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Analysis of Financial Statements Assignment

Analysis of Financial Statements Assignment

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Published by mahesani_128_suhai
By Suhail Mahesani
Economics BS-III 2K9 Batch
Sindh University.......mahesani_128_suhail@yahoo.com 03332504330
By Suhail Mahesani
Economics BS-III 2K9 Batch
Sindh University.......mahesani_128_suhail@yahoo.com 03332504330

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Published by: mahesani_128_suhai on May 08, 2011
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E
XHIBIT
M
ICRO
D
RIVE
I
NC
.: B
ALANCE
S
HEET
( M
ILLIONS
 
OF
D
OLLARS
)
December 31
19931992
Assets:
Cash1015Marketable securities 065Account receivable375315Inventories615415
Total current assets1,000810
Net Plant and equipment1,000870
Total assets2,0001,680______________________________Liabilities and Equity:
Account payable6030Notes payable11060Accruals140130 
Total current liabilities310220
Long-term bonds754580 
Total debt1,064800
Preferred stock ( 400,000 shares)4040Common stock ( 50,000,000 shares)5050Paid-in capital8080Retained earnings766710Common equity896840
Total liabilities and equity2,0001,680
E
XHIBIT
M
ICRO
D
RIVE
I
NC
.: I
NCOME
S
TATEMENT
(M
ILLIONS
 
OF
D
OLLARS
)
 
31 December
19931992
 Net sales3,000.02,850Cost excluding depreciation2,616.22,497Depreciation 100.0 90Total operating costs2,716.22,587Earnings before interest and taxes (EBIT) 283.8263Less interest 88.0 60Earnings before taxes (EBT)195.8203Taxes (40%) 78.3 81 Net income before preferred dividends117.5122Preferred dividends 4.0 4 Net income available to common stockholders113.5 118 _____ ___Common dividends57.553Addition to retained earnings 56.065Per-share data:Common stock price23.0024.00Earnings per share (EPS)2.272.36Dividends per share (DPS)1.151.06
LIQUIDITY RATIOS:
 
Current Ratio:
 The current ratio is calculated by dividing current assets by currentliabilities.Current ratio = Current assetsCurrent liabilities= $ 1,000
$ 310= 3.2 times.
Quick, or Acid Test, Ratio:
The quick, or acid test, ratio is calculated by deducting inventories from current assets andthen dividing the remainder by current liabilities.
Quick, or acid test ratio = Current assets - InventoriesCurrent liabilities
= $ 385$ 3101.2 times
ASSET MANAGEMENT RATIOS:
Inventory Turnover:

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