{"text_format":"3","workbook":"xls","n_sheets":16,"sheets":["Ratio Analysis","Sheet2","Sheet3","Sheet4","Sheet5","Sheet6","Sheet7","Sheet8","Sheet9","Sheet10","Sheet11","Sheet12","Sheet13","Sheet14","Sheet15","Sheet16"],"read":"whole","date_system":"1900","formulas":"cached_only"}

{"sheet":"Ratio Analysis","index":0,"n_rows":129,"n_cols":7,"rows_kept":129,"flags":["formulas_cached_only"]}
["                      FINANCIAL ANALYSIS MODEL"]
["            Note:  Enter data in Blue-coded cells; Black cells are computer generated"]
["ANALYST'S NAME","Dr. Glenn L. Stevens"]
["NAME OF COMPANY","Sample Firm"]
[]
["FIRST CALENDAR YEAR OF DATA",1996]
[]
["NUMBER OF YEARS OF DATA",3]
[]
[]
[]
["INCOME STATEMENT",1996,1997,1998," "," "]
["Sales Revenue",{"v":1500,"d":"$1,500"},{"v":1550,"d":"$1,550"},{"v":1700,"d":"$1,700"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Less:  Cost of Goods Sold",{"v":1000,"d":"$1,000"},{"v":1030,"d":"$1,030"},{"v":1040,"d":"$1,040"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Gross Profits",{"v":500,"d":"$500"},{"v":520,"d":"$520"},{"v":660,"d":"$660"}," "," ","=IF($B$8>4,F13-F14,\" \")"]
["Less: Operating Expenses:"]
["Selling Expense",{"v":140,"d":"$140"},{"v":150,"d":"$150"},{"v":155,"d":"$155"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["General / Admin. Exp.",{"v":260,"d":"$260"},{"v":270,"d":"$270"},{"v":275,"d":"$275"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Lease Expense",{"v":5,"d":"$5"},{"v":0,"d":"$0"},{"v":2,"d":"$2"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Depreciation Expense",{"v":10,"d":"$10"},{"v":11,"d":"$11"},{"v":12,"d":"$12"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Total Operating Expenses",{"v":415,"d":"$415"},{"v":431,"d":"$431"},{"v":444,"d":"$444"}," "," ","=IF($B$8>4,SUM(F17:F20),\" \")"]
["Operating Profits",{"v":85,"d":"$85"},{"v":89,"d":"$89"},{"v":216,"d":"$216"}," "," ","=IF($B$8>4,F15-F21,\" \")"]
["Less: Interest Expense",{"v":23,"d":"$23"},{"v":29,"d":"$29"},{"v":30,"d":"$30"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Net Profits Before Taxes",{"v":62,"d":"$62"},{"v":60,"d":"$60"},{"v":186,"d":"$186"}," "," ","=IF($B$8>4,F22-F23,\" \")"]
["Less: Taxes",{"v":10,"d":"$10"},{"v":12,"d":"$12"},{"v":15,"d":"$15"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Net Profit After Taxes",{"v":52,"d":"$52"},{"v":48,"d":"$48"},{"v":171,"d":"$171"}," "," ","=IF($B$8>4,F24-F25,\" \")"]
["Less: Pref. Stock Divds.",{"v":1,"d":"$1"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Earnings Available for Common Stockholders",{"v":51,"d":"$51"},{"v":48,"d":"$48"},{"v":171,"d":"$171"}," "," ","IF($B$8>4,F26-F27,\" \")"]
[]
[]
["BALANCE SHEET"]
["Current Assets:"]
["Cash",{"v":31,"d":"$31"},{"v":12,"d":"$12"},{"v":18,"d":"$18"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Marketable Securities",{"v":82,"d":"$82"},{"v":66,"d":"$66"},{"v":68,"d":"$68"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Accounts Receivable",{"v":104,"d":"$104"},{"v":152,"d":"$152"},{"v":160,"d":"$160"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Inventories",{"v":145,"d":"$145"},{"v":191,"d":"$191"},{"v":200,"d":"$200"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Total Current Assets",{"v":362,"d":"$362"},{"v":421,"d":"$421"},{"v":446,"d":"$446"}," "," ","=IF($B$8>4,SUM(F33:F36),\" \")"]
