Based on these statements.

How do you think is this company organized? bureaucratic or flat?

How does this company run in terms of company strategic making hierarchy?

Shareholder Equity Deginn g in Year 14 $000s Repayment of Balance Overdraft Loan Bank Loan 1-Year Loan Common Stock (see Note 9) 9,235 -150 9,085 Principal 5-Year Loan Additional Capital (see Note 10) -515,407 -119,679 -635,088 (see Note 4) 10-Year Loan 10,000 Retained Earnings 1,162,952 +357,276 1,520,228 Interest Payments - Year 14 Overdraft Loan Total Shareholder Equity 656,780 +237,445 894,225 Bank Loans (1-year, 5-year, 10-year) 850 Return on Average Equity (see Note 11) 46.1% Stock Repurchases (300 shares repurchased @ $399.43) 119,829 Income Tax Payments 153, 118 Notes to Balance Sheet (all dollar and share figures in thousands) Dividend Payments to Shareholders Note 1: Accounts receivable equals 25% of the camera revenues and 3rd-party drone Charitable Contributions ooo revenues generated in Year 14 (to be collected in Year 15). Cash Fines (assessed by instructor) Note 2: A 10% reserve of camera and drone components is kept at all times. Note 3: For more details, see the Assembly and Facility Operations report. Total Cash Outlays 975,099 Note 4: Accounts payable equals 25% of the cost of camera and drone components Net Cash Balance ($000s at the end of Year 14) 668,071 used in Year 14 (to be paid in Year 15). Note 5: Loans for overdrafts carry an interest rate 2% above the 1-year loan rate. Notes to Cash Flow Statement Note 6: The company's 1-year bank loan interest rate in Year 14 was 4.0%. Note 1: Receipts from sales equals all direct-sale drone revenues plus 75% of camera Note 7: Principal amount of 5-year and 10-year bank loans due to be paid in Year 15. and 3rd-party drone revenues generated in Year 14. Note 2: Payments to component suppliers equals 75% of the cost of components Note 8: Long-term bank loans outstanding: Out- Annual Year 15 used in Year 14 and 25% of the cost of components used in Year 13. Loan Initial Original Interest standing Principal Interest Note 3: Production and assembly expenses include all Year 14 production-related ex- No. Year Principal Rate Term Principal Payment Payable penses except for depreciation (which is a non-cash accounting charge). Note 4: Overdraft and 1-year loans received in Year 13 were repaid in full in Year 14. Y1 60,000 7.5 % 10-Yr O Interest on overdraft and 1-year loans received in Y13 was also paid in Y14. Y4 20,000 8.5 % 10-Yr Y4 80,000 8.5% 10-Yr 0 0 Y14 10,000 4.5% 5-Yr 10,000 2,000 450 Selected Financial Statistics N 26 0 0 VOULAWN - Credit - Debt / Equity Percentage (Debt : Equity) 10:90 Rating Interest Coverage Ratio (oper. prof. : int. exp.) 1,000.00 Measures Current Ratio (current assets : current liabilities) 8.86 Credit Rating (at the end of Year 14) A+ Operating Profit Margin (operating profit : net sales revenues) 42.3% Note 9: There are 18,170 shares of stock outstanding at a par value of $0.50 per share. Net Profit Margin (net profit : net sales revenues) 30.0 % Note 10: Total $ amount above par value that shareholders paid to purchase stock. Dividend Payout (dividend per share : earnings per share) 0.0% Note 11: The formula for Return After-Tax Profit Market Capitalization ($535.72 stock price x 18,170 shares ) $9,734,03 on Average Equity is: (Beginning Equity + Ending Equity) : 2come Statement ($000) North Europe Asia Latin Company America Africa Pacific America Total Notes to Income Statement AC Camera Revenues 146,223 122,165 128,473 91,240 488,101 Revenues listed here have been ad UAV Drone Revenues 217,424 212,398 170,231 104,300 704,353 justed for promotional discounts an Total Revenues 363,647 334,563 298,704 195,540 1, 192,454 exchange rates. See the Market Seg ment Performance reports for detail Cost of Goods Sold 115,890 157,654 144,863 96,640 515,047 on promotional discount and ex- Delivery Costs 3,834 19,019 22,784 15,247 60,884 change rate adjustments to revenues. Marketing Costs 35,500 27,000 23,880 16,100 102,480 2 Other Income (Expense) will include Administrative Expenses 2,386 2,666 2,893 2,048 9,993 charitable contributions, instructor- Operating Profit (Loss) 206,037 imposed fines (appearing as nega- 128,224 104,284 65,505 504,050 tive), and instructor-awar " refunds (appearing as positive). Interest Income (Expense) 6,344 3 The income tax rate is 30%. If a net Profitability and Payout Year 13 Year 14 Other Income (Expense)2 O loss was recorded in Year 13, the loss Earnings Per Share $14.65 $19.66 Pre-Tax Profit (Loss) 510,394 is carried forward and may offset Income Taxes3 153,118 some or all taxable Year 14 profit and Dividends Per Share $0.00 $0.00 reduce the company's tax liability in Net Profit (Loss) 357,276 Year 14