Using the trial balances or comparative financial statements you need to calculate a variety of ratios. You will find the requried rations in the worksheet labeled "Ratios Historical". Complete all the required ratios.

Ratio Analysis
June 30, 2017, 2016, 2015
Instructions: Calculate each of the below ratios for ONLY 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
	6/30/17		6/30/16		6/30/15		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		2	1.41		1.41		1.62
Cash
A/R (Net)
Short Term Investments
Current Liabilities
Accounts Receivable Turnover		3	7.62		7.82		10.00
Net Credit Sales
Beg A/R (Net)
End A/R (Net)
Avg. A/R
Inventory Turnover		4	2.97		3.27		2.50
CGS
Beg. Inventory
Ending Inventory
Avg. Inventory
Profitability
Profit Margin		5	4.34%		-2.26%		3.5%
Net Income
Net Sales
Asset Turnover		6	1.12		1.15		1.02
Net Sales
Beginning Assets
Ending Assets
Average Assets
Return on Assets		7	4.89%		-2.60%		10.50%
Net Income
Avg. Assets
Return on Common Shareholders' Equity		8	36.88%		-19.58%		18.30%
Net Income
Preferred Dividends
Beginning Common Equity
Ending Common Equity
Avg. Common Shareholders' Equity
Earnings per Share (EPS)		9	$3.68		$(1.99)		$3.05
Net Income
Preferred Dividends
Weighted Avg. Common Shares Outstanding
Price-Earnings (P/E ) Ratio		10	11.13		(15.54)		12.54
Market Price per Share of Stock
Earnings per Share
Dividends per Share		11	$5.00		$6.00		$2.00
Dividends on Common Stock
Shares of Common Stock Outstanding
Solvency Ratios
Ratio of Fixed Assets to Long-Term Liabilities		12	0.83		0.78		0.80
Fixed Assets (net)
Long-Term Liabilities
	6/30/17		6/30/16		6/30/15
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
		Adjusted			Comparative Income Statement			Balance Sheet
		Trial Balance			June 30 2017			June 30 2017
Acct. No.	Account Title	Dr.	Cr.
100	Cash	384,504.00			Sales Revenue			ASSETS
102	Accounts Receivable	555,666.00			Net Credit Sales	4156800		Current assets
103	Allowance for Doubtful Accounts		22,580.00		Cost of Goods Sold	1385698		Cash	384504
104	Merchandise Inventory	456,897.00			Gross Profit	2771102		Accounts Receivable	555666
105	Estimated Returns Inventory	32,500.00			Operating Expenses			Allowance for Doubtful Accounts	-22580
106	Office Supplies	5,689.00			Wage Expense (hourly workers)	756894		Merchandise Inventory	456897
107	Prepaid Insurance	15,400.00			Salaries Expense (Exempt Staff)	800000		Estimated Returns Inventory	32500
120	Investments - Trading	80,000.00			Marketing Expense	295000		Office Supplies	5689
121	Investments - Available for Sale	35,400.00			Travel and Entertainment Expense	56789		Prepaid Insurance	15400
122	Investments - Held to Maturity	80,000.00			Bad Debt Expense	42185		Total Current Assets	1428076
123	Valuation Allowance	52,000.00			Property Tax Expense	500000		Property, plant & equipment
140	Land	1,500,000.00			Office Maintenance & Repair Expense	2000		Land	1500000
145	Building	1,200,000.00			Accounting Expenses	10000		Building	1200000
146	Accumulated Depreciation - Building		750,000.00		Insurance Expense	12000		Accumulated Depreciation - Building	-750000
151	Equipment	85,000.00			Utilities Expense	65450		Equipment	85000
152	Accumulated Depreciation - Equipment		68,000.00		Office Supplies Expense	546		Accumulated Depreciation - Equipment	-68000
153	Office Furniture	14,000.00			Telecommunications Expense	5425		Office Furniture	14000
154	Accumulated Depreciation - Office Furniture		12,000.00		Depreciation Expense - Building	30000		Accumulated Depreciation - Office Furniture	-12000
