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AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 20Y7 Sales $4,120,485 $3,796,410 Cost of goods sold (1,598,700)
AUTOMOTIVE SOLUTIONS INC. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 | ||||
20Y8 | 20Y7 | |||
Sales | $4,120,485 | $3,796,410 | ||
Cost of goods sold | (1,598,700) | (1,470,800) | ||
Gross profit | $2,521,785 | $2,325,610 | ||
Selling expenses | $(811,780) | $(991,730) | ||
Administrative expenses | (691,515) | (582,440) | ||
Total operating expenses | (1,503,295) | (1,574,170) | ||
Operating income | $1,018,490 | $751,440 | ||
Other revenue and expense: | ||||
Other income | 53,610 | 47,960 | ||
Other expense (interest) | (288,000) | (158,400) | ||
Income before income tax | $784,100 | $641,000 | ||
Income tax expense | (94,100) | (76,900) | ||
Net income | $690,000 | $564,100 |
AUTOMOTIVE SOLUTIONS INC. Comparative Statement of Stockholders Equity For the Years Ended December 31, 20Y8 and 20Y7 | ||||||||||||||||||
20Y8 | 20Y7 | |||||||||||||||||
Preferred Stock | Common Stock | Retained Earnings | Preferred Stock | Common Stock | Retained Earnings | |||||||||||||
Balances, Jan. 1 | $680,000 | $780,000 | $3,236,050 | $680,000 | $780,000 | $2,754,050 | ||||||||||||
Net income | 690,000 | 564,100 | ||||||||||||||||
Dividends: | ||||||||||||||||||
Preferred stock | (11,900) | (11,900) | ||||||||||||||||
Common stock | (70,200) | (70,200) | ||||||||||||||||
Balances, Dec. 31 | $680,000 | $780,000 | $3,843,950 | $680,000 | $780,000 | $3,236,050 |
AUTOMOTIVE SOLUTIONS INC. Comparative Balance Sheet December 31, 20Y8 and 20Y7 | |||||
Dec. 31, 20Y8 | Dec. 31, 20Y7 | ||||
Assets | |||||
Current assets: | |||||
Cash | $914,320 | $589,350 | |||
Temporary investments | 1,383,830 | 976,640 | |||
Accounts receivable (net) | 803,000 | 751,900 | |||
Inventories | 598,600 | 467,200 | |||
Prepaid expenses | 172,982 | 117,870 | |||
Total current assets | $3,872,732 | $2,902,960 | |||
Long-term investments | 1,524,773 | -34,570 | |||
Property, plant, and equipment (net) | 4,680,000 | 4,212,000 | |||
Total assets | $10,077,505 | $7,080,390 | |||
Liabilities | |||||
Current liabilities | $1,173,555 | $404,340 | |||
Long-term liabilities: | |||||
Mortgage note payable, 8%, due in 15 years | $1,620,000 | $0 | |||
Bonds payable, 8%, due in 20 years | 1,980,000 | 1,980,000 | |||
Total long-term liabilities | $3,600,000 | $1,980,000 | |||
Total liabilities | $4,773,555 | $2,384,340 | |||
Stockholders' Equity | |||||
Preferred $0.70 stock, $40 par | $680,000 | $680,000 | |||
Common stock, $10 par | 780,000 | 780,000 | |||
Retained earnings | 3,843,950 | 3,236,050 | |||
Total stockholders' equity | $5,303,950 | $4,696,050 | |||
Total liabilities and stockholders' equity | $10,077,505 | $7,080,390 |
1. Return on common stockholders equity | % | |
2. Earnings per share on common stock | $ | |
3. Price-earnings ratio | ||
4. Dividends per share of common stock | $ | |
5. Dividend yield | % |
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