Question
Joshua & White Technologies: December 31 Balance Sheets (Thousands of Dollars) Assets 2019. 2018 Cash and cash equivalents. $21,000. $20,000 Short-term investments 3,759 3,240 Accounts
Joshua & White Technologies: December 31 Balance Sheets (Thousands of Dollars) Assets
2019. 2018
Cash and cash equivalents. $21,000. $20,000
Short-term investments 3,759 3,240
Accounts Receivable 52,500 48,000
Inventories 84,000 56,000
Total current assets $161,259 $127,240
Net fixed assets 223,097 200,000
Total assets $384,356 $327,240
Liabilities and equity
Accounts payable $33,600 $32,000
Accruals 12,600 12,000
Notes payable 19,929 6,480
Total current liabilities $66,129 $50,480
Long-term debt 67,662 58,320
Total liabilities $133,791 $108,800
Common stock 178,440 178,440
Retained Earnings 72,125 40,000
Total common equity $250,565 $218,440
Total liabilities and equity $384,356 $327,240
Joshua & White Technologies December 31 Income Statements (Thousands of Dollars)
2019. 2018
Sales $420,000 $400,000
COGS except excluding depr. and amort. 300,000 298,000
Depreciation and Amortization 19,660 18,000
Other operating expenses 27,600 22,000
EBIT $72,740 $62,000
Interest Expense 5,740 4,460
EBT $67,000 $57,540
Taxes (25%) 16,750 14,385
Net Income $50,250 $43,155
Common dividends $18,125 $17,262
Addition to retained earnings $32,125 $25,893
Other Data
2019. 2018
Year-end Stock Price $90.00 $96.00 # of shares (Thousands) 4,052 4,000
Lease payment (Thousands of Dollars) $20,000 $20,000
Sinking fund payment (Thousands of Dollars) $5,000 $5,000
Has the companys ability to manage its assets improved or gotten worse, why? Hows does it compare with industry averages?
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