Fair-to-Midland Manufacturing, Inc. (FMM), has applied for a loan at True Credit Bank. Jon Fulkerson, the credit
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Question:
| Fair-to-Midland Manufacturing, Inc. (FMM), has applied for a loan at True Credit Bank. Jon Fulkerson, the credit analyst at the bank, has gathered the following information from the companys financial statements: |
| Total assets | $113,000 |
| EBIT | 8,800 |
| Net working capital | 5,300 |
| Book value of equity | 38,000 |
| Accumulated retained earnings | 18,700 |
| Sales | 111,000 |
| The stock price of FMM is $40 per share and there are 6,900 shares outstanding. What is the Z-score for this company? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) |
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