["Gross Fixed Assets (at cost):"]
["Land & Buildings",{"v":180,"d":"$180"},{"v":195,"d":"$195"},{"v":200,"d":"$200"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Machinery and Equipment",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Furniture & Fixtures",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Vehicles",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Other (Inc. Fin. Leases)",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Total Gross Fixed Assets",{"v":180,"d":"$180"},{"v":195,"d":"$195"},{"v":200,"d":"$200"}," "," ","=IF($B$8>4,SUM(F39:F43),\" \")"]
["Less:  Accumulated Depreciation",{"v":52,"d":"$52"},{"v":63,"d":"$63"},{"v":65,"d":"$65"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Net Fixed Assets",{"v":128,"d":"$128"},{"v":132,"d":"$132"},{"v":135,"d":"$135"}," "," ","=IF($B$8>4,F44-F45,\" \")"]
["Other Assets",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Total Assets",{"v":490,"d":"$490"},{"v":553,"d":"$553"},{"v":581,"d":"$581"}," "," ","=IF($B$8>4,F37+F46,\" \")"]
[]
["Current Liabilities:",1996,1997,1998," "," ","=IF($B$8>4,F37+F46,\" \")"]
["Accounts Payable",{"v":126,"d":"$126"},{"v":136,"d":"$136"},{"v":150,"d":"$150"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Notes Payable",{"v":190,"d":"$190"},{"v":200,"d":"$200"},{"v":140,"d":"$140"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Accruals",{"v":25,"d":"$25"},{"v":27,"d":"$27"},{"v":28,"d":"$28"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Taxes Payable",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Other Current Liabilities",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Total Current Liabilities",{"v":341,"d":"$341"},{"v":363,"d":"$363"},{"v":318,"d":"$318"}," "," ","=IF($B$8>4,SUM(F51:F55),\" \")"]
["L / T Debt (Inc. Financial Leases)",{"v":40,"d":"$40"},{"v":38,"d":"$38"},{"v":13,"d":"$13"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Total Liabilities",{"v":381,"d":"$381"},{"v":401,"d":"$401"},{"v":331,"d":"$331"}," "," ","=IF($B$8>4,F56+F57,\" \")"]
["Preferred Stock",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Common Stock",{"v":20,"d":"$20"},{"v":20,"d":"$20"},{"v":20,"d":"$20"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Paid-In Capital In Excess of Par",{"v":30,"d":"$30"},{"v":30,"d":"$30"},{"v":30,"d":"$30"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Retained Earnings",{"v":59,"d":"$59"},{"v":102,"d":"$102"},{"v":200,"d":"$200"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}]
["Total Stockholders' Equity",{"v":109,"d":"$109"},{"v":152,"d":"$152"},{"v":250,"d":"$250"}," "," ","=IF($B$8>4,SUM(F59:F62),\" \")"]
["Total Liabs. & Stockhldrs' Equity",{"v":490,"d":"$490"},{"v":553,"d":"$553"},{"v":581,"d":"$581"}," "," ","=IF($B$8>4,F58+F63,\" \")"]
["Reconciliation TA & TL/SE",{"v":0,"d":"$0"},{"v":0,"d":"$0"},{"v":0,"d":"$0"}," "," ","=IF($B$8>4,F64-F48,\" \")"]
