Income Statement for year 2011 2010 Net Sales Revenue (all Credit Sales) 230,000 200,000 Cost of Goods Sold 165,000 150,000 Gross Profit 65,000 50,000 Salaries & admin Expense 9,500 10,000 Depreciation Expense 14,500 14,000 Income before Tax 41,000 26,000 Tax expense 11,000 5,000 Net Income 30,000 21,000 Shares Outstanding 150,000 150,000 Stock Price $ 15.00 $ 12.00 Balance sheet @ year end 2011 2010 Current Assets Cash 33,000 20,000 Accounts Receivables, net (2009 ending 20,000) 33,000 14,000 Inventory (2009 ending 25,000) 27,000 20,000 Total Current Assets 93,000 54,000 Property Plant & Equipment 60,000 78,000 Accumulated depreciation (29,000) (24,000) Total Assets 124,000 108,000 Accounts Payable 29,000 15,000 Income Tax Payable 7,000 8,000 Total Current Liabilities 36,000 23,000 Bonds Payable 27,000 33,000 Total Liabilities 63,000 56,000 Common Stock 18,000 14,000 Retained Earnings 43,000 38,000 Total Liabilities and Shareholders Equity 124,000 108,000 Find: 2011 2010 1 Current Ratio 2 Price/Earnings Ratio 3 Accounts Receivable Turnover 4 Inventory Turnover 5 Earning per share (Ignore Dividends) 6 Quick ratio (Acid Test) 7 Debt Ratio 8 Do a Horizontal Analysis of the Balance sheet above - difference and % Do it right next to the Balance Sheet 9 Do a Vertical analysis of the Income Statement above Do it right next to the income statement 2011 and 2010