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Condensed balance sheet and income statement data for Fellenz Corporation are presented below.
FELLENZ CORPORATION Balance Sheets December 31
Assets
2012
2011
Cash
$ 40,000
$ 24,000
Receivables (net)
90,000
55,000
Other current assets
74,000
73,000
Long-term investments
78,000
60,000
Plant and equipment (net)
520,000
407,000
Total assets
$802,000
$619,000
Liabilities and Stockholders" Equity
Current liabilities
$ 88,000
$ 65,000
Long-term debt
70,000
Common stock
370,000
320,000
Retained earnings
254,000
164,000
Total liabilities and stockholders" equity
FELLENZ CORPORATION Income Statements For the Years Ended December 31
Sales
$770,000
$800,000
Cost of goods sold
420,000
400,000
Operating expenses (including income taxes)
200,000
237,000
Net income
$150,000
$163,000
Cash from operating activities
$165,000
$178,000
Cash used for capital expenditures
85,000
45,000
Dividends paid
50,000
43,000
Average number of shares outstanding
Instructions
Compute the following values and ratios for 2011 and 2012.
(a) Earnings per share.
(b) Working capital.
(c) Current ratio.
(d) Debt to total assets ratio.
(e) Free cash flow.
(f ) Based on the ratios calculated, discuss briefly the improvement or lack thereof in the financial position and operating results of Fellenz from 2011 to 2012.
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