Financial Statement Analysis
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WY corporation
| MINI CASE | ||
| DATA | ||
| W&Y Corporation Balance Sheet | ||
| 2017 | 2018 | |
| Cash | $300 | $495 |
| Accounts receivable | 700 | 915 |
| Inventories | 600 | 780 |
| Other current assets | 125 | 160 |
| Total current assets | $1,725 | $2,350 |
| Gross fixed assets | $4,650 | $4,950 |
| Accumulated depreciation | (1,700) | (2,200) |
| Net fixed assets | $2,950 | $2,750 |
| Total assets | $4,675 | $5,100 |
| LIABILITIES (DEBT) AND EQUITY | ||
| Accounts payable | $400 | $640 |
| Short-term notes payable | 250 | 300 |
| Total current liabilities | $650 | $940 |
| Long-term debt | $1,250 | $1,325 |
| Total liabilities | $1,900 | $2,265 |
| Common stock (par & paid in capital) | $1,100 | $1,100 |
| Retained earnings | 1,675 | 1,735 |
| Total common equity | $2,775 | $2,835 |
| Total liabilities and equity | $4,675 | $5,100 |
| W&Y Corporation Income Statement | ||
| Sales | $5,700 | $5,400 |
| Cost of goods sold | (3,700) | (3,600) |
| Gross profits | $2,000 | $1,800 |
| Operating expenses: | ||
| Selling and G&A expenses | ($820) | ($780) |
| Depreciation expenses | (340) | (500) |
| Total operating expenses | ($1,160) | ($1,280) |
| Operating income (earnings before interest and taxes) | $840 | $520 |
| Interest expense | (200) | (275) |
| Earnings before taxes | $640 | $245 |
| Income taxes | (230) | (65) |
| Net Income | $410 | $180 |
| Number of shares (thousands) | 150 | 150 |
| Dividends ($thousands) | $120 | $120 |
| Market price per share | $36 | $18 |
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