How do I do this Panther Marine Ratio Analysis June 30, 2017, 2016, 2015 Instructions Calculate each of the below ratios for the current year FOLLOW the below steps to complete the ratio analysis 1 Round ALL answers 2 decimal places 2 Must SHOW ratio descriptions (see current ratio for example) 3 MUST use excel formulas and links to IS comparative and BS comparative worksheets within this workbook (see current ratio for example) 4 MUST indicate if current year answer is favorable, unfavorable, or same in realtion to prior year AND industry (see current ratio for example) 5 USE information at bottom of this worksheet to calculate certain ratios 6 If portion of ratio is not available, still use in ratio description and use 0 as part of formula 7 Inventory calculations do NOT include estimated returns inventory 8 USE below ratios and comparative statements to write a memo to Panther Marine management explaining your findings 2017 06 30 2016 06 30 2015 06 30 INDUSTRY Prior Year Industry Favorable, Unfavorable, Same Liquidity Current Ratio 2 01 1 2 10 2 10 2 20 Prior Year Unfavorable Current Assets 1,428,076 1,513,761 1,460,080 Industry Unfavorble Current Liabilities 709,775 752,362 723,971 Quick Ratio 1 41 1 41 1 62 Accounts Receivable Turnover 7 44 7 63 10 00 Inventory Turnover 2 76 3 04 2 50 Profitability Profit Margin 4 45 2 32 3 5 Asset Turnover 1 10 1 12 1 02 Return on Total Assets 4 89 2 60 10 50 Return on Common Shareholders' Equity 36 88 19 58 18 30 Earnings per Share (EPS) $3 68 $(1 99) $3 05 Price Earnings (P E ) Ratio 11 13 (15 54) 12 54 Dividends per Share $5 00 $6 00 $2 00 Solvency Ratios Ratio of Fixed Assets to Long Term Liabilities 0 83 0 78 0 80 Fixed Assets (net) Long Term Liabilities 2017 06 30 2016 06 30 2015 06 30 Common Dividends 200,000 250,000 300,000 Weighted Average Common Shares 50,000 50,000 50,000 Market Price per Share 46 41 31 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 June 30, 2013 Adjusted Adjusted Adjusted Adjusted Adjusted Trial Balance Trial Balance Trial Balance Trial Balance Trial Balance Acct No Account Title Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr 100 Cash 384,504 00 407,574 24 392,194 08 419,109 36 376,813 92 102 Accounts Receivable 555,666 00 589,005 96 566,779 32 605,675 94 544,552 68 103 Allowance for Doubtful Accounts 22,580 00 23,934 80 19,588 80 24,612 20 22,128 40 104 Merchandise Inventory 456,897 00 484,310 82 466,034 94 498,017 73 447,759 06 105 Estimated Returns Inventory 32,500 00 34,450 00 33,150 00 35,425 00 31,850 00 106 Office Supplies 5,689 00 6,030 34 5,802 78 6,201 01 5,575 22 107 Prepaid Insurance 15,400 00 16,324 00 15,708 00 16,786 00 15,092 00 120 Investments Trading 80,000 00 84,800 00 81,600 00 87,200 00 78,400 00 121 Investments Available for Sale 35,400 00 37,524 00 36,108 00 38,586 00 34,692 00 122 Investments Held to Maturity 80,000 00 84,800 00 81,600 00 87,200 00 78,400 00 123 Valuation Allowance 52,000 00 55,120 00 53,040 00 56,680 00 50,960 00 140 Land 1,500,000 00 1,500,000 00 1,500,000 00 1,500,000 00 1,500,000 00 145 Building 1,200,000 00 1,200,000 00 1,200,000 00 1,200,000 00 1,200,000 00 146 Accumulated Depreciation Building 750,000 00 720,000 00 690,000 00 660,000 00 630,000 00 151 Equipment 85,000 00 80,000 00 80,000 00 80,000 00 75,000 00 152 