PIE					PIE				In this short space just provide your analysis on each ratio
Income Statement					Ratio Analysis for 2015 and 2016
For the Year Ended Dec. 31, 2016					Ratio	2016	2015	Industry 2016	Analysis
	2016	2015			Liquidity Ratios
Sales	3,850,000	3,432,000			Current Ratio			2.70x
Cost of Goods Sold	3,250,000	2,864,000			Quick Ratio			1.00x
Gross Profit	600,000	568,000			Efficiency Ratios
Selling and G&A Expenses	330,300	240,000			Inventory Turnover			7.00x
Fixed Expenses	100,000	100,000			A/R Turnover			10.70x
Depreciation Expense	20,000	18,900			Average Collection Period			33.64 days
EBIT	149,700	209,100			Fixed Asset Turnover			11.20x
Interest Expense	76,000	62,500			Total Asset Turnover			2.60x
Earnings Before Taxes	73,700	146,600			Leverage Ratios
Taxes	29,480	58,640			Total Debt Ratio			50.00%
Net Income	44,220	87,960			Long-term Debt Ratio			20.00%
					LTD to Total Capitalization			28.57%
Notes:					Debt to Equity			1.00x
Tax Rate	40%				LTD to Equity			40.00%
					Coverage Ratios
					Times Interest Earned			2.50x
					Cash Coverage Ratio			2.80x
PIE					Profitability Ratios
Balance Sheet					Gross Profit Margin			17.50%
For the Year Ended Dec. 31, 2016					Operating Profit Margin			6.25%
Assets	2016	2015			Net Profit Margin			3.50%
Cash and Equivalents	52,000	57,600			Return on Total Assets			9.10%
Accounts Receivable	402,000	351,200			Return on Equity			18.20%
Inventory	836,000	715,200			Return on Common Equity			18.20%
Total Current Assets	1,290,000	1,124,000
Plant & Equipment	527,000	491,000			DuPont ROE			18.20%
Accumulated Depreciation	166,200	146,200
Net Fixed Assets	360,800	344,800
Total Assets	1,650,800	1,468,800
Liabilities and Owner's Equity
Accounts Payable	175,200	145,600
Short-term Notes Payable	225,000	200,000
Other Current Liabilities	140,000	136,000
Total Current Liabilities	540,200	481,600
Long-term Debt	424,612	323,432
Total Liabilities	964,812	805,032
Common Stock	460,000	460,000
Retained Earnings	225,988	203,768
Total Shareholder's Equity	685,988	663,768
Total Liabilities and Owner's Equity	1,650,800	1,468,800
PIE
Statement of Cash Flows
For the Year Ended Dec. 31, 2016 ($ in 000's)
Cash Flows from Operations
Net Income	44,220
Depreciation Expense	20,000
Change in Accounts Receivable	-50,800
Change in Inventories	-120,800
Change in Accounts Payable	29,600
Change in Other Current Liabilities	4,000
Total Cash Flows from Operations		-73,780
Cash Flows from Investing
Change in Plant & Equipment	-36,000
Total Cash Flows from Investing		-36,000
Cash Flows from Financing
Change in Short-term Notes Payable	25,000
Change in Long-term Debt	101,180
Change in Common Stock	0
Cash Dividends Paid to Shareholders	-22,000
Total Cash Flows from Financing		104,180
Net Change in Cash Balance		-5,600