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

  
 
 

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Ratio Analysis Joshua & White Technologies: December 31 Balance Sheets (Thousands of Dollars) Assets Cash Short-term investments Accounts receivable Inventories Total current assets Net fixed assets Total assets Liabilities & Equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained eamings Total common equity Total liabilities & equity 2021 $18,900 4,151 53,500 79,000 $155,551 214,837 $370,388 $34,650 12,075 19,322 $66,047 69,056 $135,103 160,000 75,285 $235,285 $370,388 2020 $18,000 3,040 47,500 57,000 $125,540 190,000 $315,540 $33,000 11,500 7,000 $51,500 58,380 $109,880 160,000 45,660 $205,660 $315,540 Ratio Analysis Joshua & White Technologies: December 31 Balance Sheets (Thousands of Dollars) Assets Cash Short-term investments Accounts receivable Inventories Total current assets Net fixed assets Total assets Liabilities & Equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained eamings Total common equity Total liabilities & equity 2021 $18,900 4,151 53,500 79,000 $155,551 214,837 $370,388 $34,650 12,075 19,322 $66,047 69,056 $135,103 160,000 75,285 $235,285 $370,388 2020 $18,000 3,040 47,500 57,000 $125,540 190,000 $315,540 $33,000 11,500 7,000 $51,500 58,380 $109,880 160,000 45,660 $205,660 $315,540

Answer rating: 100% (QA)

Answer i We have to do a financial statement analysis of Joshua and White The following table includes the Formula for all the ratios asked in the question Based on the below table we will calculate t... View the full answer