The following list of accounts was adapted from the annual report of Wiley Industries:
Cash and cash equivalents ........ $ 21,989,062
Marketable securities ........... 9,199,490
Notes receivable, current, net ....... 3,560,747
Accounts receivable, net ......... 23,247,355
Inventories .............. 4,411,714
Prepaid expenses ............. 1,086,561
Miscellaneous current assets ........ 1,610,043
Notes receivable, long- term, net ...... 21,406,772
Miscellaneous long- term assets ....... 1,201,849
Leaseholds, net ............ 83,770,710
Rental properties, net ........... 3,451,108
Property, plant, and equipment, net ...... 9,349,670
Accounts payable ............ 16,901,824
Accrued liabilities ............. 2,092,851
Other current liabilities ........... 6,962,960
Income taxes payable ........... 761,626
Current maturities of long- term debt ..... 1,913,481
Deferred income taxes ........... 4,955,000
Long- term debt ............ 23,901,770
Class A common stock ............ 156,594
Class B common stock ............ 90,291
Paid- in capital ............. 3,340,075
Retained earnings ................ ?
Net sales ............... 241,625,862
Service fees .............. 51,601,113
Other fees and income ............ 7,611,539
Real estate finance and rental income ...... 8,988,027
Other revenue ............... 1,267,434
Cost of sales ............. 217,441,994
Expenses applicable to real estate ....... 8,159,375
Selling, general, and administrative expense . 37,515,701
Interest expense .............. 1,425,788
Income taxes .............. 19,520,000
Required:
Use a computer spreadsheet program to complete a ratio analysis.