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Net sales

Cost of goods sold


Gross profit
Operating expenses
Wages and comissions
Rent
Provision for doubtful accounts
General Selling expenses
General Administratitve expenses
Amortization
Total operating expenses
Interest expense
Net income before tax
Income tax
Net Income (loss)

Statement of earnings
(for years ending January 31)
2004
930,110
644,190
285,920

2005
1,599,920
1,171,760
428,160

2006
2,066,820
1,476,840
589,980

183,620
19,430
6,710
29,100
76,430
0
315,290
27,230

253,910
22,200
0
27,560
104,720
10,300
418,690
29,220

306,170
11,100
0
23,860
132,850
24,360
498,340
33,750

-56,600
0
-56,600

-19,750
0
-19,750

57,890
0
57,890

Beginning retained earnings


Add: net income
Less: dividends
Ending retained earnings

Statement of Retained Earnings


(for years ending January 31)
2004
0
-56,600
0
-56,600

2005
-56,600
-19,750
0
-76,350

2006
-76,350
57,890
0
-18,460

Balance Sheets
(as at January 31)
2004
ASSETS
Current assets
Cash
Accounts receivable, net
Inventory
Prepaid expenses
Total current assets
Fixed Assets
Land
Automobiles
Building
Equipment
Sub Total
Less: acumulated amortizatio
Net fixed assets
Other assets
Goodwill
Deferred charges
TOTAL ASSETS
LIABILITIES
Current liabilities
Accounts payable
Other current liabilities
Total current liabilities
Long term liabilities
bank loan
Transport loan
Mortgage payable
CCB mortgage payable
Total long term liabilities
Equity
Common Stock
Retained earnings
Total Equity
TOTAL LIABILITIES & EQUITY

2005

2006

86,060
128,500
308,980
3,020
526,560

17,510
201,670
342,080
3,020
564,280

1,420
338,690
474,630
1,740
816,480

34,350

0
34,350

34,350

34,350
10,300
24,050

60,880
47,850
122,940
3,990
235,660
34,660
201,000

30,000
6,570

30,000
3,850

30,000
2,750

597,480

622,180

1,050,230

184,640
15,790
200,430

290,740
11,850
302,590

502,500
35,850
538,350

126,900
30,240
196,510
0
353,650

101,700
17,730
176,510
0
295,940

76,500
5,210
176,510
172,120
430,340

100,000
-56,600
43,400

100,000
-76,350
23,650

100,000
-18,460
81,540

597,480

622,180

1,050,230

34,350

Net sales
Cost of goods sold
Gross profit
Operating expenses
Wages and comissions
Rent
Provision for doubtful accounts
General Selling expenses
General Administratitve expenses
Amortization
Total operating expenses
Interest expense
Net Income (loss)
LIQUIDITY
Current ratio
Acid test
Working capital
EFFICIENCY
Age of receivables
Age of inventory
Age of payables
STABILITY
Net worth to total assets
EBIT
EBITDA
EBIT / interest
EBITDA / Interest
GROWTH
Sales
Net income
Total assets
Equity

Financial Ratios
(as at January 31)
2004
100.00%
69.26%
30.74%

2005
100.00%
73.24%
26.76%

19.74%
2.09%
0.72%
3.13%
8.22%
0.00%
33.90%
2.93%

15.87%
1.39%
0.00%
1.72%
6.55%
0.64%
26.17%
1.83%

14.81%
0.54%
0.00%
1.15%
6.43%
1.18%
24.11%
1.63%

-6.09%

-1.23%

2.80%

2.63
1.09
326,130

1.86
0.73
261,690

1.52
0.63
278,130

50
175
105

46
107
91

60
117
124

7.3%
-29,370
-29,370

3.8%
9,470
19,770
0.3
0.7
2005/04

2006 selected industry ratios


2006
(where available)
100.00%
100.00%
71.45%
67.90%
28.55%
32.10%

7.8%
91,640
116,000
2.7
3.4
2006/05

72%

29%

4%
-46%

69%
245%

2.80%

1.80
0.60

52.4

3.6

Statement of cash flows


(for years ending January 31)
2005

2006

OPERATIONS
Net income
Adjustments to cash basis
Amortization
Accounts receivable net
Inventory
Prepaid expenses
Accounts payable
Other current liabilities

-19,750

57,890

10,300
-73,170
-33,100
0
106,100
-3,940

24,360
-137,020
-132,550
1,280
211,760
24000

Net cash flo from operations

-13,560

49,720

FINANCING ACTIVITIES
Bank Loan
Transport loan
Mortgage payable
CCB mortgage payable

-25,200
-12,510
-20,000

-25,200
-12,520
0
172,120

Net cash flow from financing

-57,710

134,400

INVESTING ACTIVITIES
Fixed assets
Deferred charges

0
2,720

-201,310
1,100

Net cash flow from investing

2,720

-200,210

-68,550
86,060

-16,090
17,510

17,510

1,420

Net cash flow


Beginning cash
Ending cash