201	Accounts Payable		680,980.00		Depreciation Expense - Equipment	8500		Total Property, plant & equipment	1969000
202	Wages Payable		-		Depreciation Expense - Office Furniture	2000		Other Assets
203	Interest Payable		-		Total Operating Expenses	2586789		Investments - Trading	80000
204	Dividends Payable		-		Income from Operations	184313		Investments - Available for Sale	35400
205	Unearned Rent		10,000.00		Other Revenues and Gains			Investments - Held to Maturity	80000
206	Customer Refunds Payable		18,795.00		Rent Income	8000		Valuation Allowance	52000
250	Notes Payable		650,000.00		Unrealized Gain - Trading Securities	5500		Total Other Assets	247400
251	Bonds Payable		1,300,000.00		Realized Gain - Investment Securities	85460		Total Assets	3644476
252	Premium on Bonds Payable		56,000.00		Total Other Revenue and Gains	98960
253	Discount on Bonds Payable	16,000.00			Other Expenses and Losses			LIABILITIES & STOCKHOLDER'S EQUITY
252	Mortgage (Warehouse) Payable		300,000.00		Interest Expense	25000		LIABILITIES
300	Common Stock, $2 Par, 100,000 Authorized; 50,000 shares Issued/Outstanding		100,000.00		Unrealized Loss - Trading Securities	2500		Current Liabilities
301	Paid In Capital - Excess of Par		350,000.00		Realized Loss - Investment Securities	33230		Accounts Payable	680980
330	Retained Earnings		222,158.00		Total Other Expenses and Losses	60730		Unearned Rent	10000
331	Cash Dividends	200,000.00						Customer Refunds Payable	18795
340	Treasury Stock	50,000.00						Total Current Liabilities	709775
341	Unrealized (Gain) Loss Available for Sale Securities	-	-		Net Income (Loss)	222543		Long-term Liabilities
500	Sales		4,156,800.00					Notes Payable	650000
600	Cost of Goods Sold	1,385,698.00			Common Dividends	200000		Bonds Payable	1300000
700	Wage Expense (hourly workers)	756,894.00			Weighted Average Common Shares	50000		Premium on Bonds Payable	56000
701	Salaries Expense (Exempt Staff)	800,000.00			Market Price per Common Share	46		Discount on Bonds Payable	-16000
702	Marketing Expense	295,000.00						Mortgage (Warehouse) Payable	300000
703	Travel and Entertainment Expense	56,789.00						Total Long-term Liabilities	2290000
704	Bad Debt Expense	42,185.00						Total Liabilities	2999775
705	Property Tax Expense	500,000.00
706	Office Maintenance & Repair Expense	2,000.00						STOCKHOLDER'S EQUITY
707	Accounting Expenses	10,000.00						Common Stock, $2 Par, 100,000 Authorized; 50,000 shares Issued/Outstanding	100000
708	Insurance Expense	12,000.00						Paid In Capital - Excess of Par	350000
709	Utilities Expense	65,450.00						Treasury Stock	-50000
710	Office Supplies Expense	546.00						Cash Dividends	-200000
711	Telecommunications Expense	5,425.00						Ending Retained Earnings	444701
712	Depreciation Expense - Building	30,000.00						Total Stockholder's Equity	644701
713	Depreciation Expense - Equipment	8,500.00
714	Depreciation Expense - Office Furniture	2,000.00						Total Liabilities and Stockholder's Equity	3644476
800	Rent Income		8,000.00
801	Unrealized Gain - Trading Securities		5,500.00
802	Realized Gain - Investment Securities		85,460.00					TOTAL ASSETS	3644476
900	Interest Expense	25,000.00						TOTAL LIAB & EQUITY	3644476
901	Unrealized Loss - Trading Securities	2,500.00						VARIANCE	0
902	Realized Loss - Investment Securities	33,230.00
	Total	8,796,273.00	8,796,273.00
	Total Expenses and Revenue	4,033,217.00	4,255,760.00
	Net Income (Loss)	222,543.00