Joshua & White Technology: December 31 Balance Sheets (Thousands of Dollars) 2021 2020 Assets Cash $ 18,900
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Joshua & White Technology: December 31 Balance Sheets | ||||||
(Thousands of Dollars) | ||||||
2021 | 2020 | |||||
Assets | ||||||
Cash | $ | 18,900 | $ | 18,000 | ||
Short-term investments | 4,151 | 3,040 | ||||
Accounts receivable | 53,500 | 47,500 | ||||
Inventories | 79,000 | 57,000 | ||||
Total current assets | $ | 155,551 | $ | 125,540 | ||
Net fixed assets | 214,837 | 190,000 | ||||
Total assets | $ | 370,388 | $ | 315,540 | ||
Liabilities & Equity | ||||||
Accounts payable | $ | 34,650 | $ | 33,000 | ||
Accruals | 12,075 | 11,500 | ||||
Notes payable | 19,322 | 7,000 | ||||
Total current liabilities | $ | 66,047 | $ | 51,500 | ||
Long-term debt | 69,056 | 58,380 | ||||
Total liabilities | $ | 135,103 | $ | 109,880 | ||
Common stock | 160,000 | 160,000 | ||||
Retained earnings | 75,285 | 45,660 | ||||
Total common equity | $ | 235,285 | $ | 205,660 | ||
Total liabilities & equity | $ | 370,388 | $ | 315,540 |
Joshua & White Technology: Income Statements for Year | ||||||
Ending on December 31 (Thousands of Dollars) | ||||||
2021 | 2020 | |||||
Sales | $ | 399,000 | $ | 380,000 | ||
COGS excluding depreciation and amortization | 286,000 | 285,000 | ||||
Depreciation and amortization | 18,920 | 17,100 | ||||
Other operating expenses | 26,400 | 20,900 | ||||
EBIT | $ | 67,680 | $ | 57,000 | ||
Interest expense | 5,840 | 4,600 | ||||
EBT | $ | 61,840 | $ | 52,400 | ||
Taxes (25%) | 15,460 | 13,100 | ||||
Net income | $ | 46,380 | $ | 39,300 | ||
Common dividends | $ | 16,755 | $ | 15,720 | ||
Additions to retained earnings | $ | 29,625 | $ | 23,580 | ||
Other Data | 2021 | 2020 | ||||
Year-end stock price | $ | 78.00 | $ | 85.00 | ||
Number of shares (Thousands) | 4,052 | 4,000 | ||||
Lease payment (Thousands of Dollars) | $ | 19,000 | $ | 19,000 | ||
Sinking fund payment (Thousands of Dollars) | $ | 5,000 | $ | 5,000 |
Related Book For
Intermediate Financial Management
ISBN: 9780357516669
14th Edition
Authors: Eugene F Brigham, Phillip R Daves
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