Consolidated Balance sheets - Thomason Inc
31-Dec
1997
%
1996
%
Assets
Cash
$50,000
6.13%
$46,000
5.93%
Accounts receivable
$94,000
11.52%
$86,000
11.08%
Inventories
$128,000
15.69%
$120,000
15.46%
Prepaid expenes & other rec
$14,000
1.72%
$12,000
1.55%
Total Current Assets
$286,000
35.05%
$264,000
34.02%
Property Plant & Equip
$504,000
61.76%
$482,000
62.11%
intangible
$26,000
3.19%
$30,000
3.87%
Land
$0
0.00%
$0
0.00%
Total assets
$816,000
$776,000
Liabilities & Shareholder Equity
Current liabilities
$144,000
17.65%
$140,000
18.04%
Long term liabilities
$180,000
22.06%
$180,000
23.20%
Total liabilities
$324,000
39.71%
$320,000
41.24%
Shareholder's investment
preferred stock
$100,000
12.25%
$100,000
12.89%
Class B nonvoting Pref stock
Common Stock
$180,000
22.06%
$180,000
23.20%
Additional paid in capital
$34,000
4.17%
$34,000
4.38%
Retained earnings
$178,000
21.81%
$142,000
18.30%
Total Shareholder's equity
$492,000
60.29%
$456,000
58.76%
Total Liab and S/holder's equity
$816,000
100%
$776,000
100%
18,000 common shares outstanding
Consolidated Income Statements - Thomason
30-Jun
1997
%
Net sales
$800,000
100%
Cost of goods sold
$485,000
60.63%
Marketing, research, administrative &oth
$0
0.00%
GM
$315,000
39.38%
Op exp
$244,000
30.50%
EBIT
$71,000
8.88%
Int exp
$11,000
Income before taxes
$60,000
7.50%
Tax
$20,000
2.50%
Net Income
$40,000
5.00%
I.
The AIR turnover ratio for 1997 is:
A. 8.5
B 8.9
C 9.3
D 4.4
II
The number of days sales in AIR for 1997 to nearest whole day:
A 43
B 41
C 18
D
27
III
The inventory turnover ratio for 1997
A 3.91
B 4.04
C 3.68
D 0.79
IV
The current ratio for 1997 is
A .83:1
B .85:1
C 1.13:1
D 1.99:1
V.
Total Assets turnover ratio for 1997
A 1.04
B 0.07
C 1.01
D 0.05
VI.
The percentage of net income to net sales for 1997
A 100.00%
B 7.50%
C 2.50%
D 5.00%
VII.
The rate of return on assets for 1997
A 8.90%
B 1.63%
C 16.80%
D 5.21%
VIII.
Debt to Equity Ratio: Leverage
A 36.59%
B 65.80%
C 12.50%
D 39.71%
IX
The earnings per share of common stock for 1997 (assumes no preferred dividends paid)
A $2.22
B $0.35
C $1.94
D $0.40
X
The times interest earned ratio for 1997
A 6.45
B 9
C 7.81
D 5.42
Ratios for 1997
Name of ratio
Numerator
Denominator
Ratio/$
Accounts Receivable turnover
Number of days sales in A/R for 1997
Inventory turnover ratio
Current ratio
Total Asset turnover
Percentage of net inc to net sales
Return on assets
Debt to Equity
EPS (basic)
Times interest earned ratio
| Consolidated Balance sheets - Thomason Inc | |||||||
| 31-Dec | |||||||
| 1997 | % | 1996 | % | ||||
| Assets | |||||||
| Cash | $50,000 | 6.13% | $46,000 | 5.93% | |||
| Accounts receivable | $94,000 | 11.52% | $86,000 | 11.08% | |||
| Inventories | $128,000 | 15.69% | $120,000 | 15.46% | |||
| Prepaid expenes & other rec | $14,000 | 1.72% | $12,000 | 1.55% | |||
| Total Current Assets | $286,000 | 35.05% | $264,000 | 34.02% | |||
| Property Plant & Equip | $504,000 | 61.76% | $482,000 | 62.11% | |||
| intangible | $26,000 | 3.19% | $30,000 | 3.87% | |||
| Land | $0 | 0.00% | $0 | 0.00% | |||
