Question
Balance Sheet (Dollars in thousands) 2005 2004 2003 2002 Assets Current Assets: Cash and Cash Equivalents $272,640 $82,540 $321,390 $281,750 Receivables 12,090 3,480 7,550 2,740
Balance Sheet
(Dollars in thousands) 2005 2004 2003 2002
Assets
Current Assets:
Cash and Cash Equivalents $272,640 $82,540 $321,390 $281,750
Receivables 12,090 3,480 7,550 2,740
Inventory 738,630 857,090 668,200 464,440
Prepaid Expenses 54,880 54,030 39,670 33,630
Total Current Assets 1,078,240 997,140 1,036,810 782,560
Property, Plant & Equipment (at cost):
Land and Buildings 531,270 383,350 312,670 151,140
Fixtures and equipment 476,460 411,230 251,920 219,740
Leasehold improvements 16,460 15,120 12,340 9,080
Construction in progress ---- 46,370 32,800 6,740
Less Accumulated Depreciation (248,430) (183,890) (135,020) (99,470)
Property, Plant & Equipment, net 775,760 672,180 474,710 287,230
Total Assets $1,854,000 $1,669,320 $1,511,520 $1,069,790
Liabilities and Stockholders' Equity
Current Liabilities:
Accounts Payable $377,970 $244,150 $259,040 $212,223
Advance Payment on Orders 4,460 2,030 3,500 4,530
Income Taxes Payable 70,800 53,020 103,970 53,940
Other Current Obligations 154,510 139,950 148,790 117,900
Total Current Liabilities 607,740 439,150 515,300 388,600
Long-Term Debt 78,000 84,130 76,740 86,670
Stockholders' Equity:
Common Stock; 20.1M, 20.1M &20.0M
Shares, respectively, at par
2,010 2,010 2,000 2,000
Additional Capital, net 311,360 307,810 293,080 223,080
Retained Earnings 983,810 875,160 624,400 341,666
Less Treasury Stock, at cost (128,920) (38,940) ---- ----
Total Stockholders' Equity 1,168,260 1,146,040 919,480 566,740
Total Liabilities and Equity $1,854,000 $1,669,320 $1,511,520 $1,069,790
Income Statement
(Dollars in thousands) 2005 2004 2003 2002
Net Sales $6,039,750 $5,452,010 $4,558,060 $3,362,910
Cost of Goods 3,573,070 3,135,730 2,616,710 1,903,480
Gross Profit 2,466,680 2,316,280 1,941,350 1,459,430
Selling, General and Administrative 2,221,540 1,849,100 1,434,860 1,076,990
Expenses (including depreciation)
Income from Operations 245,140 467,180 506,490 382,440
Other Income (expenses):
Interest and other income 14,470 19,510 27,250 14,410
Interest Expense
(10,180) (13,990) (12,320) (13,570)
Income Before Income Taxes 249,430 472,700 521,420 383,280
Income Tax Provision
102,000 181,990 198,600 162,080
Net Income $147,430 $290,710 $322,820 $221,200
1. Please indicate for each year what is the:
a) Total Assets
b) Total Liabilities
c) Total Equity
d) Total Current Assets
e) Total Receivables
f) Total Payable
2. What is in percentage the volume of receivables out of the current assets?
3. What is in percentage the volume of cash out of the current assets?
4. Please give your interpretation after getting these two percentages.
2, Please calculate the following for all the years, and Explain the results
a) Working Capital
b) Financial Leverage
c) The Gross Income
d) The Net Income
3
Based on the Balance Sheet and Income Statement, please prepare the Cash Flow Report for the last three years
4
a) Please calculate the solvency ratios for all the years
b) Based on the results obtained, give your interpretation
5
a) Please calculate the profitability ratios for all the years
b) Based on the results obtained, give your interpretation
6
a) Please calculate the performance ratios for all the years
b) Based on the results obtained, give your interpretation
7
a) Please calculate the investment ratios for all the years
b) Based on the results obtained, give your interpretation
8
Based on all the previous ratios, analyze the variation of each ratio from year to year and give your explanation for each one. Put this in an appropriate chart.
9
Please read the Shareholders Equity Section of the Balance Sheet and explain your understanding to the composition of the Equity.
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