ICARUS Corporation, a manufacturer for a range of aircraft components, supplies financial information for both years 2019 and 2020 (all the numbers, except for share data, are shown in thousands of dollars). Estimated cost of capital for all its financing is 10,5%. ICARUS Corporation Income Statements ($ in thousands) 2019 2020 Sales $3,990 $3,780 Cost of goods sold (2.590) (2.520) $1,400 $1,260 $(574) $(546) (238) (350) $(812) $(896) Gross profits Operating expenses: Selling and G&A expenses Depreciation expenses Total operating expenses Operating profits Interest expense Earnings before taxes Income taxes Net Income $588 $364 (140) (193) $172 $448 (161) (46) $287 $126 ICARUS Corporation Balance Sheets (5 in thousands) ASSETS 2019 2020 $347 641 546 112 Cash Accounts receivable Inventories Other current assets Total current assets Gross fixed assets Accumulated depreciation Net fixed assets Total assets $210 490 420 88 $1,208 $3,255 (1.190) $2,065 $3.273 $1,645 $3.465 (1.540) $1.925 $3.570 $280 $448 210 $658 LIABILITIES (DEBT) AND EQUITY Accounts payable Short-term notes payable Total current liabilities Long-term debt Total liabilities Common equity: Common stock (par & paid in capital) Retained earnings Total common equity Total liabilities and equity 175 $455 875 $1,330 928 $1,586 $770 $770 1.215 1.173 $1943 $1,985 $3273 $3.570 105 105 ICARUS Corporation Additional information: Number of common shares outstanding : Dividends paid to stockholders Market price per share $84 $84 $25,20 $12,60 Based on the topics learnt in class prepare a financial analysis of ICARUS Corporation and its financial performance, comparing the firm's performance between 2 years. For your analysis and evaluation, please consider the following: computation of applicable financial ratios, common sized income statements and balance sheets including changes in absolute amounts & relative figures, pricelearnings and market/book ratios, EVA. All percentages should be rounded to the second decimal place. Interpret your results briefly. ICARUS Corporation, a manufacturer for a range of aircraft components, supplies financial information for both years 2019 and 2020 (all the numbers, except for share data, are shown in thousands of dollars). Estimated cost of capital for all its financing is 10,5%. ICARUS Corporation Income Statements ($ in thousands) 2019 2020 Sales $3,990 $3,780 Cost of goods sold (2.590) (2.520) $1,400 $1,260 $(574) $(546) (238) (350) $(812) $(896) Gross profits Operating expenses: Selling and G&A expenses Depreciation expenses Total operating expenses Operating profits Interest expense Earnings before taxes Income taxes Net Income $588 $364 (140) (193) $172 $448 (161) (46) $287 $126 ICARUS Corporation Balance Sheets (5 in thousands) ASSETS 2019 2020 $347 641 546 112 Cash Accounts receivable Inventories Other current assets Total current assets Gross fixed assets Accumulated depreciation Net fixed assets Total assets $210 490 420 88 $1,208 $3,255 (1.190) $2,065 $3.273 $1,645 $3.465 (1.540) $1.925 $3.570 $280 $448 210 $658 LIABILITIES (DEBT) AND EQUITY Accounts payable Short-term notes payable Total current liabilities Long-term debt Total liabilities Common equity: Common stock (par & paid in capital) Retained earnings Total common equity Total liabilities and equity 175 $455 875 $1,330 928 $1,586 $770 $770 1.215 1.173 $1943 $1,985 $3273 $3.570 105 105 ICARUS Corporation Additional information: Number of common shares outstanding : Dividends paid to stockholders Market price per share $84 $84 $25,20 $12,60 Based on the topics learnt in class prepare a financial analysis of ICARUS Corporation and its financial performance, comparing the firm's performance between 2 years. For your analysis and evaluation, please consider the following: computation of applicable financial ratios, common sized income statements and balance sheets including changes in absolute amounts & relative figures, pricelearnings and market/book ratios, EVA. All percentages should be rounded to the second decimal place. Interpret your results briefly
