Refer to the Financial Statements and perform a trend analysis. Analyze the trends for 3 line items you believe are most important in evaluating a company for the balance sheet and for the income statement (3 each). Answer the following questions:

• What do you observe in the linear trends (i.e., are values increasing or decreasing)?
• What are the trends on a common-size basis?
• What would be your next steps in completing a thorough analysis of the trends?

BALANCE SHEET

Own12/31/201912/31/201812/31/201712/31/2016

Assets38,588,70035,783,30034,558,00037,153,800

Current Assets8,327,2007,491,5006,692,6006,708,000

Cash3,527,4002,585,4002,107,5001,983,400

Cash And Cash Equivalents3,517,400 2,575,4002,097,2001,964,000

Other Short-Term Investments10,00010,00010,30019,400

Total Cash3,527,4002,585,4002,107,5001,983,400

Net Receivables1,746,1001,808,8001,797,7001,804,100

Inventory2,150,0002,024,5001,865,4002,042,700

Other Current Assets--251,900 216,200

Total Current Assets 8,327,2007,491,5006,692,6006,708,000

Non-current assets 30,261,40028,291,800 27,865,30030,445,900

Property, plant and equipment 14,529,20012,961,600 12,813,80013,964,500

Gross property, plant and equipment27,414,90024,474,50023,661,20024,763,000

Accumulated Depreciation-12,885,800-11,512,800 -10,847,500-10,798,400

Net property, plant and equipment14,529,20012,961,60012,813,80013,964,500

Goodwill11,782,60011,450,20011,106,60011,828,200

Intangible Assets401,400370,300364,600491,500

Other long-term assets--100-100100

Total non-current assets30,261,40028,291,80027,865,30030,445,900

Total Assets38,588,70035,783,30034,558,00037,153,800

Liabilities and stockholders' equity38,588,70035,783,30034,558,00037,153,800

Liabilities20,084,30018,961,60018,505,70019,281,200

Current Liabilities7,391,7006,264,9006,295,8007,010,000

Current Debt2,165,8001,324,9001,852,0002,389,100

Accounts Payable2,690,0002,605,3002,281,1002,178,900

Other Current Liabilities 1,533,1001,565,5001,491,0001,655,900

Total Current Liabilities7,391,7006,264,9006,295,8007,010,000

Non-current liabilities12,692,60012,696,70012,209,90012,271,200

Long Term Debt 8,462,3009,483,8008,851,4008,480,700

Deferred taxes liabilities726,300722,800649,700657,400

Other long-term liabilities233,200249,600165,000255,700

Total non-current liabilities12,692,600 12,696,700 12,209,900 12,271,200

Total Liabilities20,084,30018,961,60018,505,70019,281,200

Stockholders' Equity16,987,20015,429,70014,558,00016,093,100

Common Stock595,200595,200595,200595,200

Retained Earnings10,988,30010,256,600 9,494,8008,982,300

Total stockholders' equity16,987,20015,429,70014,558,000 16,093,100

Total liabilities and stockholders' equity 38,588,70035,783,300 34,558,00037,153,800

INCOME STATEMENT

Breakdown12/31/201912/31/201812/31/201712/31/2016

Total Revenue 18,851,30018,074,60017,266,10015,165,700

Cost of Revenue 7,498,2007,400,7006,733,8005,861,300

Gross Profit 11,353,10010,673,90010,532,3009,304,400

Operating Expenses9,559,0009,052,8008,777,2007,615,900

Selling General and Administrative1,172,6001,180,8001,151,1001,055,300

Total Operating Expenses9,559,0009,052,8008,777,2007,615,900

Operating Income or Loss1,794,1001,621,1001,755,1001,688,500

Interest Expense361,500345,400394,700489,500

Income Before Tax 1,633,0001,764,5001,715,4001,204,500

Income Tax Expense358,400464,100606,400305,000

Income from Continuing Operations1,274,6001,300,3001,109,000899,500

Net Income1,090,9001,143,000917,700706,200

Net Income available to shareholders 1,090,9001,143,000917,700706,200

Basic EPS-5.764.623.66

Diluted EPS-5.764.623.66

Basic Average Shares-198,416198,416 193,023

Diluted Average Shares -198,416198,416 193,023

EBITDA 3,462,6003,239,7003,289,800 2,725,300