Balance SheetsAssets201720182019Cash$ 9,000 $ 7,282 $ 14,000 Short-Term Investments.48,600 20,000 71,632 Accounts Receivable351,200 632,160 878,000 Inventories715,200 1,287,360 1,716,480 Total Current Assets $ 1,124,000 $ 1,946,802 $ 2,680,112 Gross Fixed Assets491,000 1,202,950 1,220,000 Less: Accumulated Depreciation146,200 263,160 383,160 Net Fixed Assets $ 344,800 $ 939,790 $ 836,840 Total Assets $ 1,468,800 $ 2,886,592 $ 3,516,952 Liabilities And Equity201720182019Accounts Payable $ 145,600 $ 324,000 $ 359,800 Notes Payable200,000 720,000 300,000 Accruals136,000 284,960 380,000 Total Current Liabilities $ 481,600 $ 1,328,960 $ 1,039,800 Long-Term Debt323,432 1,000,000 500,000 Common Stock (100,000 Shares)460,000 460,000 1,680,936 Retained Earnings203,768 97,632 296,216 Total Equity $ 663,768 $ 557,632 $ 1,977,152 Total Liabilities And Equity $ 1,468,800 $ 2,886,592 $ 3,516,952 Income Statements201720182019Sales $ 3,432,000 $ 5,834,400 $ 7,035,600 Cost Of Goods Sold2,864,000 4,980,000 5,800,000 Other Expenses340,000 720,000 612,960 Depreciation18,900 116,960 120,000 Total Operating Costs $ 3,222,900 $ 5,816,960 $ 6,532,960 EBIT $ 209,100 $ 17,440 $ 502,640 Interest Expense62,500 176,000 80,000 EBT $ 146,600 $ (158,560) $ 422,640 Taxes (40%)58,640 (63,424)169,056 Net Income $ 87,960 $ (95,136) $ 253,584 Other Data201720182019Stock Price $ 8.50 $ 6.00 $ 12.17 Shares Outstanding100,000 100,000 250,000 EPS $ 0.880 $ (0.951) $ 1.014 DPS $ 0.220 $ 0.110 $ 0.220 Tax Rate40%40%40%Book Value Per Share $ 6.638 $ 5.576 $ 7.909 Lease Payments $ 40,000 $ 40,000 $ 40,000 Ratio Analysis201720182019Industry AverageCurrent 2.3 1.5 2.7Quick0.8 0.5 1.0Inventory Turnover4.8 4.5 6.1Days Sales Outstanding 37.4 39.5 32.0Fixed Assets Turnover 10.0 6.2 7.0Total Assets Turnover 2.3 2.0 2.5Debt to Invested Capital44.1%75.5%40.0%TIE3.30.16.2Profit Margin2.6%-1.6%3.6%Basic Earning Power14.2%0.6%17.8%ROA6.0%-3.3%9.0%ROE13.3%-17.1%17.9%Price/Earnings (P/E)9.7-6.316.2Market/Book1.31.12