Pinancle_Financials-horizontal analysis solution

Pinancle_Financials-horizontal analysis solution - Figure...

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Figure 8-9 Pinnacle Manufacturing Financial Statements Pinnacle Manufacturing Company Income Statement For the Year ended December 31 2004 2003 2002 Net Sales $150,737,628 $148,586,037 $144,686,413 Cost of goods sold 109,284,780 106,255,499 101,988,165 Gross Profit 41,452,848 42,330,538 42,698,248 Operating expenses 37,177,738 38,133,969 37,241,108 Income from operations 4,275,110 4,196,569 5,457,140 Other revenues and gains - - - Other expenses and losses 2,181,948 2,299,217 2,397,953 Income before income tax 2,093,162 1,897,352 3,059,187 Income tax 883,437 858,941 1,341,536 Net income for the year 1,209,725 1,038,411 1,717,651 Earnings per share 1.21 1.04 1.72 Pinnacle Manufacturing Company Balance Sheet As of December 31 Assets 2004 2003 2002 Current Assets Cash and Cash Equivalents $7,721,279 $7,324,846 $8,066,545 Net Receivables 13,042,165 8,619,857 7,936,409 Inventory 32,236,021 25,537,198 25,271,503 Other Current Assets 172,278 143,205 131,741 Total Current Assets 53,171,743 41,625,107 41,406,199 Property, Plant and Equipment 62,263,047 61,635,530 58,268,732 Total Assets $115,434,790 $103,260,637 $99,674,931 Liabilities Current Liabilities Accounts Payable $12,969,686 $9,460,776 $7,586,374 Short/Current Long Term Debt 15,375,819 10,298,668 9,672,670 Other Current Liabilities 2,067,643 1,767,361 1,682,551 Total Current Liabilities 30,413,148 21,526,804 18,941,595 Long Term Debt 24,420,090 22,342,006 22,379,920 Total Liabilities 54,833,238 43,868,810 41,321,515 Stockholders' Equity Common Stock 1,000,000 1,000,000 1,000,000 Additional paid-in capital 15,717,645 15,717,645 15,717,645 Retained Earnings 43,883,907 42,674,182 41,635,771 Total Stockholders' Equity 60,601,552 59,391,827 58,353,416 $115,434,790 $103,260,637 $99,674,931
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Pinnacle Manufacturing Company Balance Sheet - All Divisions As of December 31 Horizontal Analysis 2011 2010 2009 ASSETS Dollar Value % Inc (Dec) Dollar Value % Inc (Dec) Dollar Value CURRENT ASSETS Cash and cash equivalents $7,721,279 5.41% $7,324,846 -9.19% $8,066,545 Accounts receivable: Trade 14,008,633 46.13% 9,586,325 7.96% 8,879,352 Less: Allowance for bad debts (966,468) 0.00% (966,468) 2.49% (942,943) Inventory 32,236,021 26.23% 25,537,198 1.05% 25,271,503 Prepaid expenses 119,081 11.97% 106,353 3.61% 102,650 Deposits 53,197 44.35% 36,853 26.68% 29,092 Total current assets 53,171,743 27.74% 41,625,107 0.53% 41,406,199 PROPERTY, PLANT, AND EQUIPMENT Land 11,490,036 0.00% 11,490,036 176.23% 4,159,580 Automobiles 266,071 20.77% 220,313 0.00% 220,313 Accum. depreciation: Automobiles (198,218) 18.81% (166,835) 35.89% (122,769) Office equipment 5,494,707 4.89% 5,238,368 6.38% 4,924,055 Accum.depreciation: Office equipment (2,962,472) 38.67% (2,136,395) 50.77% (1,417,025) Manufacturing equipment 13,918,820 20.57% 11,543,824 3.26% 11,179,813 Accum. depreciation: Manufacturing equipment (3,319,983) 18.71% (2,796,754) 15.13% (2,429,272) Manufacturing building 41,106,800 8.01%
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Pinancle_Financials-horizontal analysis solution - Figure...

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