Accumulated Depreciation Equipment 68,000 00 59,500 00 51,000 00 42,500 00 34,000 00 153 Office Furniture 14,000 00 14,000 00 14,000 00 14,000 00 14,000 00 154 Accumulated Depreciation Office Furniture 12,000 00 10,000 00 8,000 00 6,000 00 4,000 00 201 Accounts Payable 680,980 00 721,838 80 694,599 60 168,900 00 170,000 00 202 Wages Payable 203 Interest Payable 204 Dividends Payable 205 Unearned Rent 10,000 00 10,600 00 10,200 00 10,900 00 9,800 00 206 Customer Refunds Payable 18,795 00 19,922 70 19,170 90 20,486 55 18,419 10 250 Notes Payable 650,000 00 689,000 00 663,000 00 708,500 00 637,000 00 251 Bonds Payable 1,300,000 00 1,378,000 00 1,000,000 00 1,417,000 00 1,274,000 00 252 Premium on Bonds Payable 56,000 00 50,000 00 35,000 00 55,000 00 45,000 00 253 Discount on Bonds Payable 16,000 00 10,000 00 10,000 00 12,000 00 15,000 00 252 Mortgage (Warehouse) Payable 300,000 00 318,000 00 950,000 00 920,000 00 1,000,000 00 300 Common Stock, $2 Par, 100,000 Authorized 50,000 shares Issued Outstanding 100,000 00 100,000 00 100,000 00 100,000 00 100,000 00 301 Paid In Capital Excess of Par 350,000 00 371,000 00 357,000 00 381,500 00 343,000 00 330 Retained Earnings 222,158 00 258,022 60 358,176 52 281,556 86 294,694 17 331 Cash Dividends 200,000 00 250,000 00 300,000 00 300,000 00 250,000 00 340 Treasury Stock 50,000 00 60,000 00 20,000 00 20,000 00 10,000 00 341 Unrealized (Gain) Loss Available for Sale Securities 500 Sales 4,056,800 00 4,137,936 00 4,302,480 00 4,097,368 00 3,935,096 00 600 Cost of Goods Sold 1,285,698 00 1,311,411 96 1,464,267 80 1,298,554 98 1,247,127 06 700 Wage Expense (hourly workers) 756,894 00 772,031 88 832,583 40 764,462 94 734,187 18 701 Salaries Expense (Exempt Staff) 800,000 00 816,000 00 880,000 00 808,000 00 776,000 00 702 Marketing Expense 295,000 00 300,900 00 324,500 00 297,950 00 286,150 00 703 Travel and Entertainment Expense 56,789 00 57,924 78 62,467 90 57,356 89 55,085 33 704 Bad Debt Expense 42,185 00 43,028 70 46,403 50 42,606 85 40,919 45 705 Property Tax Expense 500,000 00 510,000 00 550,000 00 505,000 00 485,000 00 706 Office Maintenance Repair Expense 2,000 00 2,040 00 2,200 00 2,020 00 1,940 00 707 Accounting Expenses 10,000 00 10,200 00 65,000 00 10,100 00 9,700 00 708 Insurance Expense 12,000 00 12,240 00 13,200 00 12,120 00 11,640 00 709 Utilities Expense 65,450 00 66,759 00 71,995 00 66,104 50 63,486 50 710 Office Supplies Expense 546 00 556 92 600 60 551 46 529 62 711 Telecommunications Expense 5,425 00 5,533 50 5,967 50 5,479 25 5,262 25 712 Depreciation Expense Building 30,000 00 30,000 00 30,000 00 30,000 00 30,000 00 713 Depreciation Expense Equipment 8,500 00 8,500 00 8,500 00 8,500 00 8,500 00 714 Depreciation Expense Office Furniture 2,000 00 2,000 00 2,000 00 2,000 00 2,000 00 800 Rent Income 8,000 00 2,000 00 10,000 00 15,000 00 5,000 00 801 Unrealized Gain Trading Securities 5,500 00 1,200 00 5,600 00 16,000 00 8,000 00 802 Realized Gain Investment Securities 85,460 00 56,485 00 8,690 00 28,560 00 15,000 00 900 Interest Expense 25,000 00 26,500 00 27,500 00 27,250 00 24,500 00 901 Unrealized Loss Trading Securities 2,500 00 2,650 00 2,750 00 2,725 00 2,450 00 902 Realized Loss Investment Securities 33,230 00 35,223 80 36,553 00 36,220 70 32,565 40 Total 8,696,273 00 8,696,273 00 8,927,439 90 