Conduct a ratio analysis of Spatial Technologys past income statements and balance sheets.Note any performance strengths and weaknesses and discuss any ratio trends.As the project at hand will involve valuing Spatial, we have chosen to concentrate our ratio analysis on percent of sales.The following is the historical presentation of the income statement and balance sheet percent-of-sales ratios.

Case 2: Spatial Technology, Inc. 661 660 Part 7: Capatone Cases Exhibit 5b Balance Sheets LIABIUTIES AND STOCKHOLDERS' DEFICIT Exhibit 5 a Income Statements YEAA ENDED DECEMAEA 31, \begin{tabular}{lccrr} \hline 1991 & 1992 & 1993 & 1994 & 1995 \\ & (IN THOUSANDS, EXCEPT PER SHARE DATA) \end{tabular} Statements of Operations Deta Revenue Source: Spatial Tedinology frospectis