SIEVERT CORPORATIONBalance Sheets December 31Assets 2012 2011Cash $ 28,000 $ 20,000Receivables (net) 70,000 62,000Other current assets 90,000 73,000Long-term investments 62,000 60,000Plant and equipment (net) 510,000 470,000Total assets $760,000 $685,000Liabilities and Stockholders EquityCurrent liabilities $ 75,000 $ 70,000Long-term debt 80,000 90,000Common stock 330,000 300,000Retained earnings 275,000 225,000Total liabilities and stockholders equity $760,000 $685,000SIEVERT CORPORATIONIncome StatementsFor the Years Ended December 312010 2011Sales $750,000 $680,000Cost of goods sold 440,000 400,000Operating expenses (including income taxes) 240,000 220,000Net income $ 70,000 $ 60,000Additional information:Cash from operating activities $82,000 $56,000Cash used for capital expenditures $45,000 $38,000Dividends paid $20,000 $15,000Average number of shares outstanding 33,000 30,000InstructionsCompute these 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 infinancial position and operating results from 2011 to 2012 of Sievert Corporation
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