Assets			2018	2017
Cash			$ 72,000	$ 65,000
Accounts receivable			439,000	328,000
Inventories			894,000	813,000
Total current assets			$ 1,405,000	$ 1,206,000
Land and building			238,000	271,000
Machinery			132,000	133,000
Other fixed assets			61,000	57,000
Total assets			$ 1,836,000	$ 1,667,000
Liabilities and equity
Accounts payable			$ 80,000	$ 72,708
Accrued liabilities			45,010	40,880
Notes payable			476,990	457,912
Total current liabilities			$ 602,000	$ 571,500
Long-term debt			404,290	258,898
Common stock			575,000	575,000
Retained earnings			254,710	261,602
Total liabilities and equity			$ 1,836,000	$ 1,667,000
Tampa Corporation's December 31 Income Statements
			2018	2017
Sales			$ 4,240,000	$ 3,635,000
Cost of goods sold			3,680,000	2,980,000
Gross operating profit			$ 560,000	$ 655,000
General admin. and selling expenses			303,320	297,550
Depreciation			159,000	154,500
EBIT			$ 97,680	$ 202,950
Interest			67,000	43,000
EBT			$ 30,680	$ 159,950
Taxes (40%)			12,272	63,980
Net income			$ 18,408	$ 95,970
Per-Share Data			2018	2017
EPS			$0.80	$4.17
Cash dividends			$1.10	$0.95
Market price (average)			$12.34	$23.57
P/E ratio			15.42	5.65
Number of shares outstanding			23,000	23,000

Ratio Analysis			2018	2017	Industry Avga
Liquidity
Current ratio			?	?	2.7
Asset Management
Inventory turnoverb			?	?	7.0
Days sales outstandingc			?	?	32
Fixed assets turnoverb			?	?	13.0
Total assets turnoverb			?	?	2.6
Profitability
Return on assets			?	?	9.1%
Return on equity			?	?	18.2%
Return on invested capital			?	?	14.5%
Profit margin			?	?	3.5%
Debt Management
Debt-to-capital ratiod			?	?	50.0%
Market Value
P/E ratio			?	?	6.0
M/B ratio			?	?	1.5
a Industry average ratios have been constant for the past 4 years.
b Based on year-end balance sheet figures.
c Calculation is based on a 365-day year.
d Measured as (Short-term debt + Long-term debt)/(Short-term debt + Long-term debt + Common equity).