Balance sheet 2020 2019Cash 25,000.00 24,100.00Accounts

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Balance sheet 2020 2019Cash 25,000.00 24,100.00Accounts Receivable 763,900.00Inventories 763,445.00Total current assets 1,551,445.00Net fixed assets 1,593,819.00 1,343,707.00Total assets _________________ 2,895,152.00Accounts payable 400,500.00Notes payable 311,000.00 370,000.00Accruals 75,000.00 100,902.00Total current liabilities 871,402.00Long term debt 1,165,250.00 700,000.00Shareholder’s equity 1,043,750.00Retained earnings 280,000.00Total liabilities and shareholder’s equity _________________ 2,895,152.00Income statement 2020Sales revenue 5,075,000.00Cost of goods soldGross profitOperating expensesEBITInterest 93,000.00EBTTax 24,000.00Earnings available for preferred stocksPreferred dividends 3,000.00Earnings available for common stocks __________________Common stock dividends 13,000.00Inventory turnover 5.3Average collection period 57Asset turnover 1.6Debt ratio 0.57Gross profit margin 0.27Net profit margin 0.0071ROA 1.2ROE 2.7Current ratio 2.49Inventory turnover=cost of goods sold/InventoryAverage collection period=accounts receivable/average sales per day=accounts receivable/(annual sales/365)Asset turnover=sales/total assetsDebt ratio=total liabilities/total assetsGross profit margin=(sales-cost of goods sold)/sales=Gross profit/salesNet profit margin=net income or earnings available for common stockholders/salesROA=net income or earnings available for common stockholders/total assetsROE=net income or earnings available for common stockholders/common stock equityCurrent ratio=current assets/current liability

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