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Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales $3,250.0 $2,600.0 Operating costs excluding depreciation and amortization 2,438.0

Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars)

2016 2015
Sales $3,250.0 $2,600.0
Operating costs excluding depreciation and amortization 2,438.0 2,210.0
EBITDA $812.0 $390.0
Depreciation and amortization 94.0 75.0
Earnings before interest and taxes (EBIT) $718.0 $315.0
Interest 72.0 57.0
Earnings before taxes (EBT) $646.0 $258.0
Taxes (40%) 258.4 103.2
Net income
$387.6
$154.8
Common dividends
$349.0
$124.0

Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars)

2016 2015
Assets
Cash and equivalents $31.0 $26.0
Accounts receivable 299.0 260.0
Inventories 748.0 650.0
Total current assets $1,078.0 $936.0
Net plant and equipment 943.0 754.0
Total assets
$2,021.0
$1,690.0
Liabilities and Equity
Accounts payable $257.0 $234.0
Accruals 150.0 130.0
Notes payable 65.0 52.0
Total current liabilities $472.0 $416.0
Long-term bonds 650.0 520.0
Total liabilities $1,122.0 $936.0
Common stock 814.4 708.0
Retained earnings 84.6 46.0
Common equity $899.0 $754.0
Total liabilities and equity
$2,021.0
$1,690.0

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