• Author / Uploaded
• Angela Thornton

• Categories
• Financiación de capital)
• Ganancias retenidas
• Hoja de balance
• Contabilidad financiera
• Negocios económicos

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Exhibit 1

Financial Statements for Tire City, Inc.

For years ending 12/31

1993

1994

1995

1996

INCOME STATEMENT Net sales

$

16,230

$

20,355

$

23,505

$

28,206

Cost of sales

$

9,430

$

11,898

$

13,612

$

16,403

$

6,800

$

8,457

$

9,893

$

11,803

Selling, general, and administrative expenses

$

5,195

$

6,352

$

7,471

$

8,932

Depreciation

$

160

$

180

$

213

$

213

Net interest expense

$

119

$

106

$

94

$

112

Pre-tax income

$

1,326

$

1,819

$

2,115

$

2,545

Income taxes

$

546

$

822

$

925

$

1,104

$

780

$

997

$

1,190

$

1,442

$

155

$

200

$

240

$

289

Cash balances

$

508

$

609

$

706

$

858

Accounts receivable

$

2,545

$

3,095

$

3,652

$

4,365

Inventories

$

1,630

$

1,838

$

2,190

$

1,625

$

4,683

$

5,542

$

6,548

$

6,848

Gross plant & equipment

$

3,232

$

3,795

$

4,163

$

6,163

Accumulated depreciation

$

1,335

$

1,515

$

1,728

$

1,941

Net plant & equipment

$

1,897

$

2,280

$

2,435

$

4,222

Total assets

$

6,580

$

7,822

$

8,983

$

11,070

$

125

$

125

$

125

$

125

$

375

Gross Profit

Net income Dividends

BALANCE SHEET Assets

Total current assets

Liabilities and equity Current maturities

Accounts payable

$

1,042

$

1,325

$

1,440

$

1,792

Accrued expenses

$

1,145

$

1,432

$

1,653

$

1,986

$

2,312

$

2,882

$

3,218

$

4,277

Long-term debt

$

1,000

$

875

$

750

$

625

Common stock

$

1,135

$

1,135

$

1,135

$

1,135

Retained earnings

Total current liabilities

$

2,133

$

2,930

$

3,880

$

5,033

Total shareholders' equity

$

3,268

$

4,065

$

5,015

$

6,168

Total liabilities and equity

$

6,580

$

7,822

$

8,983

$

11,070

1993

1997

1994

Profitability $

33,847

Return on sales

4.81%

4.90%

$

19,684

Return on assets

11.85%

12.75%

$

14,163

Return on equity

23.87%

24.53%

$

10,718

$

333

$

173

2.025519031

1.92297016

$

2,939

$

1,275

$

1,665

$

333

Liquidity Current ratio Quick ratio

1.32050173 1.285218598

Leverage Assets/equity

2.013463892 1.924231242

Total debt/total capital

0.503343465 0.480311941

Interest coverage

12.14285714 18.16037736

Activity

$

1,030

$

5,238

Total asset turnover

$

3,203

Days receivables

9,470

Days inventory

$ $

6,563

$

2,274

$

4,289

$

13,759

$

125

$

1,103

$

2,150

$

2,383

$

5,761

$

500

$

1,135

$

6,364

$

7,499

$

13,760

2.46656535 2.602275633 57.23505853 55.49864898 63.0911983 56.38510674

a

39.94919874

Days payable

Du Pont ROA

0.118541033 0.127461007

ROE ROE

0.23867809 0.24526445 0.23867809 0.24526445 $ 12,106

AVG Cost of sales/Sales 0.5810228 0.58452469 0.57911083 0.58155277 SG&A/Sales 0.32008626 0.31206092 0.31784727 0.31666482 $

93

$

94

$

95

Income tax/Pretax0.41176471 income

0.45189665 0.43735225 0.4336712 Dividends/Net income 0.19871795 0.20060181 0.20168067 0.20033348 0.03130006 0.02991894 0.03003616 0.03041839 Receivables/Sales0.15680838 0.15205109 0.1553712 0.15474356 Cash/Sales

Inventories/Sales

0.1004313 0.09029722 0.09317167

0.0946334

0.06420209 0.06509457 0.06126356 0.06352008 Accrued exp/Sales0.07054837 0.07035127 0.07032546 0.07040836 Payables/Sales

1995

1996

1997

5.06%

5.11%

4.92%

13.25%

13.02%

12.10%

23.73%

23.37%

22.20%

2.034804226 1.601004427 1.643798273 1.354257303 1.221075308

1.08782685

1.791226321 1.794765873 1.834845272 0.441723255

0.44283391 0.455026928

23.5

23.63547 18.00824853

2.616609151 2.548041641 2.459948184 56.71048713 56.48139821 56.48139821 58.72392007 36.15893238 59.39476437 37.6396448

#DIV/0!

