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Extracted text: LAKELAND CORPORATION LAKELAND CORPORATION Balance Sheet Statement of Income and Retained Earnings December 31, Year 5 and Year 4 For Years Ended December 31, Year 5 and Year 4 Year 5 Year 4 Year 5 Year 4 Assets Current assets Revenues $ 1,610,000 510,000 $ 1,387,000 Cash Net sales $48,400,000 70,000 30,000 $41,700,000 Marketable securities Accounts receivable, less allowance for bad debts Year 5, $125,000; Year 4, $110,000 Inventories, at lower of cost or market Royalties. 25,000 4,075,000 Interest 7,250,000 125,000 3,669,000 7,050,000 218,000 Prepaid expenses Total revenues $48,500,000 $41,725,000 Costs and expenses Cost of sales.. Total current assets 13,570,000 12,324,000 Plant and equipment, at cost Land and buildings.. Machinery and equipment. $31,460,000 $29,190,000 8,785,000 13,500,000 13,500,000 Selling, general, and administrative Interest on 5% sinking fund debentures Provision for federal income taxes 12,090,000 9,250,000 8,520,000 275,000 300,000 Total plant and equipment Less: Accumulated depreciation 22,750,000 13,470,000 22,020,000 12,549,000 2,315,000 1,695,000 Total costs and expenses $46,140,000 $39,970,000 Total plant and equipment-net Long-term receivables Deferred charges .. 9,280,000 250,000 25,000 9,471,000 250,000 75,000 Net income $ 2,360,000 $ 1,755,000 Total assets $23,125,000 $2,120,000 Retained earnings, beginning of year 7,965,000 6,760,000 $ 8,515,000 Subtotal Dividends paid Preferred stock, $1.00 per share in cash Common stock $10,325,000 Liabilities and Shareholders' Equity Current liabilities 50,000 50,000 $ 3,426,000 1,644,000 750,000 500,000 $ 2,950,000 1,575,000 Accounts payable Accrued expenses Federal taxes payable Current maturities on long-term debt Cash $1.00 per share Stock(10%)-50,000 shares at market value of $50 per share 875,000 500,000 525,000 500,000 Total current liabilities Other liabilities 5,900,000 6,320,000 2,500,000 $ 3,075,000 $ 550,000 $ 7,965,000 Total dividends paid . 5% sinking fund debentures, due January 1, Year 16 ($500,000 redeemable annually Deferred taxes on income, due to depreciation 5,000,000 350,000 5,500,000 Retained earnings, end of year $ 7,250,000 210,000 Total other liabilities . 5,350,000 5,710,000 Shareholders' equity Preferred stock, $1 cumulative, $20 pat, preference on liquidation $100 per share (authorized: 100,000 shares; issued and outstanding: 50,000 shares) Common stock, $1 par (authorized: 900,000 shares; issued and outstanding: Year 5, 550,000 shares; Year 4, 500,000 shares) 1,000,000 1,000,000 550,000 500,000 Capital in excess of par value on common stock Retained eamings.. Total shareholders' equity 3,075,000 7,250,000 625,000 7,965,000 11,875,000 10,090,000 Total liabilities and shareholders' equity $23,125,000 $2,120,000
Extracted text: 2. Ratio Analysis for Year 4 and 5: • Net Profit Margin. (Hint: Total Revenues includes other revenues) • Current Ratio and Quick Ratio • Debt to Equity Ratio