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Tire City

Tire City's financial statements show steady growth in net sales, gross profit, and net income from 1993 to 1997. Total assets increased from $6.58 million to $12.69 million over this period due to growth in retained earnings and a decrease in long term debt. Key financial ratios such as cost of sales to net sales, SG&A expenses to net sales, and tax rate remained relatively consistent during this period of growth.

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480 views3 pages

Tire City

Tire City's financial statements show steady growth in net sales, gross profit, and net income from 1993 to 1997. Total assets increased from $6.58 million to $12.69 million over this period due to growth in retained earnings and a decrease in long term debt. Key financial ratios such as cost of sales to net sales, SG&A expenses to net sales, and tax rate remained relatively consistent during this period of growth.

Uploaded by

rahulchohan2108
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Financial Statements for Tire City

INCOME STATEMENT

Forecasting
1993

1994

1995

1996

1997

16230
9430
6800
5195
160
119
1326
546
780
155

20355
11898
8457
6352
180
106
1819
822
997
200

23505
13612
9893
7471
213
94
2115
925
1190
240

28206
16359
11847
9026
213
101.25
2506
1103
1404
281

33847.2
19631
14216
10831
225
100.05
3060
1346
1713
343

508
2545
1630

609
3095
1838

706
3652
2190

4683

5542

6548

846
4513
1625
1407
8391

1015
5416
3046
972
10449

3232
1335
1897
6580

3795
1515
2280
7822

4163
1728
2435
8983

4363
1941
2422
10813

4403
2166
2237
12686

Crrnt maturity of LT debt


AP
Accrued Expenses
Total Crnt Liab

125
1042
1145
2312

125
1325
1432
2882

125
1440
1653
3218

125
1721
1974
3820

125
2065
2369
4559

Long term Debt


Common Stock
RE
Total Shareholder's equity

1000
1135
2133
3268

875
1135
2930
4065

750
1135
3880
5015

825
1135
4208
6168

540
1135
5912
7587

Total Liabilities

6580

7822

8983

10813

12686

Net Sales
Cost of Sales
Gross Profit
S,G&A expenses
Dep
Net intersest Expenses
Pretax incoem
Income taxes
Net Income
Dividends

BALANCE SHEET

Assets
Cash
AR
Inventories
Short term Investments
Total CA
Plant and Equip
Acc Dep
Net P&E
Total Assets
LIABILTIES

Growth in RE

NA

0.24388 0.233702

Cost to Sales
SG&A expenses to sales
AR to Sales
Inventoy to Sales
AP to Sales
Accrued expenses to Sales
Interst to Long term Debt
Tax rate
Dividends to Net income

1993
0.58
0.32
0.16
0.10
0.064
0.07
0.12
0.41
0.20

1994
0.58
0.31
0.15
0.09
0.065
0.07
0.12
0.45
0.20

1996
0
-1407

1997
0
-972

Cash to sales = 3% for 96,97

AFN
prior AFN

1995
0.58
0.32
0.16
0.09
0.061
0.07
0.13
0.44
0.20

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