Please complete the following: -Horizontal and vertical analysis of the Income S

Question

Please complete the following:

-Horizontal and vertical analysis of the Income Statements for the past three years (all yearly balances set as a percentage of total revenues for that year).

-Horizontal and vertical analysis of the Balance Sheets for the past three years (all yearly balances set as a percentage of total assets for that year).

-Ratio analysis (eight ratios of your choosing) for the past three years PLUS a measurement for the creditworthiness of your firm as measured by Altman’s Z-score.

Income Statement: Period Ending 31-Dec-14 31-Dec-13 31-Dec-12 Total Revenue 194,673,000 182,150,000 162,463,000 Cost of Revenue 38,585,000 33,595,000 32,920,000 Gross Profit 156,088,000 148,555,000 129,543,000      Operating Expenses      Research Development -   -   -        Selling General and Administrative 13,721,000 13,282,000 11,870,000      Non Recurring -   -   -        Others 111,009,000 103,676,000 92,693,000      Total Operating Expenses -   -   -   Operating Income or Loss 31,358,000 31,597,000 24,980,000      Income from Continuing Operations      Total Other Income/Expenses Net -   -   -        Earnings Before Interest And Taxes 31,358,000 31,597,000 24,980,000      Interest Expense 3,253,000 2,801,000 2,744,000      Income Before Tax 28,105,000 28,796,000 22,236,000      Income Tax Expense 7,935,000 8,951,000 6,924,000      Minority Interest -298,000 -369,000 -488,000      Net Income From Continuing Ops 20,170,000 19,845,000 15,312,000      Non-recurring Events      Discontinued Operations -   -   -        Extraordinary Items -   -   -        Effect Of Accounting Changes -   -   -        Other Items -   -   -   Net Income 19,872,000 19,476,000 14,824,000 Preferred Stock And Other Adjustments -   -   -   Net Income Applicable To Common Shares 19,872,000 19,476,000 14,824,000 Balance Sheet: Period Ending 31-Dec-14 31-Dec-13 31-Dec-12 Assets Current Assets      Cash And Cash Equivalents 63,269,000 48,186,000 46,992,000      Short Term Investments -   -   -        Net Receivables 34,418,000 33,106,000 34,562,000      Inventory 10,236,000 9,860,000 9,675,000      Other Current Assets -   -   -   Total Current Assets -   -   -   Long Term Investments 18,937,000 19,234,000 6,314,000 Property Plant and Equipment 137,244,000 123,805,000 106,872,000 Goodwill 60,714,000 57,011,000 54,523,000 Intangible Assets -   -   -   Accumulated Amortization -   -   -   Other Assets 58,442,000 49,480,000 44,725,000 Deferred Long Term Asset Charges -   -   -   Total Assets 526,186,000 484,931,000 427,452,000 Liabilities Current Liabilities      Accounts Payable 40,223,000 37,835,000 35,361,000      Short/Current Long Term Debt -   -   -        Other Current Liabilities -   -   -   Total Current Liabilities -   -   -   Long Term Debt 80,209,000 72,224,000 62,736,000 Other Liabilities 101,492,000 92,648,000 93,273,000 Deferred Long Term Liability Charges 61,235,000 57,739,000 44,494,000 Minority Interest 2,857,000 2,595,000 3,941,000 Negative Goodwill -   -   -   Total Liabilities 286,016,000 263,041,000 239,805,000 Stockholders' Equity Misc Stocks Options Warrants -   -   -   Redeemable Preferred Stock -   -   -   Preferred Stock -   -   -   Common Stock 8,000 8,000 8,000 Retained Earnings 163,620,000 143,748,000 124,272,000 Treasury Stock -1,763,000 -1,363,000 -1,363,000 Capital Surplus 35,573,000 35,472,000 37,230,000 Other Stockholder Equity 42,732,000 44,025,000 27,500,000 Total Stockholder Equity 240,170,000 221,890,000 187,647,000 Net Tangible Assets 179,456,000 164,879,000 133,124,000

Explanation / Answer

38,585,000

19.82%

33,595,000

18.44%

32,920,000

20.26%

156,088,000 80%

Vertical Analysis of Balance Sheet

Income Statement: Vertical Analysis Period Ending 31-Dec-14 31-Dec-13 31-Dec-12 Total Revenue 194,673,000 100% 182,150,000 100% 162,463,000 100% Cost of Revenue

38,585,000

19.82%

33,595,000

18.44%

32,920,000

20.26%

Gross Profit

156,088,000 80%

148,555,000 8 81.55% 129,543,000 79.73%      Operating Expenses      Research Development -   -   -        Selling General and Administrative 13,721,000 7% 13,282,000 7.29% 11,870,000 7.3%         Non Recurring -   -   -        Others 111,009,000 57% 103,676,000 56.91% 92,693,000 57.05%      Total Operating Expenses -   -   -   Operating Income or Loss 31,358,000 16% 31,597,000 17.34% 24,980,000 15.37%      Income from Continuing Operations      Total Other Income/Expenses Net -   -   -        Earnings Before Interest And Taxes 31,358,000 16% 31,597,000 17.34% 24,980,000 15.37%      Interest Expense 3,253,000 2% 2,801,000 1.53% 2,744,000 1.68%      Income Before Tax 28,105,000 14% 28,796,000 15.80% 22,236,000 13.68%      Income Tax Expense 7,935,000 4% 8,951,000 4.91% 6,924,000 4.24%      Minority Interest -298,000 -369,000 -488,000      Net Income From Continuing Ops 20,170,000 10% 19,845,000 10.89% 15,312,000 9.42%      Non-recurring Events      Discontinued Operations -   -   -        Extraordinary Items -   -   -        Effect Of Accounting Changes -   -   -        Other Items -   -   -   Net Income 19,872,000 10% 19,476,000 10.69% 14,824,000 9.12% Preferred Stock And Other Adjustments -   -   -   Net Income Applicable To Common Shares 19,872,000 10% 19,476,000 10.69% 14,824,000 9.12%

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