8,927,439 90 9,282,505 82 9,282,505 82 8,953,883 61 8,953,883 61 8,545,137 67 8,545,137 67 Total Expenses and Revenue 3,933,217 00 4,155,760 00 4,013,500 54 4,197,621 00 4,426,488 70 4,326,770 00 3,977,002 57 4,156,928 00 3,817,042 79 3,963,096 00 Net Income (Loss) 222,543 00 184,120 46 (99,718 70) 179,925 43 146,053 21 Panther Marine Comparative Income Statement For the Years end June 30, 2017, 2016, 2015, 2014, 2013 2017 06 30 2016 06 30 2015 06 30 2014 06 30 2013 06 30 Sales Revenue Net Credit Sales 4,056,800 00 4,137,936 00 4,302,480 00 4,097,368 00 3,935,096 00 Cost of Goods Sold 1,285,698 00 1,311,411 96 1,464,267 80 1,298,554 98 1,247,127 06 Gross Profit 2,771,102 00 2,826,524 04 2,838,212 20 2,798,813 02 2,687,968 94 Operating Expenses Wage Expense (hourly workers) 756,894 00 772,031 88 832,583 40 764,462 94 734,187 18 Salaries Expense (Exempt Staff) 800,000 00 816,000 00 880,000 00 808,000 00 776,000 00 Marketing Expense 295,000 00 300,900 00 324,500 00 297,950 00 286,150 00 Travel and Entertainment Expense 56,789 00 57,924 78 62,467 90 57,356 89 55,085 33 Bad Debt Expense 42,185 00 43,028 70 46,403 50 42,606 85 40,919 45 Property Tax Expense 500,000 00 510,000 00 550,000 00 505,000 00 485,000 00 Office Maintenance Repair Expense 2,000 00 2,040 00 2,200 00 2,020 00 1,940 00 Accounting Expenses 10,000 00 10,200 00 65,000 00 10,100 00 9,700 00 Insurance Expense 12,000 00 12,240 00 13,200 00 12,120 00 11,640 00 Utilities Expense 65,450 00 66,759 00 71,995 00 66,104 50 63,486 50 Office Supplies Expense 546 00 556 92 600 60 551 46 529 62 Telecommunications Expense 5,425 00 5,533 50 5,967 50 5,479 25 5,262 25 Depreciation Expense Building 30,000 00 30,000 00 30,000 00 30,000 00 30,000 00 Depreciation Expense Equipment 8,500 00 8,500 00 8,500 00 8,500 00 8,500 00 Depreciation Expense Office Furniture 2,000 00 2,000 00 2,000 00 2,000 00 2,000 00 Total Operating Expenses 2,586,789 00 2,637,714 78 2,895,417 90 2,612,251 89 2,510,400 33 Income from Operations 184,313 00 188,809 26 (57,205 70) 186,561 13 177,568 61 Other Revenues and Gains Rent Income 8,000 00 2,000 00 10,000 00 15,000 00 5,000 00 Unrealized Gain Trading Securities 5,500 00 1,200 00 5,600 00 16,000 00 8,000 00 Realized Gain Investment Securities 85,460 00 56,485 00 8,690 00 28,560 00 15,000 00 Total Other Revenue and Gains 98,960 00 59,685 00 24,290 00 59,560 00 28,000 00 Other Expenses and Losses Interest Expense 25,000 00 26,500 00 27,500 00 27,250 00 24,500 00 Unrealized Loss Trading Securities 2,500 00 2,650 00 2,750 00 2,725 00 2,450 00 Realized Loss Investment Securities 33,230 00 35,223 80 36,553 00 36,220 70 32,565 40 Total Other Expenses and Losses 60,730 00 64,373 80 66,803 00 66,195 70 59,515 40 Net Income (Loss) 222,543 00 184,120 46 (99,718 70) 179,925 43 146,053 21 Common Dividends 200,000 250,000 300,000 300,000 Weighted Average Common Shares 50,000 50,000 50,000 50,000 Market Price per Common Share 46 00 41 00 31 00 42 00 Panther Marine Balance Sheet June 30, 2017, 2016, 2015, 2014, 2013 2017 06 30 2016 06 30 2015 06 30 2014 06 30 2013 06 30 ASSETS Current assets Cash 384,504 00 407,574 24 392,194 08 419,109 36 376,813 92 Accounts Receivable 555,666 00 589,005 96 566,779 32 605,675 94 544,552 68 Allowance for Doubtful Accounts (22,580 00) (23,934 80) (19,588 80) (24,612 