The income statement and balance sheet of Superior Technologies are exhibited in Tables 7.20 and 7.21. Conduct a ratio analysis and observe major trends and deviations from the available historical company information and industry data (see also Table 7.22).

TABLE 7.20 Income Statement of Superior Technologies Year 2014 (Thousands of Dollars) Net Sales 193,213 Cost of goods and services 128,434 Gross Profit 64,779 Selling, general, and administrative expenses 26,369 Employee profit sharing and retirement 9,831 Total overhead 36,200 Operating profit before interest and tax 28,579 Other income 956 EBIT 29,535 Interest paid 680 Taxable income 28,855 Income tax 14,712 Net Income 14,143 Year 2013 (Thousands of Dollars) 91,954 60,776 31,178 13,844 4,167 18,011 13,167 273 13,440 505 12,935 6,934 6,001 TABLE 7.21 TABLE 7.21 Balance Sheet of Superior Technologies Year 2013 (Thousands Dollars) Year 2014 (Thousands of Dollars 17,856 29,053 23,282 664 -6,013 64,842 10,841 19,350 6,869 315 -405 36,970 60,806 20,083 40,723 Cash Receivables (net) Inventories Prepaid expenses Payments received on government contracts Total CAS Property, plant, and equipment Accumulated depreciation Net property account Patents, etc. (net) Other assets Total Assets Accounts payable Accrued wages, pensions, taxes, etc. Other CLS Total CLS Long-term debt Preferred stock Common stock Paid in surplus Retained earnings Total Liabilities and Net Worth 429 105,994 26,773 10,281 17,492 249 80 53,791 5,337 10,696 2,867 18,900 9 250 10,368 21,309 5,589 37 266 29,935 3,265 3.915 8,205 23,408 105,994 3.257 6.228 16,156 53.791 years 1e, 2016 to 2019) in (a) price of the company's products and (b) numbe TABLE 7.22 Past Ratios of the Company Fill in Past Ratios Current ratio (ratio) Acid test Total debt to total assets (%) Long-term debt as percentage of capitalization Total debt to net worth (ratio) Days' receivables (days) Ending inventory turnover (sales) Ending inventory turnover (cost of sales) Net property turnover Total assets turnover Net profit to total assets (%) Net profit to net worth (%) Net profit to net sales (%) Gross profit 2013 2 1.6 52.3 26.5 1.1 75.7 13.4 8.8 5.6 1.7 11.2. 23.4 6.5 34 2012 2 1.2 47.9 26.3 0.9 66.3 7.8 5.5 4.4 1.8 10 19.2 5.6 29.5 2011 2.2 1.3 41.2 16.8 0.7 82.2 7 5.1 4. 8 1.7 8.6 14.6 5.1 26.5 2010 2009 2008 2. 5 2 1.9 1.7 1.3 1 30.4 46 53.3 8.4 8.3 25.4 0.4 0.8 1.1 96.7 81.9 65.5 7.6 8.1 5.7 5.5 5.7 4.1 4 5.6 6.9 1.5 1.6 1.8 8. 1 7 . 9 8 .5 11.6 14.7 18.3 5.5 4.9 4.7 27. 4 29.3 29.2 TABLE 7.23