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For years ending 12/31

INCOME STATEMENT
Net sales
Cost of sales
Gross profit
Selling, general, and administrative expenses
Depreciation
Net interest expense
Pre-tax income
Income taxes
Net income
Dividends
BALANCE SHEET
Assets
Cash
Accounts receivable
Inventories
Total current assets
Gross plant & equipment
Accumulated depreciation
Net plant & equipment
Total assets
LIABILITIES
Current maturities of
long-term debt
Bank debt
Accounts payable
Accrued expenses
Total current liabilities
Long-term debt
Common stock
Retained earnings
Total shareholders equity
Total liabilities

1993

1994

1995

$16,230
9,430
6,800
5,195
160
119
1,326
546
$780
$155

$20,355
11,898
8,457
6,352
180
106
1,819
822
$997
$200

$23,505
13,612
9,893
7,471
213
94
2,115
925
$1,190
$240

$508
2,545
1,630
4,683
3,232
1,335
1,897
$6,580

$609
3,095
1,838
5,542
3,795
1,515
2,280
$7,822

$706
3,652
2,190
6,548
4,163
1,728
2,435
$8,983

$125

$125

$125

1,042
1,145
2,312
1,000
1,135
2,133
3,268
$6,580

1,325
1,432
2,882
875
1,135
2,930
4,065
$7,822

1,440
1,653
3,218
750
1,135
3,880
5,015
$8,983

Ratio
Profitability
Return on sales
Return on Invested capital
Return on equity
Liquidity
Current ratio
Quick ratio
Leverage
Asset/equity
Debt/total capital
Interest coverage
Activity ratio
Sales/ assets
Days receivable
Days inventory
Days payable

1993
4.8%
19.1%
23.9%

1994
4.9%
19.6%
24.5%

1995
5.1%
18.9%
23.7%

2.0
1.3

1.9
1.3

2.0
1.4

2.0
25.6%
12.1

1.9
19.7%
18.2

1.8
14.9%
23.5

2.5
57.2
63.1
40.3

2.6
55.5
56.4
40.6

2.6
56.7
58.7
38.6

21.96%

24.61%

24.59% ROA

Exhibit 1

Financial Statements for Tire City, Inc.

For years ending 12/31


INCOME STATEMENT
Net sales
Cost of sales
Gross profit
Selling, general, and administrative expenses
Depreciation
Net interest expense
Pre-tax income
Income taxes
Net income
Dividends
BALANCE SHEET
Assets
Cash
Accounts receivable
Inventories
Total current assets
Gross plant & equipment
Accumulated depreciation
Net plant & equipment
Total assets
LIABILITIES
Current maturities of
long-term debt
Bank debt/ Plug
Accounts payable
Accrued expenses
Total current liabilities
Long-term debt
Common stock
Retained earnings
Total shareholders equity
Total liabilities
23505
0.2

1993

1994

$16,230
9,430
6,800
5,195
160
119
1,326
546
$780
$155

$20,355
11,898
8,457
6,352
180
106
1,819
822
$997
$200

$508
2,545
1,630
4,683
3,232
1,335
1,897
$6,580

$609
3,095
1,838
5,542
3,795
1,515
2,280
$7,822

$125

$125

1,042
1,145
2,312
1,000
1,135
2,133
3,268
$6,580

1,325
1,432
2,882
875
1,135
2,930
4,065
$7,822

1995

last 3 yr Percent
avergae of sales

$23,505
13,612
9,893
7,471
213
94
2,115
925
$1,190
$240

20,030
11,647

20.0%
58.1%

6,339

31.6%
Case

20%

of PAT

$706
3,652
2,190
6,548
4,163
1,728
2,435
$8,983

608
3,097
1,886

3%
15%
9%
case

$125
1,440
1,653
3,218
750
1,135
3,880
5,015
$8,983

1,269
1,410

6%
7%
125

1996

1997

28,206
16,401
11,805
8,927
213
92
2,573
1,116
1,457
291

33,847
19,681
14,166
10,712
333
117
3,004
1,303
1,701
340

28206
16401
11805
8927
213
92
2573
1116
1457
291

856
4,362
1,625
6,842
6,163
1,941
4,222
11,064

1,027
5,234
3,187
9,448
6,563
2,274
4,289
13,737

856
4362
2656
7873
6163
1941
4222
12095

125
361
1,787
1,986
4,258
625
1,135
5,046
6,181
11,064

125
1,043
2,144
2,383
5,695
500
1,135
6,407
7,542
13,737

125
1392
1787
1986
5289
625
1135
5046
6181
12095

1996
28206

G
r
o
w
t
h
r

0.05
0.06
0.07
0.08
0.09
0.10
0.11
0.12

1996

1997
33847

S
a
l
e

o
w
t
h
r
a
t
e

0.13
0.14
0.15
0.16
0.17
0.18
0.19
0.20
0.21

S
a
l
e
s

2400000
5.0%
99.29303 120.88229

120
213000
120000

213
333000

0.411765 0.4518966 0.43735225 0.4336711994


0.20

0.20

0.20

For years ending 12/31


INCOME STATEMENT
Net sales
Cost of sales
Gross profit
Selling, general, and administrative expenses
Depreciation
Net interest expense
Pre-tax income
Income taxes
Net income
Dividends
BALANCE SHEET
Assets
Cash
Accounts receivable
Inventories
Total current assets
Gross plant & equipment
Accumulated depreciation
Net plant & equipment
Total assets
LIABILITIES
Current maturities of
long-term debt
Bank debt
Accounts payable
Accrued expenses
Total current liabilities
Long-term debt
Common stock
Retained earnings
Total shareholders equity
Total liabilities

1996

1997

28206
16401
11805
8927
213
92
2573
1116
1457
291

33847
19681
14166
10712
333
117
3004
1303
1701
340

856
4362
1625
6842
6163
1941
4222
11064

1027
5234
3187
9448
6563
2274
4289
13737

125
361
1787
1986
4258
625
1135
5046
6181
11064

125
1043
2144
2383
5695
500
1135
6407
7542
13737

Ratio
Profitability
Return on sales
Return on Invested ca
Return on equity
Liquidity
Current ratio
Quick ratio
Leverage
Asset/equity
Debt/total capital
Interest coverage
Activity ratio
Sales/ assets
Days receivable
Days inventory
Days payable

1996
5.2%
18.9%
23.6%

1997
5.0%
18.0%
22.6%

1.6
1.2

1.7
1.1

1.8
10.8%
29.0

1.8
7.7%
26.8

2.5
56.4
36.2
39.8

2.5
56.4
59.1
39.8