%) 40 Net Income 41 42 Common dividends 43 Addition to retained earnings 2018 2017 $420,000 $400,000 18,000 22.000 $72,740$62,000 19,660 276002 0 S67,000 $57,540 2 $18,125 $17,262 $22,075 $17,262 3 1 2018 45 Other Data 46 Year-end Stock Price 47 # of shares (Thousands) 2017 $90.00$96.00 4,000 48 Lease payment (Thousands of Dollars $20,000$20,000 $5,000$5,000 4,052 3 3 49 Sinking fund payment ( 50 s of I 140 f. Perform a percent change analysis. What does this tell you about the change in profitability 141 and asset utilization? 142 143 Percent Change Balance Sheets 44 Assets 145 Cash and cash equivalents 146 Short-term investments 147 Accounts Receivable 148 Inventories 149 Total current assets 150 Net fixed assets 151 Total assets 152 153 154 Liabilities and equity 155 Accounts pavable 156 Accruals 157 Notes payable 158 Total current liabilities 159 Long-term debt 160 Total liabilities 161 Common stock 162 Retained Earnings 163Total common equity 164 Total liabilities and equity 165 166 167 Percent Change Income Statement 168 Sales 169 COGS except excluding depr. and amort. 170 Depreciation and Amortization 171 Other operating expenses 172 EBIT 173 Interest Expense 174 EBT 175 Taxes (40%) 176 Net Income Base 2017 2018 Base 2017 2018 Base 2017 2018 178 179 Build a Model