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Vapor Trails -

Calculate the following Ratios for 2013

A. Market to Book Ratio

B. Debt to Equity

C. Days in Inventory

D. Cash Coverage Ratio

E. Return on Assets

Vapor Trails Income Statement 2013 Vapor Trails Balance Sheet $18,750,000 2 Sales 2013 2013 $15,375,000 $970,000 $840,000 AP $790,000 $610,000 3 COGS Cas $625,000 $595,000 Accruals $1,100,000 $216,000 $195,000 4 Depr $2,275,000 $1,650,000 $1,390,000 Notes Pay $600,000 $400,000 5 EBIT Inventory $8,320,000 $8,100,000 LT Debt $120,000 $3,200,000 $3,200,000 6 Interest Net Fixed Assets $2,155,000 $500,000 $500,000 7 EBT Preferred Equity $797,350 Common Equity $6,259,000 $6,020,000 8 T axes $1,357,650 9 Net Income $11,565,000 $10,925,000 otal Debt & Equity $5,306,000 $4,905,000 10 Total Assets 11 12 Information about Vapor Trails Securities Preferred Stock 13 Bonds 14 3,200 5.40% Cpn due /2036 Priced a 102.365 Shares outstanding $96.48 15 5,400 4.20% Cpn Due 10/1/2041 Priced 99.856 Current Price 16 5.20% Coupon Rate 17 Common Equ 18 Shares Outstanding 216,000 Other Market Data $72.15 19 Current Price Tax rate 37.00% $1.70 20 Expected Dividend next yr Risk Free Rate of Return 1.00% 21 Expected Dividend Growth 13.80% For lyr Expected Market Return 11.60% 12.10% for 2yrs Beta Vapor Trails 22 0.87 10.90% for 1yr 23 ROE 16.109% 9.10% for lyr Plowback 24 52.00% WACC 25 26 Par Amount Pmt PV FV Nper Value Wt Rate Bonds 27 28 29 Pfd's. 30 31 32 Common Stock 33