Sunflower Designs

Income Statement

For the Years Ended March $31,2016$ and March $31,2017$

USD $($$$)$ in Millions

H & K INC.

Income Statement

For the Years Ended December $31,2022$ and $2021$

$ in millions

$20222021$

Revenue

Net sales $ $47,364$ $ $44,452$

Cost of merchandise sold $27,01624,969$

Gross Profit $20,34819,483$

Operating Expenses

Selling, general and administrative $7,6037,182$

Depreciation $1,7721,010$

Amortization $4545$

Operating income $10,92811,246$

Interest expense, net $276235$

Gain on sale of property and equipment $600350$

Income before income taxes $11,25211,361$

Provision for income taxes $2,8132,840$

Net income $ $8,439$ $ $8,521$

Sunflower Designs

Balance Sheet

As of March $31,2016$ and March $31,2017$

USD $($$$)$ in Millions

H & K INC.

Balance Sheet

December $31,2022$ and $2021$

$ in millions

$20222021$

Current Assets

Cash and cash equivalents $ $17,961$ $ $9,839$

Accounts receivable, net $3,3152,010$

Merchandise inventories $3,5764,029$

Other current assets $333326$

Total Current Assets $25,18516,204$

Long$-$Term Assets

Property and equipment $12,40511,995$

Accumulated depreciaion $(3,792)(3,220)$

Intangible assets, net of accumulated amortization $148193$

Total Long$-$Term Assets $8,7618,968$

Total Assets $ $33,946$ $ $25,172$

Current Liabilities

Accounts payable $ $1,308$ $ $1,276$

Accrued liabilities $9881,200$

Income taxes payable $2,6192,455$

Current portion of long$-$term debt $12599$

Total Current Liabilities $5,0405,030$

Non$-$current Liabilities

Long$-$term debt $4,7254,525$

Total Liabilities $9,7659,555$

Shareholders$$ Equity

Common stock; $\mathrm{.}01$ par value; $9,000$ shares authorized; $380$

and $370$ shares issued & outstanding respectively $44$

Paid$-$in capital $3,5183,018$

Treasury stock, at cost $(2,824)(2,649)$

Retained earnings $23,48315,244$

Total Shareholders$$ Equity $24,18115,617$

Total Liabilities and Shareholders$$ Equity $ $33,946$ $ $25,172$

Additional Information:

The company paid cash dividends of $$200$ in $2021.$

The company purchased treasury stock of $$175$ during $2021,$ and sold common stock for $$500$ during $2021.$ No other stock transactions took place.

The company purchased $$2,110$ in equipment for cash during the year. In addition, equipment was sold for $$1100$ in cash; the equipment had a book value at the time of sale of $$500.$

There were no purchases or sales of intangible assets.

The company made payments of $$100$ on its debt obligations, and took an additional $$300$ in debt during the year.

Sunflower Designs

Statement of Cash Flows $($Indirect Approach$)$

For the Year Ended March $31,2017$

USD $($$$)$ in Millions

H & K INC.

Statement of Cash Flows

For the Year Ended December $31,2022$

USD $($$$)$ in Millions

Sunflower Designs

Ratio Analyses

For the Year Ended March $31,2017$

$2022$

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