Balance Sheets 2015 2016 2017E Assets Cash $ 9.000 7,282 $ 14,000 Short-term investments 48,600 20.000 71.632 Accounts receivable 351,200 632,160 878.000 Inventories 715,200 1,287,360 1,716 480 Total current assets $1,124,000 $1.946,802 $2,680,112 Gross fixed assets 491,000 1,202,950 1,220,000 Less: Accumulated depreciation 146,200 263,160 383, 160 Net fixed assets $ 344,800 $ 939,790 $836,840 Total assets $1,468,800 $2 886,592 $3,516.952 Liabilities and Equity 2015 2016 2017E Accounts payable $ 145,600 $ 324.000 $ 359.800 Notes payable 200,000 720,000 300,000 Accruals 136,000 284,960 380.000 Total current liabilities $ 481,600 $1,328,960 $1,039,800 Long-term debt 323,432 1,000,000 500,000 Common stock (100,000 shares) 460,000 460,000 1,680,936 Retained earnings 203 768 97 632 296,216 Total equity 643 768 $ 557-632 $1.977,152 Total liabilities and equity $1,468,800 $2 886 592 $3 516.952 Note "" denotes "estimated's the 2017 dats we forecuts. Income Statements 2015 2016 2017E Sales $3,432,000 $5,834,400 $7.035,600 Cost of goods sold except depr. 2,864,000 4,980,000 5,800,000 Depreciation and amortization 18,900 116,960 120.000 Other expenses 340,000 720 000 612 960 Total operating costs $3,222,900 $5,816,960 $6 532,960 EBIT $ 209,100 $ 17.440 - 502,640 Interest expense 62,500 176,000 80 000 Pre-tax earnings 146,600 ($ 158.560) $ 422,640 Taxes (40%) 58,640 (63 424) 169,056 Net income 87.960 95,136) 253.584 Note "T smaine "satiated": the 1017 diba are famousOther Data 2015 2016 Stock price 18.50 $12.17 Shares outstanding 100 000 100,000 250.000 EPS 50.880 $0.951 $1.014 DPS 40.230 $0.110 50 320 Tax rate 40% Book value per share $5.676 $7.909 Lease payments $40.000 $40,000 Ratio Analysis Industry 2015 2016 Qrrent 1.5 2.7 Quick L.0 Inventory turnover Days sales outstanding 32.0 Fixed assets turnover 10.0 7.0 Total assets turnover 3.5 Debt ratio 59.67 32 ON Liabilities-to-assets ratio 5OOH TIE 0.1 6.2 EBITDA coverage .6 8.0 Profit margin Basic earning power 14.316 17.8% ROA ROE 13.34 -17.14 179% Price/Earnings (P/B) 162 Price/Cash flow 275 Market/Book