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AMERBRAN COMPANY

Income Statement
For the Year Ended Dec 31, 20X0 & 20X1
(in thousands)
20X0 20X1
Sales Revenue, net 6,577,480 7,622,677
Cost of Sales 2,573,350 2,803,623
Excise Taxes on Goods Sold 2,354,350 2,887,616
Gross Margin 1,649,780 1,931,438
Selling, General, and Administrative Expenses 974,121 1,328,107
Income before Income Taxes 675,659 603,331
Provision for Income Taxes 296,877 274,558
Net Income 378,782 328,773

20X0 20X1
Interest Expense 105,165 102,791
Depreciation & Amortization 115,974 +
Loss on Write off of obsolete equipment 66,046 +
Investment income 59,610
Deferred income taxes 17,548
Purchase of PPE 260,075
Cash proceed from sale of FA 33,162
Additional FA from business acquisition 31,691
Goodwill 102,030
Cash dividend paid 216,158
Shares dividend (100%) at par
Purchase T/S 30,609
Increase in LT Borrowings 34,606

785,351
6,837,326
6,777,716
AMERBRAN COMPANY
Balance Sheets
As of December 31, 20X0 & 20X1
(in Thousands)
20X0 20X1
Assets
Cash 23,952 28,912
Accounts Receivable 687,325 756,152
Inventories 1,225,402 1,244,912
Prepaid Expenses 77,167 76,140
Total Current Assets 2,013,846 2,106,116
Investments 1,058,637 1,116,534

PPE, at cost 1,366,719 1,566,268


Less Accum. Deprc. (645,734) (723,442)
PPE, net 720,985 842,826
Goodwill 577,606 645,210
Other Assets 62,374 115,826
Total Assets 4,433,448 4,826,512

Liabilities & Shareholders' Equity


Accounts Payable 238,377 271,452
Short-term Debt 351,112 430,776
Accrued Expenses Payable 728,262 922,990
Total Current Liabilities 1,317,751 1,625,218
Long Term Liabilities 932,828 880,674
Total Liabilities 2,250,579 2,505,892

Convertible Preferred Stock 42,611 33,828


Additional PIC 57,072 53,641
Treasury Stock, at cost (102,705) (110,948)
Retained Earnings 2,024,474 2,021,265
Total Shareholders' Equity 2,182,869 2,320,620
Total Liabilities & Shareholders' Equity 4,433,448 4,826,512
Return on Assets 7.10%
Return on Equity 16.30%
Gross Margin % 25%
Return on Sales 4.31%
Asset Turnover 1.65
Days' Cash (Cash/cash expense:365) 1.54
Days' Receivables 36.20
Days' Inventory 160
Inventory Turnover 2.25
Current Ratio 1.295
Acid Test Ratio 0.53
Debt/Capitalization Ratio LT Liab/(LT Liab + Equity) 0.31
Times Interest Earned 6.86

DuPont Analysis ROE NPM NI/NS


TATO NS/TA
TA/TE TA/TE