20) (22,128 40) Merchandise Inventory 456,897 00 484,310 82 466,034 94 498,017 73 447,759 06 Estimated Returns Inventory 32,500 00 34,450 00 33,150 00 35,425 00 31,850 00 Office Supplies 5,689 00 6,030 34 5,802 78 6,201 01 5,575 22 Prepaid Insurance 15,400 00 16,324 00 15,708 00 16,786 00 15,092 00 Total Current Assets 1,428,076 00 1,513,760 56 1,460,080 32 1,556,602 84 1,399,514 48 Property, plant equipment Land 1,500,000 00 1,500,000 00 1,500,000 00 1,500,000 00 1,500,000 00 Building 1,200,000 00 1,200,000 00 1,200,000 00 1,200,000 00 1,200,000 00 Accumulated Depreciation Building (750,000 00) (720,000 00) (690,000 00) (660,000 00) (630,000 00) Equipment 85,000 00 80,000 00 80,000 00 80,000 00 75,000 00 Accumulated Depreciation Equipment (68,000 00) (59,500 00) (51,000 00) (42,500 00) (34,000 00) Office Furniture 14,000 00 14,000 00 14,000 00 14,000 00 14,000 00 Accumulated Depreciation Office Furniture (12,000 00) (10,000 00) (8,000 00) (6,000 00) (4,000 00) Total Property, plant equipment 1,969,000 00 2,004,500 00 2,045,000 00 2,085,500 00 2,121,000 00 Other Assets Investments Trading 80,000 00 84,800 00 81,600 00 87,200 00 78,400 00 Investments Available for Sale 35,400 00 37,524 00 36,108 00 38,586 00 34,692 00 Investments Held to Maturity 80,000 00 84,800 00 81,600 00 87,200 00 78,400 00 Valuation Allowance 52,000 00 55,120 00 53,040 00 56,680 00 50,960 00 Total Other Assets 247,400 00 262,244 00 252,348 00 269,666 00 242,452 00 Total Assets 3,644,476 00 3,780,504 56 3,757,428 32 3,911,768 84 3,762,966 48 LIABILITIES STOCKHOLDER'S EQUITY LIABILITIES Current Liabilities Accounts Payable 680,980 00 721,838 80 694,599 60 168,900 00 170,000 00 Unearned Rent 10,000 00 10,600 00 10,200 00 10,900 00 9,800 00 Customer Refunds Payable 18,795 00 19,922 70 19,170 90 20,486 55 18,419 10 Total Current Liabilities 709,775 00 752,361 50 723,970 50 200,286 55 198,219 10 Long term Liabilities Notes Payable 650,000 00 689,000 00 663,000 00 708,500 00 637,000 00 Bonds Payable 1,300,000 00 1,378,000 00 1,000,000 00 1,417,000 00 1,274,000 00 Premium on Bonds Payable 56,000 00 50,000 00 35,000 00 55,000 00 45,000 00 Discount on Bonds Payable (16,000 00) (10,000 00) (10,000 00) (12,000 00) (15,000 00) Mortgage (Warehouse) Payable 300,000 00 318,000 00 950,000 00 920,000 00 1,000,000 00 Total Long term Liabilities 2,290,000 00 2,425,000 00 2,638,000 00 3,088,500 00 2,941,000 00 Total Liabilities 2,999,775 00 3,177,361 50 3,361,970 50 3,288,786 55 3,139,219 10 STOCKHOLDER'S EQUITY Common Stock, $2 Par, 100,000 Authorized 50,000 shares Issued Outstanding 100,000 00 100,000 00 100,000 00 100,000 00 100,000 00 Paid In Capital Excess of Par 350,000 00 371,000 00 357,000 00 381,500 00 343,000 00 Treasury Stock (50,000 00) (60,000 00) (20,000 00) (20,000 00) (10,000 00) Cash Dividends (200,000 00) (250,000 00) (300,000 00) (300,000 00) (250,000 00) Ending Retained Earnings 444,701 00 442,143 06 258,457 82 461,482 29 440,747 38 Total Stockholder's Equity 644,701 00 603,143 06 395,457 82 622,982 29 623,747 38 Total Liabilities and Stockholder's Equity 3,644,476 00 3,780,504 56 3,757,428 32 3,911,768 84 3,762,966 48 TOTAL ASSETS 3,644,476 00 3780504 56 3757428 32 3911768 84 3762966 48 TOTAL LIAB EQUITY 3,644,476 00 3780504 56 3757428 32 3911768 84 3762966 48 VARIANCE 0 0 0 0 0

