• The 2020 financial statements for Dartmouth, Inc. are shown below:

Dartmouth, Inc. Income Statement For the year ended May 31, 2020
Net Sales Revenue	$69,600
Cost of Goods Sold	48,900
Gross Profit	20,700
Selling  and Administrative	15,600
Operating Income	5,100
Interest Expense	1,000
Income Before Tax	4,100
Income Tax Expense	1,200
Net Income	$ 2,900

Dartmouth, Inc. Balance Sheet May 31, 2020
ASSETS
Current Assets
Cash	$  2,500
Accounts Receivable, net	5,100
Inventory	8,300
Total Current Assets	15,900
Property Plant and Equipment, net	21,500
Total Assets	$37,400
LIABILITIES & STOCKHOLDERS’ EQUITIES
Current Liabilities
Accounts Payable	$11,000
Short Term Debt	1,200
Total Current Liabilities	12,200
Long Term Debt	13,800
Total Liabilities	$26,000
Stockholders' Equity
Common Stock	$  1,000
Additional Paid-In Capital	4,000
Retained Earnings	6,400
Total Stockholder Equity	$11,400
Total Liabilities and SH Equities	$37,400

• All goods are sold on credit
• Dartmouth’s receivables, payables, and inventory ending balances did not change from 2019 to 2020
• Dartmouth has 10,000 shares of its $0.10 par common stock issued and outstanding.  The current market price is $10 per share.
• Dartmouth’s current ratio =
• What does this tell you about the firm?
• Dartmouth’s working capital =

What does this tell you about the firm?

• Dartmouth’s debt-to-equity ratio =

What does this tell you about the firm?

• Dartmouth’s receivables turnover ratio =

Dartmouth’s days receivables =

What does this tell you about the firm?

• Dartmouth’s inventory turnover ratio =

Dartmouth’s days inventory =

What does this tell you about the firm?

• Dartmouth’s A/P turnover ratio =

Dartmouth’s days payables =

What does this tell you about the firm?

• Compute Altman’s Z-score for Dartmouth.

What does this suggest about the firm?

• What other types of information would help you to analyze Dartmouth’s current performance and predict its future performance?