solution - Analysis of the financial statements of Apollo...

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Analysis of the financial statements of Apollo Shoes STATEMENTS OF INCOME APOLLO SHOES, INC. in thousands (except per share data) Common Size For year ended, December 31, 2006 2005 2006 2005 Net Sales 240,575.00 236,299.00 100.00% 100.00% Cost of Sales 141,569.00 120,880.00 58.85% 51.16% Gross Profit 99,006.00 115,419.00 41.15% 48.84% Selling, General and Administrative Expenses 71,998.00 61,949.00 29.93% 26.22% Interest Expense 875.00 - 0.36% Other Expense (Income) (204.00) (1,210.00) -0.08% -0.51% Earnings from Continuing Operations Before Taxes 26,337.00 54,680.00 10.95% 23.14% Income Tax Expense 10,271.00 21,634.00 4.27% 9.16% Earnings from Continuing Operations 16,066.00 33,046.00 6.68% 13.98% Discontinued Operations, Net of tax benefit (31,301.00) -13.25% Extraordinary Item, Net of tax benefit (11,695.00) -4.86% Net Income 4,371.00 1,745.00 1.82% 0.74% Earnings Per Common Share From Continuing Operations 1.98 4.08 Other (1.44) (3.86) Net Income 0.54 0.22 Weighted shares of common stock outstanding 8,105.00 8,105.00 STATEMENT OF FINANCIAL CONDITION APOLLO SHOES, INC. in thousands
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Common Size As of December 31 2006 2005 2006 2005 Assets Cash 3,245.00 3,509.00 8.82% 16.47% Accounts Receivable 15,148.00 2,738.00 41.17% 12.85% (Net of Allowances of $1,263 and 210, respectively) Inventory 15,813.00 13,823.00 42.98% 64.88% Prepaid Expenses 951.00 352.00 2.58% 1.65% Current Assets 35,157.00 20,422.00 95.55% 95.86% Property, Plant, and Equipment 1,174.00 300.00 3.19% 1.41%
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