#DIV/0!

0.132472448 0.130224728 0.120977953

0.23728814 0.23728814 $ 13,964

0.2337229 0.22197583 0.2337229 0.22197583

For Years Ending 12/31

Assumptions

1996

INCOME STATEMENT Net sales

28206

Cost of sales

16403.27745 Gross profit

S, G, & A

11802.72255 8931.847774

Depreciation

213

Net interest expense Pre-tax income

112.4528 2545.42198

Income taxes

1103.876203 Net income

Dividends

1441.545777 288.7898756

BALANCE SHEET Assets Cash

857.9810422

Accounts receivable

4364.696762

Inventories

1625 Total current assets

6847.677804

Gross plant & equipment

6163

Accumulated Depreciation

1941

Net plant & equipment Total assets

4222 11069.6778

Liabilities Current maturities of LTD New Bank Debt

125 374.528

Accounts payable

1791.647256

Accrued expenses

1985.938343

Total current liabilities Long term debt (LTD) Common stock

4277.113599 625 1135

Retained Earnings Total equity Total liabilities and equity

5032.755902 6167.755902 11069.8695

10695.3415 374.336304

NWC

4198.04951

1997

AVG Cost of sales/Sales 0.5810228 0.58452469 0.57911083 0.58155277 SG&A/Sales 0.32008626 0.31206092 0.31784727 0.31666482 1993

33847 19683.81662

1994

1995

14163.18338 10718.154 333

Income tax/Pretax0.41176471 income

0.45189665 0.43735225 0.4336712 Dividends/Net income 0.19871795 0.20060181 0.20168067 0.20033348

172.81133

1664.563833

0.03130006 0.02991894 0.03003616 0.03041839 Receivables/Sales0.15680838 0.15205109 0.1553712 0.15474356 Inventories/Sales 0.1004313 0.09029722 0.09317167 0.0946334

333.4678578

Payables/Sales

2939.21805 1274.654217

Cash/Sales

0.06420209 0.06509457 0.06126356 0.06352008 Accrued exp/Sales0.07054837 0.07035127 0.07032546 0.07040836

1029.571167 5237.605165 3203.056576 9470.232909 6563 2274 4289 13759.23291

125 1103.1133 2149.964003 2383.111929 5761.189233 500 1135 6363.851877 7498.851877 13760.04111

400 2000 273.205382 1241.84265 1515.04803 68.3013455 310.460662 378.762007

12656.9278 1102.3051

6290.69774

28206 16403.2774 11802.7226 8931.84777 213 112.876201 2544.99858 1103.69259 1441.30599 288.741839

33847 19683.8166 14163.1834 10718.154 333 214.004803 2898.02458 1256.78979 1641.23478 328.794268

846.18 4364.69676 1625 6835.87676 6163 1941 4222 11057.8768

1015.41 5237.60517 3203.05658 9456.07174 6563 2274 4289 13745.0717

125 378.762007 1791.64726 1985.93834 4281.34761 625 1135 5032.56415 6167.56415 11073.9118

125 1515.04803 2149.964 2383.11193 6173.12396 500 1135 6345.00467 7480.00467 14153.1286

1993

1994

1995

1996

4.81% 11.85% 23.87%

4.90% 12.75% 24.53%

5.06% 13.25% 23.73%

5.11% 13.02% 23.37%

Profitability Return on sales Return on assets Return on equity Liquidity Current ratio Quick ratio

2.02551903 1.92297016 2.03480423 1.60100443 1.32050173 1.2852186 1.3542573 1.22107531

Assets/equity Total debt/total capital Interest coverage

2.01346389 1.92423124 1.79122632 1.79476587 0.50334347 0.48031194 0.44172326 0.44283391 12.1428571 18.1603774 23.5 23.63547

Total asset turnover Days receivables Days inventory Days payablea

2.46656535 2.60227563 2.61660915 2.54804164 57.2350585 55.498649 56.7104871 56.4813982 63.0911983 56.3851067 58.7239201 36.1589324 39.9491987 37.6396448 #DIV/0!

Leverage

Activity

1997

4.92% 12.10% 22.20%

1.64379827 1.08782685

1.83484527 0.45502693 18.0082485

2.45994818 56.4813982 59.3947644 #DIV/0!