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Green Booth is one of the Icading manufacturers of ice-cream in Ontario. The products are sold in the retail market throughout Canada in the form

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Green Booth is one of the Icading manufacturers of ice-cream in Ontario. The products are sold in the retail market throughout Canada in the form of tubs, buckets, scoops and ice cream sticks. The company also services the institutional market: main clients are major international retail operators, who sell its products through their chains Green Booth is one of the best known consumer brands in Ontario and throughout Canada. The company was founded in 1988 by a local entrepreneur, who comes from the family with a long tradition in hand-made production of bakery, pastry products, and ice-cream. He is continuing this tradition with the industrial production of ice-cream in a modem facility. The income statement and balance sheet for the years 2002 and 2003 are included below. Green Booth paid preferred share dividends in 2003 (no common share dividends in 2003). Prepare the cash flow statement for 2003 Income Statement 2002 2003 Net Sales Cost of Goods Sold Selling and Administrative Expenses Amortization Operating Income Interest Expense Earnings Before Taxes Income Tax Net Income 45.000.000 32.000.000 5,000,000 1.500.000 6.500,000 600.000 5.900.000 2,360,000 3,540,000 62,000,000 45.000.000 6.000.000 1.800,000 9,200,000 650,000 8,550,000 3,420,000 5,130,000 Balance Sheet 2002 2003 Assets Cash Marketable Securities Accounts Receivable Inventory Pre-paid Expenses Property. Plant & Equipment, Gross: Less: Accumulated Amortization Property. Plant & Equipment, Net 11.540,000 500.000 6,000,000 8,500,000 400,000 15,000,000 7,500,000 7,500,000 11,520,000 800,000 7,000,000 9,000,000 500.000 18,000,000 9,300,000 8.700,000 Liabilities: Accounts Payable Notes Payable (i.e. Current Liability) Accrued Expenses Long-Term Debt 7,000,000 1,000,000 1,000,000 5,000,000 8,000,000 1,500,000 1.200,000 5,000,000 Shareholders' Equity: Preferred Shares Common Shares Retained Earnings 4,000,000 6,000,000 10,440.000 4,000,000 6,000,000 11.820,000 1. Prepare the cash flow statement for 2003 2. Calculate the following ratios for 2003: current, quick, ROE, debt-to-equity, and times-interest-eared

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