ST Tire City, Inc (A) - 3,232 3,795 4,163 Accumulated...

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Exhibit 1 Financial Statements for Tire City, Inc. For years ending 12/31 1993 1994 1995 INCOME STATEMENT Net sales  16,230   20,355   23,505  Cost of sales  9,430   11,898   13,612  Gross profit  6,800   8,457   9,893  Selling, general and administrative expenses  5,195   6,352   7,471  Depreciation  160   180   213  Net interest expense  119   106   94  Pre-tax income  1,326   1,819   2,115  Income taxes  546   822   925  Net income  780   997   1,190  Dividends  155   200   240  Income tax rate 41.18% 45.19% 43.74% BALANCE SHEET Assets Cash balances  508   609   706  Accounts receivable  2,545   3,095   3,652  Inventories  1,630   1,838   2,190  Total current assets  4,683   5,542   6,548  Gross plant and equipment
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Unformatted text preview: 3,232 3,795 4,163 Accumulated depreciation 1,335 1,515 1,728 Net plant and equipment 1,897 2,280 2,435 Total assets 6,580 7,822 8,983 Liabilities Current maturities of long-term debt 125 125 125 Bank debt Accounts payable 1,042 1,325 1,440 Accrued expenses 1,145 1,432 1,653 Total current liabilities 2,312 2,882 3,218 Long-term debt 1,000 875 750 Common stock 1,135 1,135 1,135 Retained earnings 2,133 2,930 3,880 Total shareholders' equity 3,268 4,065 5,015 Total liabilities and equity 6,580 7,822 8,983 4,041.45...
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