The financial statements of Zach industries for the year ended December 31, 2015 are:
Zach Industries Income Statement:
for the Year Ended December, 31, 2012
Sales revenue $160,100
Less: Cost of goods sold 105,500
Gross profits $54,600
Less: Operating expenses
Selling espense $16,500
General and administrative expenses 10,400
Lease expense 1,040
Depreciation expense 9,600
Total operating expense $37,540
Operating profits $17,060
Less: Interest expense 5,900
Net profits before taxes $11,160
Less: Taxes 4,400
Net profits after taxes $6,760
a. Use the financial statements to complete the following table for 2015. Assume the industry averages given in the table are applicable for 2014 and 2015.
Ratio Industry average Actual 2014 Actual 2015 (?)
Current ratio 1.81 1.85
Quick ratio 0.71 0.79
Inventory turnover* 2.50 2.59
Average collection period* 38.6 days 37.6 days
Debt ratio 64.5% 66.5%
Times interest earned ratio 3.9 4.1
Gross profit margin 38% 40%
Net profit margin 3.6% 3.7%
Return on total assets 4.1% 4.1%
Return on common equtiy 9.7% 8.2%
Market/book ratio 1.7 1.8
b. Analyze Zach industries’ financial condition as it is related to (1) liquitidy (2) activity (3) debt (4) profitability, and (5) market. Summarize the company’s overall financial condition.Get Finance homework help today
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