GRANITE CONSTRUCTION INCORPORATED CONSOLIDATED STATEMENTS OF INCOME 2003 (000) Ravenue Construction Material sales Total revenue $ 1,591,746 252.745 1.844.491 Cost of revenue: Construction Material sales Total cost of revenue Gross Profit 1,413,538 204,503 1,618.041 226,450 151.879 74.571 General and administrative expenses Operating income Other income (expense): Interest income Interest expense Gain on sales of property and equipment Equity in income of affiliates Other, net 6.422 -8.577 4.714 17.657 2.738 22.954 97.525 35,304 62 221 Income before provision for income taxes and minority interest Provision for income taxes Income before minority interest Minority interest in consolidated subsidiaries Net income $ 60.504 FIGURE 6-7 Income Statement for Granite Construction, Inc (Sourde www.se 2002 2003 1000) 1000 ASSETS Current assets Cash and cash equivalents Short-term marketable securities Accounts receivable net Costs and estimated earnings in excess of blings Inventores Dotarred income taxos Equity in construction joint ventures Other current assets Total current assets $ 69.919 90 869 288.210 31.189 29.878 22.421 42.250 43.915 618.651 $ 52.032 96.900 255.896 42.966 29.984 23.056 24.329 12.732 547.895 41.197 18 295 37 533 $ 100 410 347.963 33.762 18.970 35.229 $ 983 819 Property and equipment, net Long-term marketable securities Investments in affiliates Other assets Total Assots LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current maturities of cong-term cent Accounts payable Billings in excess of costs and estimated earnings Accrued expenses and other current liabilities Total current abilities $8.182 135 468 99337 105.717 348.704 58 540 118.813 105,725 94.321 327 499 126.708 24938 44 297 132 380 13.742 40.011 10.872 555 519 15.318 528 950 Long-term debt Other long-term abilities Deferred income taxes Commitments and contingencias Minority interest in consolidated subsidarios Total bites Stockholders equity Common stock Additional paid in capital Betained earnings Accumulated other comprehensive income (oss) Uncanned compensation Total Equity Total Liabilities and Equity 413 415 73,651 442272 76 - 11.523 504 891 $ 1.060410 69 390 398 380 - 1.402 - 11.915 454.869 $ 983 819 BREAK DOWN OF ACCOUNTS RECEIVABLE 2003 2002 1000) 1000) Construction Contracts: Completed and in progress 179,019 141,748 Retention 76,508 97 120 Total Construction Contracto 255,527 238 868 2003 2002 1000 1000) Land 53.583 50.697 Quarry property 75.329 75,459 Buildings and leasehold improvements 64 276 59,229 Equipment and vehicles 090.657 056,857 Office furniture and equipment 13.926 11,782 Total Property and Equipment 900,771 854024 Construction material sales Other Subtotal 29,690 26.176 4,238 3.071 289,455 268.115 556 037 506061 Loss accumulated depreciation depletion and amortization Not Property and Equipment 344,734 347.963 Less, allowance for doubtful accounts Total 1.245 2219 288.210 265.896 FIGURE 6-10 Breakdown of Property and Equipment for QUESTION 12 Determine the gross profit margin. QUESTION 13 Determine the general overhead ratio. QUESTION 14 Determine the pretax profit margin QUESTION 15 Determine the pre-tax return on assets QUESTION 16 Determine the pretax return on equity QUESTION 17 Determine the degree of fixed asset newness. QUESTION 7 Determine the collection period with retention QUESTION 8 Determine the average age of accounts payable. QUESTION 9 Determine the assets to revenues ratio. QUESTION 10 Determine the working capital turns QUESTION 11 Determine the accounts payable to revenue GRANITE CONSTRUCTION INCORPORATED CONSOLIDATED STATEMENTS OF INCOME 2003 (000) Ravenue Construction Material sales Total revenue $ 1,591,746 252.745 1.844.491 Cost of revenue: Construction Material sales Total cost of revenue Gross Profit 1,413,538 204,503 1,618.041 226,450 151.879 74.571 General and administrative expenses Operating income Other income (expense): Interest income Interest expense Gain on sales of property and equipment Equity in income of affiliates Other, net 6.422 -8.577 4.714 17.657 2.738 22.954 97.525 35,304 62 221 Income before provision for income taxes and minority interest Provision for income taxes Income before minority interest Minority interest in consolidated subsidiaries Net income $ 60.504 FIGURE 6-7 Income Statement for Granite Construction, Inc (Sourde www.se 2002 2003 1000) 1000 ASSETS Current assets Cash and cash equivalents Short-term marketable securities Accounts receivable net Costs and estimated earnings in excess of blings Inventores Dotarred income taxos Equity in construction joint ventures Other current assets Total current assets $ 69.919 90 869 288.210 31.189 29.878 22.421 42.250 43.915 618.651 $ 52.032 96.900 255.896 42.966 29.984 23.056 24.329 12.732 547.895 41.197 18 295 37 533 $ 100 410 347.963 33.762 18.970 35.229 $ 983 819 Property and equipment, net Long-term marketable securities Investments in affiliates Other assets Total Assots LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current maturities of cong-term cent Accounts payable Billings in excess of costs and estimated earnings Accrued expenses and other current liabilities Total current abilities $8.182 135 468 99337 105.717 348.704 58 540 118.813 105,725 94.321 327 499 126.708 24938 44 297 132 380 13.742 40.011 10.872 555 519 15.318 528 950 Long-term debt Other long-term abilities Deferred income taxes Commitments and contingencias Minority interest in consolidated subsidarios Total bites Stockholders equity Common stock Additional paid in capital Betained earnings Accumulated other comprehensive income (oss) Uncanned compensation Total Equity Total Liabilities and Equity 413 415 73,651 442272 76 - 11.523 504 891 $ 1.060410 69 390 398 380 - 1.402 - 11.915 454.869 $ 983 819 BREAK DOWN OF ACCOUNTS RECEIVABLE 2003 2002 1000) 1000) Construction Contracts: Completed and in progress 179,019 141,748 Retention 76,508 97 120 Total Construction Contracto 255,527 238 868 2003 2002 1000 1000) Land 53.583 50.697 Quarry property 75.329 75,459 Buildings and leasehold improvements 64 276 59,229 Equipment and vehicles 090.657 056,857 Office furniture and equipment 13.926 11,782 Total Property and Equipment 900,771 854024 Construction material sales Other Subtotal 29,690 26.176 4,238 3.071 289,455 268.115 556 037 506061 Loss accumulated depreciation depletion and amortization Not Property and Equipment 344,734 347.963 Less, allowance for doubtful accounts Total 1.245 2219 288.210 265.896 FIGURE 6-10 Breakdown of Property and Equipment for QUESTION 12 Determine the gross profit margin. QUESTION 13 Determine the general overhead ratio. QUESTION 14 Determine the pretax profit margin QUESTION 15 Determine the pre-tax return on assets QUESTION 16 Determine the pretax return on equity QUESTION 17 Determine the degree of fixed asset newness. QUESTION 7 Determine the collection period with retention QUESTION 8 Determine the average age of accounts payable. QUESTION 9 Determine the assets to revenues ratio. QUESTION 10 Determine the working capital turns QUESTION 11 Determine the accounts payable to revenue