Assets			2017	2016
Cash and cash equivalents			$27,893	$26,565
Short-term investments			$4,990	4,304
Accounts Receivable			$69,733	63,756
Inventories			$111,573	74,382
Total current assets			$214,190	$169,007
Net fixed assets			$290,092	265,650
Total assets			$504,282	$434,657
Liabilities and equity
Accounts payable			$44,629	$42,504
Accruals			$16,736	$15,939
Notes payable			$26,470	$8,607
Total current liabilities			$87,835	$67,050
Long-term debt			$89,872	$77,464
Total liabilities			$177,707	$144,514
Common stock			$244,123	$237,013
Retained Earnings			$82,451	$53,130
Total common equity			$326,575	$290,143
Total liabilities and equity			$504,282	$434,657
Joshua & White Technologies December 31 Income Statements
(Thousands of Dollars)
			2017	2016
Sales			$548,486	$522,368
COGS except excluding depr. and amort.			$391,776	$389,164
Depreciation and Amortization			$25,675	$23,507
Other operating expenses			$36,036	$28,730
EBIT			$95,000	$80,967
Interest Expense			$7,491	$5,495
EBT			$87,509	$75,472
Taxes (40%)			$35,004	$30,189
Net Income			$52,505	$45,283
Common dividends			$26,253	$22,642
Addition to retained earnings			$26,253	$22,642
Other Data			2017	2016
Year-end Stock Price			$114.00	$110.00
# of shares (Thousands)			4,300	4,150
Lease payment (Thousands of Dollars)			$20,000	$20,000
Sinking fund payment (Thousands of Dollars)			$5,000	$5,000

PLEASE CALCULATE RATIOS:

Ratio Analysis			2017	2016	Industry Avg
Liquidity Ratios
Current Ratio					2.58
Quick Ratio					1.53
Asset Management Ratios
Inventory Turnover (Total COGS/Inventories)					7.69
Days Sales Outstanding					47.45
Fixed Assets Turnover					2.04
Total Assets Turnover					1.23
Debt Management Ratios
Debt Ratio (Total debt-to-assets)					20.0%
Liabilities-to-assets ratio					32.1%
Times-interest-earned ratio					15.33
EBITDA coverage ratio					4.18
Profitability Ratios
Profit Margin					8.86%
Basic Earning Power					19.48%
Return on Assets					10.93%
Return on Equity					16.10%
Market Value Ratios
Earnings per share					NA
Price-to-earnings ratio					10.65
Cash flow per share					NA
Price-to-cash flow ratio					7.11
Book Value per share					NA
Market-to-book ratio					1.72