Formulas needed....

\begin{tabular}{|l|c|} \hline Build a Model \\ \hline Chapter: & 3 \\ \hline Problem: & 15 \\ \hline \end{tabular} Joshua \& White Technologies: December 31 Balance Sheets (Thousands of Dollars) Joshua \& White Technologies December 31 Income Statements (Thousands of Dollars) \begin{tabular}{l|r|r|} Ratio Analysis & 2019 & 2018 Industry Avg \\ \cline { 3 } -iquidity Ratios & \\ \hline Current Ratio & 2.58 \\ \hline Quick Ratio & 1.53 \\ \hline Isset Management Ratios & \\ \hline Inventory Turnover (Total COGS/lnventories) & 7.69 \\ \hline Days Sales Outstanding & 47.45 \\ \hline Fixed Assets Turnover & 2.04 \\ \hline Total Assets Turnover & 1.23 \\ \hline Sebt Management Ratios & \\ \hline Debt Ratio (Total debt-to-assets) & 20.0% \\ \hline Liabilities-to-assets ratio & 32.1% \\ \hline Times-interest-earned ratio & 15.33 \\ \hline EBITDA coverage ratio & 4.18 \\ \hline rofitability Ratios & 8.86% \\ \hline Profit Margin & 19.48% \\ \hline Basic Earning Power & 10.93% \\ \hline Return on Assets & 16.10% \\ \hline Return on Equity & \\ \hline larket Value Ratios & NA \\ \hline Earnings per share & 10.65 \\ \hline Price-to-earnings ratio & NA \\ \hline Cash flow per share & 7.11 \\ \hline Price-to-cash flow ratio & NA \\ \hline Book Value per share & 1.72 \\ \hline Market-to-book ratio & \\ \hline \end{tabular} a. Has Joshua \& White's liquidity position improved or worsened? Explain. b. Has Joshua \& White's ability to manage its assets improved or worsened? Explain. c. How has Joshua \& White's profitability changed during the last year? d. Perform an extended Du Pont analysis for Joshua \& White for each year. \begin{tabular}{|l|r|r|cc} \hline & ROE = & PM & TA Turnover & x Equity Multiplier \\ \hline 2019 & 20.05% & 11.96% & 1.09 & 1.53 \\ \hline 2018 & 19.76% & 10.79% & 1.22 & 1.50 \\ \hline & & & & \end{tabular} Common Size Balance Sheets Taxes (25\%) Net Income f. Perform a percent change analysis. What does this tell you about the change in profitability and asset utilization? \begin{tabular}{l} Percent Change Balance Sheets \\ \hline Assets \\ \hline Cash and cash equivalents \\ \hline Short-term investments \\ \hline Accounts Receivable \\ \hline Inventories \\ \hline Total current assets \\ \hline Net fixed assets \\ \hline Total assets \\ \hline Liabilities and equity \\ \hline Accounts payable \\ \hline Accruals \\ \hline Notes payable \\ \hline Total current liabilities \\ \hline Long-term debt \\ \hline Total liabilities \\ \hline Common stock \\ \hline Retained Earnings \end{tabular} Retained Earnings Total common equity Total liabilities and equity \begin{tabular}{|lrr} & & Base \\ \hline Percent Change Income Statemen1 2019 & 2018 \\ \hline \end{tabular} COGS except excluding depr. and amort. Depreciation and Amortization Other operating expenses EBIT Interest Expense EBT Taxes (25\%) Net Income \begin{tabular}{|l|c|} \hline Build a Model \\ \hline Chapter: & 3 \\ \hline Problem: & 15 \\ \hline \end{tabular} Joshua \& White Technologies: December 31 Balance Sheets (Thousands of Dollars) Joshua \& White Technologies December 31 Income Statements (Thousands of Dollars) \begin{tabular}{l|r|r|} Ratio Analysis & 2019 & 2018 Industry Avg \\ \cline { 3 } -iquidity Ratios & \\ \hline Current Ratio & 2.58 \\ \hline Quick Ratio & 1.53 \\ \hline Isset Management Ratios & \\ \hline Inventory Turnover (Total COGS/lnventories) & 7.69 \\ \hline Days Sales Outstanding & 47.45 \\ \hline Fixed Assets Turnover & 2.04 \\ \hline Total Assets Turnover & 1.23 \\ \hline Sebt Management Ratios & \\ \hline Debt Ratio (Total debt-to-assets) & 20.0% \\ \hline Liabilities-to-assets ratio & 32.1% \\ \hline Times-interest-earned ratio & 15.33 \\ \hline EBITDA coverage ratio & 4.18 \\ \hline rofitability Ratios & 8.86% \\ \hline Profit Margin & 19.48% \\ \hline Basic Earning Power & 10.93% \\ \hline Return on Assets & 16.10% \\ \hline Return on Equity & \\ \hline larket Value Ratios & NA \\ \hline Earnings per share & 10.65 \\ \hline Price-to-earnings ratio & NA \\ \hline Cash flow per share & 7.11 \\ \hline Price-to-cash flow ratio & NA \\ \hline Book Value per share & 1.72 \\ \hline Market-to-book ratio & \\ \hline \end{tabular} a. Has Joshua \& White's liquidity position improved or worsened? Explain. b. Has Joshua \& White's ability to manage its assets improved or worsened? Explain. c. How has Joshua \& White's profitability changed during the last year? d. Perform an extended Du Pont analysis for Joshua \& White for each year. \begin{tabular}{|l|r|r|cc} \hline & ROE = & PM & TA Turnover & x Equity Multiplier \\ \hline 2019 & 20.05% & 11.96% & 1.09 & 1.53 \\ \hline 2018 & 19.76% & 10.79% & 1.22 & 1.50 \\ \hline & & & & \end{tabular} Common Size Balance Sheets Taxes (25\%) Net Income f. Perform a percent change analysis. What does this tell you about the change in profitability and asset utilization? \begin{tabular}{l} Percent Change Balance Sheets \\ \hline Assets \\ \hline Cash and cash equivalents \\ \hline Short-term investments \\ \hline Accounts Receivable \\ \hline Inventories \\ \hline Total current assets \\ \hline Net fixed assets \\ \hline Total assets \\ \hline Liabilities and equity \\ \hline Accounts payable \\ \hline Accruals \\ \hline Notes payable \\ \hline Total current liabilities \\ \hline Long-term debt \\ \hline Total liabilities \\ \hline Common stock \\ \hline Retained Earnings \end{tabular} Retained Earnings Total common equity Total liabilities and equity \begin{tabular}{|lrr} & & Base \\ \hline Percent Change Income Statemen1 2019 & 2018 \\ \hline \end{tabular} COGS except excluding depr. and amort. Depreciation and Amortization Other operating expenses EBIT Interest Expense EBT Taxes (25\%) Net Income