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Question: How do I do this? Panther Marine Ratio Analysis June 30, 2017, 2016, 2015 Instructions: Calculate each of the below ratios for the current year.

How do I do this?

Panther Marine
Ratio Analysis
June 30, 2017, 2016, 2015
Instructions: Calculate each of the below ratios for the current year. FOLLOW the below steps to complete the ratio analysis:
1. Round ALL answers 2 decimal places
2. Must SHOW ratio descriptions (see current ratio for example)
3. MUST use excel formulas and links to IS comparative and BS comparative worksheets within this workbook (see current ratio for example)
4. MUST indicate if current year answer is favorable, unfavorable, or same in realtion to prior year AND industry (see current ratio for example)
5. USE information at bottom of this worksheet to calculate certain ratios
6. If portion of ratio is not available, still use in ratio description and use 0 as part of formula
7. Inventory calculations do NOT include estimated returns inventory
8. USE below ratios and comparative statements to write a memo to Panther Marine management explaining your findings

	2017-06-30		2016-06-30	2015-06-30	INDUSTRY	Prior Year/Industry: Favorable, Unfavorable, Same
Liquidity
Current Ratio	2.01	1	2.10	2.10	2.20	Prior Year - Unfavorable
Current Assets	1,428,076		1,513,761	1,460,080		Industry - Unfavorble
Current Liabilities	709,775		752,362	723,971

Quick Ratio			1.41	1.41	1.62





Accounts Receivable Turnover			7.44	7.63	10.00





Inventory Turnover			2.76	3.04	2.50





Profitability

Profit Margin			4.45%	-2.32%	3.5%



Asset Turnover			1.10	1.12	1.02





Return on Total Assets			4.89%	-2.60%	10.50%



Return on Common Shareholders' Equity			36.88%	-19.58%	18.30%






Earnings per Share (EPS)			$3.68	$(1.99)	$3.05




Price-Earnings (P/E ) Ratio			11.13	(15.54)	12.54



Dividends per Share			$5.00	$6.00	$2.00




Solvency Ratios

Ratio of Fixed Assets to Long-Term Liabilities			0.83	0.78	0.80
Fixed Assets (net)
Long-Term Liabilities

	2017-06-30		2016-06-30	2015-06-30
Common Dividends	200,000		250,000	300,000
Weighted Average Common Shares	50,000		50,000	50,000
Market Price per Share	46		41	31

