Required

Compute the following ratios and other amounts for each of the two years, ending December 30, 2014, and December 31, 2013. Because only two years of data are given on the balance sheets, to be consistent, you should use year-end balances for each year in lieu of average balances. Assume 360 days to a year. State any other necessary assumptions in making the calculations. Round all ratios to the nearest one-tenth of a percent.

Working capital

Current ratio

Acid-test ratio

Cash flow from operations to current liabilities

Debt-to-equity ratio

Cash flow from operations to capital expenditures

Asset turnover

Return on sales

Return on assets

Return on common stockholders' equity

What is your overall analysis of the financial health of Panera Bread?

ITEM 6. SELECTED FINANCIAL DATA The following selected financial data has been derived from our consolidated financial statements. The data set forth below should be read in conjunction with "Management's Discussion and Analysis of Consolidated Financial Condition and Results of Operations" and our consolidated financial statements and notes thereto. For the fiscal year ended (1) (in thousands, except per share and percentage information) December 30, December 31, December 25, December 27, December 28, Revenues Bakery-cafe sales, net Franchise royalties and fees Fresh dough and other product sales to S 2,230,370 S 2,108,908 1,879,280 1,592,951 S 1,321,162 123,686 102,076 92,793 86,195 175,139 2,529,195 163,453 2,385,002 135,132 1,542,489 franchisees 136,288 1,822,032 Total revenues 2,130,057 Costs and expenses Bakery-cafe expenses Cost of food and paper products S 669,860 S 625,622 S552,580 470,398 S374,816 625,457 148,816 295,539 1,695,434 Labor 685,576 159,794 314,879 1,830,109 559,446 130,793 256,029 1,498,848 484,014 115,290 216,237 1,285,939 100,970 177,059 1,071,985 Other operating expenses Total bakery-cafe expenses Fresh dough and other product cost of 116,267 sales to franchisees Depreciation and amortization General and administrative expenses Pre-opening expenses 152,267 123.335 7,794 2,075,246 309,756 1,053 4,017) 312,720 116,551 131,006 90,939 117,932 8,462 1,847,187 282,870 1,082 (1,208) 282,996 109,548 173,448 110,986 68,673 101,494 4,282 1,357,420 185,069 675 4,232 180,162 68,563 138,060 8,707 2,253,252 275,943 1,824 113,083 6,585 1,601,773 220,259 822 Total costs and expenses ra ting profit Interest expense Other (income) expense, net Income before income taxes Income taxes 3.175) 277,294 219,903 Net income 179,293 135,952 Less: net loss attributable to noncontrolling interest (267) Net income attributable to Panera Bread Company $ 179,293 S 196,169 173,448 135,952 111,866 Earnings per common share attributable to Panera Bread Company Weighted average shares of common and common equivalent shares outstanding 28,629 29,601 Basic Diluted PANERA BREAD COMPANY CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share information) December 30, 2014 December 31, 2013 ASSETS Current assets: Cash and cash equivalents Trade accounts receivable, net Other accounts receivable Inventories Prepaid expenses and other Deferred income taxes S 196,493 S 25,245 32,965 51,637 21,916 43,064 27,889 302,716 669,409 36,584 70,069 22,811 51,588 28,621 406,166 787,294 Total current assets Property and equipment, net Other assets: Goodwill Other intangible assets, net Deposits and other 123,013 79,768 5,956 208,737 S 1,390,902 S 1,180,862 120,778 70,940 5,724 197,442 Total other assets Total assets LIABILITIES Current liabilities: Accounts payable S 19,511 S 7,533 285,792 303,325 Accrued expenses 333,201 352,712 100,000 67,390 76,589 58,027 654,718 Total current liabilities Long-term debt Deferred rent Deferred income taxes Other long-term liabilities 65,974 65,398 46,273 480,970 Total liabilities Commitments and contingencies (Note 13) STOCKHOLDERS' EQUITY Common stock, S.0001 par value per share Class A, 112,500,000 shares authorized; 30,703,472 shares issued and 25,442,728 shares outstanding at December 30, 2014 and 30,573,851 shares issued and 26,290,446 shares outstanding at December 31, 2013 Class B, 10,000,000 shares authorized; 1,381,865 shares issued and outstanding at December 30, 2014 and 1,382,393 shares issued and outstanding at December 31, 2013 Treasury stock, carried at cost; 5,260,744 shares at December 30, 2014 and 4,283,405 shares at December 31, 201:3 Preferred stock, $.0001 par value per share; 2,000,000 shares authorized and no shares issued or outstanding at December 30, 2014 and December 31, 2013 Additional paid-in capital Accumulated other comprehensive (loss) income Retained earnings (706,073) (546,570) 196,908 (333) 1049.884 699,892 S 1,390,902 S 1,180,862 214,437 (1,360) 1,229,177 736,184 Total stockholders' equity Total liabilities and stockholders' equity The accompanying notes are an integral part of the consolidated financial statements