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Happy Hamburger Company
Using the financial statements for Happy Hamburger Company below:
1. Calculate the indicated ratios for Happy Hamburger.
2. Discuss Happy Hamburger's strengths and weaknesses as revealed by your analysis.
3. Suppose Happy Hamburger doubles its sales as well as its inventories, accounts receivable, and common equity during the year. How would that information affect the validity of your ratio analysis?
Income Statement for the year ending December 31, 20XX
Sales
1,607,500
Cost of goods sold
1,392,500
Selling, general and administrative expenses
145,000
Earnings before interest and taxes (EBIT)
70,000
Interest expense
24,500
Earnings before taxes (EBT)
45,500
Federal and state income taxes (40%)
18,200
Net Income
27,300
Balance Sheet as of December 31, 20XX
Assets
Liabilities and Shareholder Equity
Cash
80,500
Accounts payable
132,000
Accounts Receivable
334,500
Current portion of debt
84,000
Inventories
240,500
Other current liabilities
114,000
Total current assets
655,000
Total current liabilities
330,000
Net fixed assets
292,500
Long-term debt
256,500
Total assets
947,500
Total Liabilities
586,500
Common equity
361,000
Total Liabilities & Equity
Happy
Industry
Hamburger
Average
Current ratio
2.2
Days sales outstanding (based on 365 day year)
36 days
Inventory turnover
6.7
Fixed asset turnover
12.1
Total asset turnover
3.00
Return on sales
1.20%
Return on assets
3.60%
Return on equity
9.00%
Debt ratio
55%
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