		June 30, 2017		June 30, 2016		June 30, 2015		June 30, 2014		June 30, 2013
		Adjusted		Adjusted		Adjusted		Adjusted		Adjusted
		Trial Balance		Trial Balance		Trial Balance		Trial Balance		Trial Balance
Acct. No.	Account Title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
100	Cash	384,504.00		407,574.24		392,194.08		419,109.36		376,813.92
102	Accounts Receivable	555,666.00		589,005.96		566,779.32		605,675.94		544,552.68
103	Allowance for Doubtful Accounts		22,580.00		23,934.80		19,588.80		24,612.20		22,128.40
104	Merchandise Inventory	456,897.00		484,310.82		466,034.94		498,017.73		447,759.06
105	Estimated Returns Inventory	32,500.00		34,450.00		33,150.00		35,425.00		31,850.00
106	Office Supplies	5,689.00		6,030.34		5,802.78		6,201.01		5,575.22
107	Prepaid Insurance	15,400.00		16,324.00		15,708.00		16,786.00		15,092.00
120	Investments - Trading	80,000.00		84,800.00		81,600.00		87,200.00		78,400.00
121	Investments - Available for Sale	35,400.00		37,524.00		36,108.00		38,586.00		34,692.00
122	Investments - Held to Maturity	80,000.00		84,800.00		81,600.00		87,200.00		78,400.00
123	Valuation Allowance	52,000.00		55,120.00		53,040.00		56,680.00		50,960.00
140	Land	1,500,000.00		1,500,000.00		1,500,000.00		1,500,000.00		1,500,000.00
145	Building	1,200,000.00		1,200,000.00		1,200,000.00		1,200,000.00		1,200,000.00
146	Accumulated Depreciation - Building		750,000.00		720,000.00		690,000.00		660,000.00		630,000.00
151	Equipment	85,000.00		80,000.00		80,000.00		80,000.00		75,000.00
152	Accumulated Depreciation - Equipment		68,000.00		59,500.00		51,000.00		42,500.00		34,000.00
153	Office Furniture	14,000.00		14,000.00		14,000.00		14,000.00		14,000.00
154	Accumulated Depreciation - Office Furniture		12,000.00		10,000.00		8,000.00		6,000.00		4,000.00
201	Accounts Payable		680,980.00		721,838.80		694,599.60		168,900.00		170,000.00
202	Wages Payable		-		-
203	Interest Payable		-		-
204	Dividends Payable		-		-
205	Unearned Rent		10,000.00		10,600.00		10,200.00		10,900.00		9,800.00
206	Customer Refunds Payable		18,795.00		19,922.70		19,170.90		20,486.55		18,419.10
250	Notes Payable		650,000.00		689,000.00		663,000.00		708,500.00		637,000.00
251	Bonds Payable		1,300,000.00		1,378,000.00		1,000,000.00		1,417,000.00		1,274,000.00
252	Premium on Bonds Payable		56,000.00		50,000.00		35,000.00		55,000.00		45,000.00
253	Discount on Bonds Payable	16,000.00		10,000.00		10,000.00		12,000.00		15,000.00
252	Mortgage (Warehouse) Payable		300,000.00		318,000.00		950,000.00		920,000.00		1,000,000.00
300	Common Stock, $2 Par, 100,000 Authorized; 50,000 shares Issued/Outstanding		100,000.00		100,000.00		100,000.00		100,000.00		100,000.00
301	Paid In Capital - Excess of Par		350,000.00		371,000.00		357,000.00		381,500.00		343,000.00
330	Retained Earnings		222,158.00		258,022.60		358,176.52		281,556.86		294,694.17
331	Cash Dividends	200,000.00		250,000.00		300,000.00		300,000.00		250,000.00
340	Treasury Stock	50,000.00		60,000.00		20,000.00		20,000.00		10,000.00
341	Unrealized (Gain) Loss Available for Sale Securities	-	-	-	-
500	Sales		4,056,800.00		4,137,936.00		4,302,480.00		4,097,368.00		3,935,096.00
600	Cost of Goods Sold	1,285,698.00		1,311,411.96		1,464,267.80		1,298,554.98		1,247,127.06
700	Wage Expense (hourly workers)	756,894.00		772,031.88		832,583.40		764,462.94		734,187.18
701	Salaries Expense (Exempt Staff)	800,000.00		816,000.00		880,000.00		808,000.00		776,000.00
702	Marketing Expense	295,000.00		300,900.00		324,500.00		297,950.00		286,150.00
703	Travel and Entertainment Expense	56,789.00		57,924.78		62,467.90		57,356.89		55,085.33
704	Bad Debt Expense	42,185.00		43,028.70		46,403.50		42,606.85		40,919.45
705	Property Tax Expense	500,000.00		510,000.00		550,000.00		505,000.00		485,000.00
706	Office Maintenance & Repair Expense	2,000.00		2,040.00		2,200.00		2,020.00		1,940.00
707	Accounting Expenses	10,000.00		10,200.00		65,000.00		10,100.00		9,700.00
708	Insurance Expense	12,000.00		12,240.00		13,200.00		12,120.00		11,640.00
709	Utilities Expense	65,450.00		66,759.00		71,995.00		66,104.50		63,486.50
710	Office Supplies Expense	546.00		556.92		600.60		551.46		529.62
711	Telecommunications Expense	5,425.00		5,533.50		5,967.50		5,479.25		5,262.25
712	Depreciation Expense - Building	30,000.00		30,000.00		30,000.00		30,000.00		30,000.00
713	Depreciation Expense - Equipment	8,500.00		8,500.00		8,500.00		8,500.00		8,500.00
714	Depreciation Expense - Office Furniture	2,000.00		2,000.00		2,000.00		2,000.00		2,000.00
800	Rent Income		8,000.00		2,000.00		10,000.00		15,000.00		5,000.00
801	Unrealized Gain - Trading Securities		5,500.00		1,200.00		5,600.00		16,000.00		8,000.00
802	Realized Gain - Investment Securities		85,460.00		56,485.00		8,690.00		28,560.00		15,000.00
900	Interest Expense	25,000.00		26,500.00		27,500.00		27,250.00		24,500.00
901	Unrealized Loss - Trading Securities	2,500.00		2,650.00		2,750.00		2,725.00		2,450.00
902	Realized Loss - Investment Securities	33,230.00		35,223.80		36,553.00		36,220.70		32,565.40
	Total	8,696,273.00	8,696,273.00	8,927,439.90	8,927,439.90	9,282,505.82	9,282,505.82	8,953,883.61	8,953,883.61	8,545,137.67	8,545,137.67
	Total Expenses and Revenue	3,933,217.00	4,155,760.00	4,013,500.54	4,197,621.00	4,426,488.70	4,326,770.00	3,977,002.57	4,156,928.00	3,817,042.79	3,963,096.00
	Net Income (Loss)	222,543.00		184,120.46			(99,718.70)	179,925.43		146,053.21

