Integrity Technologies, Inc. Solvency Ratios:FYE 2010FYE 2009IndustryComparative Retained Earnings Statements Current Position Analysis:For the Years Ended December 31, 2003 and 2002 Working Capital, CA - CL20102009Current Ratio, CA / CL2.0 Retained Earnings, January 1$964,000 $689,000 Add net income for the year503,000 435,000 Quick Ratio, Qwk A / CL1.5 Total$1,467,000 $1,124,000 Deduct dividends:Accounts Receivable Analysis:On pereferred stock48,000 40,000 AR Turnover, Net Sales / Avg. AR12.0 On common stock120,000 120,000 Total$168,000 $160,000 Average Days' Sales in Receivables,Retained Earnings, December 31$1,299,000 $964,000 365 / AR Turnover30.0 Inventory Analysis:Inv. Turnover, COGS / Avg. Inv.8.0 Integrity Technologies, Inc. Comparative Income Statements # Days' Sales in Inventory,For the Years Ended December 31, 2003 and 2002 365 / Inv. Turnover46.0 20102009Other Solvency Ratios:Sales$6,130,000 $5,640,000 Ratio of Fixed Assets to Long-Term Debt,3.8 Sales returns and allowances30,000 40,000 FA (net) / LTDNet sales$6,100,000 $5,600,000 Cost of goods sold2,800,000 2,550,000 Debt to Equity Ratio, TL / TSE1.0 Gross profit$3,300,000 $3,050,000 Selling expenses$1,450,000 $1,440,000 Times Interest Earned, Administrative expenses1,000,000 910,000 Pretax Inc. + Int. Exp. / Int. Exp.
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