Financial Statements
ABC Inc.
	Dec. 31, 2017		Dec. 31, 2018		Dec. 31, 2019
Balance Sheet (in thousands)	$		$		$
Assets
Cash & cash equivalents	1,512		1,176		1,097
Accounts receivable	6,237		10,271		15,919
Inventories	4,536		7,838		12,570
Prepaid expenses	3,780		5,140		6,840
Total current assets	16,065		24,425		36,426
Gross fixed assets	6,300		9,080		12,918
Less: Accumulated depreciation	2,050		2,958		4,250
Net Fixed assets	4,250		6,122		8,668
Intangible assets	567		588		605
All other noncurrent assets	1,323		1,790		1,985
Total assets	22,205		32,925		47,684
Liabilities and Stockholders' Equity
Accounts payable	3,570		5,958		9,955
Notes payable	1,205		3,243		6,323
Current maturities--L.T.D.	1,008		1,460		2,246
Income taxes payable	84		336		336
Accruals and other current liabilities	1,995		3,360		5,016
Total current liabilities	7,862		14,357		23,876
Long-term debt	2,940		6,100		9,350
Total liabilities	10,802		20,457		33,226
Stockholders' Equity
Paid-in capital	3,360		3,360		3,360
Additional paid-in capital	2,100		2,100		2,100
Retained earnings	5,943		7,008		8,998
Total stockholders' equity	11,403		12,468		14,458
Total liabilities & stockholders' equity	22,205		32,925		47,684
	2017		2018		2019
Income Statement (in thousands)	$		$		$
Sales revenue	50,400		65,100		81,312
Less: Cost of goods sold	35,431		45,872		57,098
Gross profit	14,969		19,228		24,214
Less: Operating expenses
General, Adminstration and Selling Expenses	12,331		15,099		17,296
Depreciation expense	630		908		1,292
Total operating expenses	12,961		16,007		18,588
Operating income (EBIT)	2,008		3,221		5,626
Less: Interest expense	335		756		1,343
Earnings before taxes (EBT)	1,673		2,465		4,283
Less: Income Taxes (34%)	569		838		1,456
Net income	1,104		1,627		2,827
	2017		2018		2019
Selected Data from Cash Flow Statement (in thousands)	$		$		$
Net cash from operating activities	(1,980)		(2,156)		(2,308)
Net cash from investment activities	(2,975)		(3,268)		(4,050)
Net cash from financing activities	4,890		5,088		6,279
Additional Data
Number shares common stock outstanding (in thousands)	1,120		1,120		1,120
Stock price per common share at the year end	$17.25		$17.71		$18.43
Financial Ratios	2017		2018		2019
Liquidity
Current ratio (times)	2.04		1.70		1.53
Quick or Acid-test ratio (times)	1512.79		24424.45		36425.47
Asset Management	11.86		1.98		1.71
Accounts receivable turnover (times)	8.08		2.38		5.11
Inventory turnover (times)	7.81		5.85		6.47
Total assets turnover	1.00		1.98		38411.00
Solvency	0.132402612		1.977220957		2,826.81
Debt ratio (%)	0.49		0.19		12176.91
Times interest earned (times)	4.99		4.26		4.19
Profitability	0.021908333				0.03476461
Operating income %	2008.00		19228.00		0.00
Return on assets (%) [before tax]	0.05		0.05		0.06
Return on equity (%) [before tax]	0.10		0.13		0.20
Earnings per common share (EPS)	0.99		1.45		2.52
Market analysis ratio
Price-earnings ratio (times)	0.02		0.01		0.01