Panther Marine
Comparative Income Statement
For the Years end June 30, 2017, 2016, 2015, 2014, 2013
	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30
Sales Revenue
Net Credit Sales	4,056,800.00	4,137,936.00	4,302,480.00	4,097,368.00	3,935,096.00
Cost of Goods Sold	1,285,698.00	1,311,411.96	1,464,267.80	1,298,554.98	1,247,127.06
Gross Profit	2,771,102.00	2,826,524.04	2,838,212.20	2,798,813.02	2,687,968.94
Operating Expenses
Wage Expense (hourly workers)	756,894.00	772,031.88	832,583.40	764,462.94	734,187.18
Salaries Expense (Exempt Staff)	800,000.00	816,000.00	880,000.00	808,000.00	776,000.00
Marketing Expense	295,000.00	300,900.00	324,500.00	297,950.00	286,150.00
Travel and Entertainment Expense	56,789.00	57,924.78	62,467.90	57,356.89	55,085.33
Bad Debt Expense	42,185.00	43,028.70	46,403.50	42,606.85	40,919.45
Property Tax Expense	500,000.00	510,000.00	550,000.00	505,000.00	485,000.00
Office Maintenance & Repair Expense	2,000.00	2,040.00	2,200.00	2,020.00	1,940.00
Accounting Expenses	10,000.00	10,200.00	65,000.00	10,100.00	9,700.00
Insurance Expense	12,000.00	12,240.00	13,200.00	12,120.00	11,640.00
Utilities Expense	65,450.00	66,759.00	71,995.00	66,104.50	63,486.50
Office Supplies Expense	546.00	556.92	600.60	551.46	529.62
Telecommunications Expense	5,425.00	5,533.50	5,967.50	5,479.25	5,262.25
Depreciation Expense - Building	30,000.00	30,000.00	30,000.00	30,000.00	30,000.00
Depreciation Expense - Equipment	8,500.00	8,500.00	8,500.00	8,500.00	8,500.00
Depreciation Expense - Office Furniture	2,000.00	2,000.00	2,000.00	2,000.00	2,000.00
Total Operating Expenses	2,586,789.00	2,637,714.78	2,895,417.90	2,612,251.89	2,510,400.33
Income from Operations	184,313.00	188,809.26	(57,205.70)	186,561.13	177,568.61
Other Revenues and Gains
Rent Income	8,000.00	2,000.00	10,000.00	15,000.00	5,000.00
Unrealized Gain - Trading Securities	5,500.00	1,200.00	5,600.00	16,000.00	8,000.00
Realized Gain - Investment Securities	85,460.00	56,485.00	8,690.00	28,560.00	15,000.00
Total Other Revenue and Gains	98,960.00	59,685.00	24,290.00	59,560.00	28,000.00
Other Expenses and Losses
Interest Expense	25,000.00	26,500.00	27,500.00	27,250.00	24,500.00
Unrealized Loss - Trading Securities	2,500.00	2,650.00	2,750.00	2,725.00	2,450.00
Realized Loss - Investment Securities	33,230.00	35,223.80	36,553.00	36,220.70	32,565.40
Total Other Expenses and Losses	60,730.00	64,373.80	66,803.00	66,195.70	59,515.40


Net Income (Loss)	222,543.00	184,120.46	(99,718.70)	179,925.43	146,053.21

Common Dividends	200,000	250,000	300,000	300,000
Weighted Average Common Shares	50,000	50,000	50,000	50,000
Market Price per Common Share	46.00	41.00	31.00	42.00