| Total assets | $816,000 | $776,000 | |||||
| Liabilities & Shareholder Equity | |||||||
| Current liabilities | $144,000 | 17.65% | $140,000 | 18.04% | |||
| Long term liabilities | $180,000 | 22.06% | $180,000 | 23.20% | |||
| Total liabilities | $324,000 | 39.71% | $320,000 | 41.24% | |||
| Shareholder's investment | |||||||
| preferred stock | $100,000 | 12.25% | $100,000 | 12.89% | |||
| Class B nonvoting Pref stock | |||||||
| Common Stock | $180,000 | 22.06% | $180,000 | 23.20% | |||
| Additional paid in capital | $34,000 | 4.17% | $34,000 | 4.38% | |||
| Retained earnings | $178,000 | 21.81% | $142,000 | 18.30% | |||
| Total Shareholder's equity | $492,000 | 60.29% | $456,000 | 58.76% | |||
| Total Liab and S/holder's equity | $816,000 | 100% | $776,000 | 100% | |||
18,000 common shares outstanding
| Consolidated Income Statements - Thomason | |||||||||||||||||
| 30-Jun | |||||||||||||||||
| 1997 | % | ||||||||||||||||
| Net sales | $800,000 | 100% | |||||||||||||||
| Cost of goods sold | $485,000 | 60.63% | |||||||||||||||
| Marketing, research, administrative &oth | $0 | 0.00% | |||||||||||||||
| GM | $315,000 | 39.38% | |||||||||||||||
| Op exp | $244,000 | 30.50% | |||||||||||||||
| EBIT | $71,000 | 8.88% | |||||||||||||||
| Int exp | $11,000 | ||||||||||||||||
| Income before taxes | $60,000 | 7.50% | |||||||||||||||
| Tax | $20,000 | 2.50% | |||||||||||||||
| Net Income | $40,000 | 5.00% | |||||||||||||||
| I. | The AIR turnover ratio for 1997 is: A. 8.5 B 8.9 C 9.3 D 4.4 | ||||||||||||||||
| II | The number of days sales in AIR for 1997 to nearest whole day: A 43 B 41 C 18 | ||||||||||||||||
| D | 27 | ||||||||||||||||
| III | The inventory turnover ratio for 1997 A 3.91 B 4.04 C 3.68 D 0.79 | ||||||||||||||||
| IV | The current ratio for 1997 is A .83:1 B .85:1 C 1.13:1 D 1.99:1 | ||||||||||||||||
| V. | Total Assets turnover ratio for 1997 A 1.04 B 0.07 C 1.01 D 0.05 | ||||||||||||||||
| VI. | The percentage of net income to net sales for 1997 A 100.00% B 7.50% C 2.50% D 5.00% | ||||||||||||||||
| VII. | The rate of return on assets for 1997 A 8.90% B 1.63% C 16.80% D 5.21% | ||||||||||||||||
| VIII. | Debt to Equity Ratio: Leverage A 36.59% B 65.80% C 12.50% D 39.71% | ||||||||||||||||
| IX | The earnings per share of common stock for 1997 (assumes no preferred dividends paid) A $2.22 B $0.35 C $1.94 D $0.40 | ||||||||||||||||
| X | The times interest earned ratio for 1997 A 6.45 B 9 C 7.81 D 5.42 | ||||||||||||||||
| Ratios for 1997 | |||||||||||||||||
| Name of ratio | Numerator | Denominator | Ratio/$ | ||||||||||||||
| Accounts Receivable turnover | |||||||||||||||||
| Number of days sales in A/R for 1997 | |||||||||||||||||
| Inventory turnover ratio | |||||||||||||||||
| Current ratio | |||||||||||||||||
| Total Asset turnover | |||||||||||||||||
| Percentage of net inc to net sales | |||||||||||||||||
| Return on assets | |||||||||||||||||
| Debt to Equity | |||||||||||||||||
| EPS (basic) | |||||||||||||||||
| Times interest earned ratio | |||||||||||||||||
