Assignment: Perform Financial analysis of the financial statements using the horizontal and vertical methods
Rand’s Disk Storage, Inc.
Balance Sheet
20102009
ASSETS
Current Assets
Cash$16,329$23,244
Accounts Rec, net of allowance of $736 and $75239,76616,041
Inventories45,10622,501
Other current Assets936239
Total current Assets102,13762,025
Property and Equipment, net33,60619,588
Other Assets1,134253
TOTAL ASSETS$136,877$81,866
LIABILITITES AND EQUITY
Current Liabilites
Accounts Payable$37,160$12,228
Current Portion of LT Debt9461,745
Accrued Compensation & Related Expenses2,8241,740
Accrued Warranty Expense1,3732,085
Other Current Liabilities4,3833,275
Total Current Liabilities46,68621,073
Long-Term Debt23,87720,771
Stockholders Equity66,31440,022
TOTAL LIABILITIES & EQUITY$136,877$81,866
Rand’s Disk Storage, Inc.
Income Statement20102009
Net Sales$184,861$113,951
Cost of Sales$137,936111,445
Gross Margin46,9252,506
Selling, General & Administrative14,45912,217
Research & Development8,5554,204
Total Operating Expenses23,01416,421
Income (loss) from Operations23,911-13,915
Other Income1,291708
Other Expenses-2142-3,174
Income (Loss) before Income Taxes23,060-16,381
Provision for Income Taxes2,779392
Net Income$20,281($16,773)