Panther Marine
Balance Sheet
June 30, 2017, 2016, 2015, 2014, 2013
	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30
ASSETS
Current assets
Cash	384,504.00	407,574.24	392,194.08	419,109.36	376,813.92
Accounts Receivable	555,666.00	589,005.96	566,779.32	605,675.94	544,552.68
Allowance for Doubtful Accounts	(22,580.00)	(23,934.80)	(19,588.80)	(24,612.20)	(22,128.40)
Merchandise Inventory	456,897.00	484,310.82	466,034.94	498,017.73	447,759.06
Estimated Returns Inventory	32,500.00	34,450.00	33,150.00	35,425.00	31,850.00
Office Supplies	5,689.00	6,030.34	5,802.78	6,201.01	5,575.22
Prepaid Insurance	15,400.00	16,324.00	15,708.00	16,786.00	15,092.00
Total Current Assets	1,428,076.00	1,513,760.56	1,460,080.32	1,556,602.84	1,399,514.48
Property, plant & equipment
Land	1,500,000.00	1,500,000.00	1,500,000.00	1,500,000.00	1,500,000.00
Building	1,200,000.00	1,200,000.00	1,200,000.00	1,200,000.00	1,200,000.00
Accumulated Depreciation - Building	(750,000.00)	(720,000.00)	(690,000.00)	(660,000.00)	(630,000.00)
Equipment	85,000.00	80,000.00	80,000.00	80,000.00	75,000.00
Accumulated Depreciation - Equipment	(68,000.00)	(59,500.00)	(51,000.00)	(42,500.00)	(34,000.00)
Office Furniture	14,000.00	14,000.00	14,000.00	14,000.00	14,000.00
Accumulated Depreciation - Office Furniture	(12,000.00)	(10,000.00)	(8,000.00)	(6,000.00)	(4,000.00)
Total Property, plant & equipment	1,969,000.00	2,004,500.00	2,045,000.00	2,085,500.00	2,121,000.00
Other Assets
Investments - Trading	80,000.00	84,800.00	81,600.00	87,200.00	78,400.00
Investments - Available for Sale	35,400.00	37,524.00	36,108.00	38,586.00	34,692.00
Investments - Held to Maturity	80,000.00	84,800.00	81,600.00	87,200.00	78,400.00
Valuation Allowance	52,000.00	55,120.00	53,040.00	56,680.00	50,960.00
Total Other Assets	247,400.00	262,244.00	252,348.00	269,666.00	242,452.00
Total Assets	3,644,476.00	3,780,504.56	3,757,428.32	3,911,768.84	3,762,966.48

LIABILITIES & STOCKHOLDER'S EQUITY
LIABILITIES
Current Liabilities
Accounts Payable	680,980.00	721,838.80	694,599.60	168,900.00	170,000.00
Unearned Rent	10,000.00	10,600.00	10,200.00	10,900.00	9,800.00
Customer Refunds Payable	18,795.00	19,922.70	19,170.90	20,486.55	18,419.10
Total Current Liabilities	709,775.00	752,361.50	723,970.50	200,286.55	198,219.10
Long-term Liabilities
Notes Payable	650,000.00	689,000.00	663,000.00	708,500.00	637,000.00
Bonds Payable	1,300,000.00	1,378,000.00	1,000,000.00	1,417,000.00	1,274,000.00
Premium on Bonds Payable	56,000.00	50,000.00	35,000.00	55,000.00	45,000.00
Discount on Bonds Payable	(16,000.00)	(10,000.00)	(10,000.00)	(12,000.00)	(15,000.00)
Mortgage (Warehouse) Payable	300,000.00	318,000.00	950,000.00	920,000.00	1,000,000.00
Total Long-term Liabilities	2,290,000.00	2,425,000.00	2,638,000.00	3,088,500.00	2,941,000.00
Total Liabilities	2,999,775.00	3,177,361.50	3,361,970.50	3,288,786.55	3,139,219.10

STOCKHOLDER'S EQUITY
Common Stock, $2 Par, 100,000 Authorized; 50,000 shares Issued/Outstanding	100,000.00	100,000.00	100,000.00	100,000.00	100,000.00
Paid In Capital - Excess of Par	350,000.00	371,000.00	357,000.00	381,500.00	343,000.00
Treasury Stock	(50,000.00)	(60,000.00)	(20,000.00)	(20,000.00)	(10,000.00)
Cash Dividends	(200,000.00)	(250,000.00)	(300,000.00)	(300,000.00)	(250,000.00)
Ending Retained Earnings	444,701.00	442,143.06	258,457.82	461,482.29	440,747.38
Total Stockholder's Equity	644,701.00	603,143.06	395,457.82	622,982.29	623,747.38

Total Liabilities and Stockholder's Equity	3,644,476.00	3,780,504.56	3,757,428.32	3,911,768.84	3,762,966.48


TOTAL ASSETS	3,644,476.00	3780504.56	3757428.32	3911768.84	3762966.48
TOTAL LIAB & EQUITY	3,644,476.00	3780504.56	3757428.32	3911768.84	3762966.48
VARIANCE	0	0	0	0	0

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