California Pizza Kitchen opened its first restaurant In Beverly Hills in 1985. Almost immediately after the first location opened, it expanded from California to more than 250 locations in more than 30 states and 11 countries. California Pizza Kitchen completed an initial public offering in August 2000 and traded on the NASDAQ National Market under the ticker symbol CPKI. On July 7, 2011, Golden Gate Capital completed the acquisition of California Pizza Kitchen and, as a result of the acquisition, the company's common stock is no longer publicly traded CALIFORNIA PIZZA KITCHEN, INC.,.AND SUBSIDIARIES Consolidated Statements of Operations Years ended January 2, 2011, January 3, 2010, and December 28, 2008 (amounts in thousands, except for per share data) 2010 2009 2008 Revenues Restaurant sales Royalties from licensing agreement Domestic franchise revenues International franchise revenues $644,061 $665,250 $685,571 7,230 3,602 2,316 6,772 3,945 2,598 8,389 3,529 2,273 Total revenues 657,376 150,747 149,570 679,441 156,196 143,949 698,719 Costs and expenses Food, beverage and paper supplies Labor Direct operating and occupancy 167,541 241,878 249,495 249,421 142,343 Cost of sales General and administrative Depreciation and amortization Pre-opening costs Loss on impairment of property and equipment Store closure costs Litigation, settlement and other costs 542,195549,640 53,716 42,196 2,038 23,266 747 1,674 53,656 39,021 3,464 19,064 1,916 8,824 559,305 54,567 42,314 4,673 13,661 1,241 801 Total costs and expenses 668,140 673,277676,562 (10,764) (15) Operating (loss)/income 6,164 22.157 (1,519) Interest expense, net (LossVincome before income tax (benefit)/provision (10,779) (9,333) 5,181 (2,260) 20,638 4,540 Income tax (benefit)/provision Net (lossVincome S (1,446) 7,441 S 16,098 Net (loss)Vincome per common share Basic $ (0.06) 0.29 $ 0.42 Diluted $ (0.06) 0.29 $ 0.42 Weighted average shares used in calculating net (loss)/income per common share Basic 24.683 24.259 25.388 Diluted 24.683 24.338 25.406 CALIFORNIA PIZZA KITCHEN, INC., AND SUBSIDIARIES Consolidated Balance Sheets January 2, 2011, and January 3 2010 (in thousands, except for share data) 2010 2009 Assets Current assets Cash and cash equivalents Other receivables Inventories Current deferred tax asset, net Prepaid rent Other prepaid expenses S 47,230 19,939 8,942 9,850 556 8,433 47,424 20,886 8,612 8,701 8,012 4,046 97,681 287,661 292,631 26,779 7,677 6,742 8,664 Total current assets 94,950 Property and equipment, net Noncurrent deferred tax asset, net Goodwill Other intangibles, net Other assets 23,869 7,677 6,865 10,068 Total assets $431,090 $440,174 Liabilities and stockholders' equity Current liabilities Accounts payable Accrued compensation and benefits Accrued rent Deferred rent credits Other accrued liabilities Gift card liability Store closure reserve $ 25,720 $ 14,708 25,359 22,355 6,930 34,315 29,090 1,041 25,431 27,392 7,243 37,090 23,327 80 Total current liabilities 146,283 133,798 Long-term debt Other liabilities Deferred rent credits, net of current portion Income taxes payable, net of current portion Commitments and contingencies Stockholders' equity: 23,600 16,091 35,732 11,140 22,758 36,431 644 Common stock-$0.01 par value, 80,000,000 shares authorized, 25,879,797 and 25,495,800 shares issued and outstanding at January 2, 2011, and January 3, 2010, respectively Additional paid-in capital Retained earnings 259 192,563 32,152 255 187,000 32,558 Total stockholders' equity 224,974219,813 Total liabilities and stockholders' equity $431,090 $440,174 Compute the following ratios using information from the company annual report that was issued before California Pizza Kitchen was acquired. (Round your answers to 2 decimal places. Enter percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Negative amounts should be indicated by a minus sign.) a. Current ratio b. Quick ratio c. Profit margin d. Return on equity e. Inventory turnover f. Debt-to-equity g. Earnings per share
