Comparative Balance Sheets: 2013 and 2014

2014
Assets
Current Assets
Cash & cash equivalents
Accounts receivable
Inventory
Other current assets
Total current assets
Long-term assets (non-current)
Property, Plant, & Equipment:
Land
Buildings
Fixtures, computer equipment
Construction-in-progress
Accumulated depreciation
Total P,P, & E
Other non-current assets
Total long-term assets
Total assets
Liabilities
Current liabilities
Accounts payable
Salaries payable
Interest payable
Income tax payable
Total current liabilities
Long-term liabilities

Vertical
Analysis: 2014

2013

$
$
$
$
$

69,500
876,600
211,200
1,157,300

1.6%
0.0%
19.7%
4.7%
26.0%

$
$
$
$
$

78,400
584,100
790,300
186,000
1,638,800

$
$
$
$
$
$
$
$

623,400
3,035,600
834,700
84,300
(1,440,200)
3,137,800
160,200
3,298,000

14.0%
68.1%
18.7%
1.9%
-32.3%
70.4%
3.6%
74.0%

$
$
$
$
$
$
$
$

620,600
2,865,300
792,900
117,600
(1,331,100)
3,065,300
112,200
3,177,500

4,455,300

100.0%

4,816,300

$
$
$
$
$

768,300
393,400
116,000
143,300
1,421,000

17.2%
8.8%
2.6%
3.2%
31.9%

$
$
$
$
$

705,600
398,100
149,000
150,000
1,402,700

Bonds payable
Total liabilities

$
$

1,411,200
2,832,200

31.7%
63.6%

$
$

1,757,400
3,160,100

Shareholders Equity
Common Stock
APIC
Retained earnings
Accum Other Comprehensive Loss
Total shareholders equity

$
$
$
$
$

5,300
447,000
1,259,900
(89,100)
1,623,100

0.1%
10.0%
28.3%
-2.0%
36.4%

$
$
$
$
$

5,800
392,500
1,315,500
(57,600)
1,656,200

Total liabilites and shareholders equity

4,455,300

100.0%

4,816,300

$
$

64,000
67,000
75
64

No. of outstanding shares: 12-31-14

No. of outstanding shares: 12-31-13
Price per share: Dec 31, 2014
Price per share: Dec 31, 2013

Horizontal Analysis
Percentage
Dollar Change
Change

$
$
$
$
$

(8,900)
(584,100)
86,300
25,200
(481,500)

-11.4%
-100.0%
10.9%
13.5%
-29.4%

$
$
$
$
$
$
$
$

2,800
170,300
41,800
(33,300)
(109,100)
72,500
48,000
120,500

0.5%
5.9%
5.3%
-28.3%
8.2%
2.4%
42.8%
3.8%

(361,000)

-7.5%

$
$
$
$
$

62,700
(4,700)
(33,000)
(6,700)
18,300

8.9%
-1.2%
-22.1%
-4.5%
1.3%

$
$

(346,200)
(327,900)

-19.7%
-10.4%

$
$
$
$
$

(500)
54,500
(55,600)
(31,500)
(33,100)

-8.6%
13.9%
-4.2%
54.7%
-2.0%

(361,000)

-7.5%

Comparative Income Statements: 2013 and 2014

2014

Vertical
Analysis: 2014

2013

Sales
Cost of Sales
Gross profit

$
$
$

7,259,600
5,116,000
2,143,600

100.0%
70.5%
29.5%

$
$
$

7,329,800
5,056,800
2,273,000

Operating Expenses
Selling, general, admin expenses
Credit card expenses
Depreciation expense
Total operating expenses
Operating income (EBIT)
Interest expense
Income before Income Taxes (EBT)
Income tax expense

$
$
$
$
$
$
$
$

1,498,400
222,300
1,720,700
422,900
112,600
310,300
113,200

20.6%
0.0%
3.1%
23.7%
5.8%
1.6%
4.3%
1.6%

$
$
$
$
$
$
$
$

1,475,300
46,700
214,200
1,736,200
536,800
76,200
460,600
161,000

Net income

197,100

2.7%

299,600

14
Horizontal Analysis
Dollar Change

Percentage
Change

$
$
$

(70,200)
59,200
(129,400)

-1.0%
1.2%
-5.7%

$
$
$
$
$
$
$
$

23,100
(46,700)
8,100
(15,500)
(113,900)
36,400
(150,300)
(47,800)

1.6%
-100.0%
3.8%
-0.9%
-21.2%
47.8%
-32.6%
-29.7%

(102,500)

-34.2%

Ratio Analysis
Profitability Ratios
Gross Profit Ratio

Gross profit/Net sales revenue

Net Profit Margin

Net income/Net sales revenue

Return on Assets

Net income/Ave total assets

Return on Equity

Net income/Ave shareholders' equity

Earnings per Share

Net income-PS Div/Ave Shares O/S

Price Earnings Ratio

Price/EPS

Liquidity Ratios
Current Ratio

Current assets/Current liabilities

Quick Ratio (Acid-Test)

Quick assets/Current Liabilities

Receivables Turnover

Net sales revenue/Ave AR

Days Sales Outstanding

365/Receivables turnover

Inventory Turnover

COGS/Ave inventory

Days Sales in Inventory

365/Inventory turnover

Solvency Ratios
Debt to Assets

Total debt/Total assets

Debt to Equity

Total debt/Total shareholders' equity

Times Interest Earned

Operating income/Interest expense

Operating Efficiency
Total Asset Turnover

Net sales/ Ave total assets

2014
29.5%
2.7%
4.3%
12.0%
$

3.08
24.4

0.81
0.05
24.86
14.7
6.14
59.5

0.64
1.74
3.76

1.57