["Number of Common Shares",500,500,500,0,0]
["End-of-Year Stock Price",{"v":3,"d":"$3.00"},{"v":5,"d":"$5.00"},{"v":5.5,"d":"$5.50"},{"v":0,"d":"$0.00"},{"v":0,"d":"$0.00"}]
[]
["RATIO ANALYSIS"]
["Current Ratio",{"v":1.06158357771261,"d":"1.06"},{"v":1.159779614325069,"d":"1.16"},{"v":1.4025157232704402,"d":"1.40"}," "," ","=IF($B$8>4,F37/F56,\" \")"]
["Quick Ratio",{"v":0.6363636363636364,"d":"0.64"},{"v":0.6336088154269972,"d":"0.63"},{"v":0.7735849056603774,"d":"0.77"}," "," ","=IF($B$8>4,(F37-F36)/F56,\" \")"]
[]
["Inventory Turnover",{"v":6.896551724137931,"d":"6.90"},{"v":5.392670157068062,"d":"5.39"},{"v":5.2,"d":"5.20"}," "," ","=IF($B$8>4,F14/F36,\" \")"]
["Average Collection Period",{"v":24.959999999999997,"d":"24.96"},{"v":35.303225806451614,"d":"35.30"},{"v":33.88235294117647,"d":"33.88"}," "," ","=IF($B$8>4,F35/(F13/360),\" \")"]
["Fixed Asset Turnover",{"v":11.71875,"d":"11.72"},{"v":11.742424242424242,"d":"11.74"},{"v":12.592592592592593,"d":"12.59"}," "," ","=IF($B$8>4,F13/F46,\" \")"]
["Total Asset Turnover",{"v":3.061224489795918,"d":"3.06"},{"v":2.8028933092224233,"d":"2.80"},{"v":2.9259896729776247,"d":"2.93"}," "," ","=IF($B$8>4,F13/F48,\" \")"]
[]
["Debt Ratio",{"v":0.7775510204081633,"d":"0.78"},{"v":0.7251356238698011,"d":"0.73"},{"v":0.5697074010327022,"d":"0.57"}," "," ","=IF($B$8>4,F58/F48,\" \")"]
["Debt-to-Equity",{"v":0.3669724770642202,"d":"0.37"},0.25,{"v":0.052,"d":"0.05"}," "," ","=IF($B$8>4,F57/F63,\" \")"]
["Times Interest Earned",{"v":3.6956521739130435,"d":"3.70"},{"v":3.0689655172413794,"d":"3.07"},{"v":7.2,"d":"7.20"}," "," ","=IF($B$8>4,F22/F23,\" \")"]
[]
["Gross Profit Margin",{"v":0.3333333333333333,"d":"33.33%"},{"v":0.33548387096774196,"d":"33.55%"},{"v":0.38823529411764707,"d":"38.82%"}," "," ","=IF($B$8>4,F15/F13,\" \")"]
["Operating Profit Margin",{"v":0.056666666666666664,"d":"5.67%"},{"v":0.05741935483870968,"d":"5.74%"},{"v":0.12705882352941175,"d":"12.71%"}," "," ","=IF($B$8>4,F22/F13,\" \")"]
["Net Profit Margin",{"v":0.034666666666666665,"d":"3.47%"},{"v":0.03096774193548387,"d":"3.10%"},{"v":0.10058823529411764,"d":"10.06%"}," "," ","=IF($B$8>4,F26/F13,\" \")"]
[]
["Return on Total Assets (ROA)",{"v":0.10612244897959183,"d":"10.61%"},{"v":0.0867992766726944,"d":"8.68%"},{"v":0.2943201376936317,"d":"29.43%"}," "," ","=IF($B$8>4,F26/F48,\" \")"]
["Return on Equity (ROE)",{"v":0.47706422018348627,"d":"47.71%"},{"v":0.3157894736842105,"d":"31.58%"},{"v":0.684,"d":"68.40%"}," "," ","=IF($B$8>4,F26/F63,\" \")"]
[]
["Earnings Per Share",{"v":0.102,"d":"$0.10"},{"v":0.096,"d":"$0.10"},{"v":0.342,"d":"$0.34"}," "," ","=IF($B$8>4,F28/F66,\" \")"]
[]
["Price/Earnings Ratio",{"v":29.411764705882355,"d":"29.41"},{"v":52.083333333333336,"d":"52.08"},{"v":16.08187134502924,"d":"16.08"},"  ","  ","=IF(AND(F67>0,F89>0),F67/F89,\"  \")"]
[]
["DUPONT ANALYSIS"]
["Net Profit AT/Sales",{"v":0.034666666666666665,"d":"3.47%"},{"v":0.03096774193548387,"d":"3.10%"},{"v":0.10058823529411764,"d":"10.06%"}," "," ","=IF($B$8>4,F26/F13,\" \")"]
["Sales/Total Assets",{"v":3.061224489795918,"d":"306.12%"},{"v":2.8028933092224233,"d":"280.29%"},{"v":2.9259896729776247,"d":"292.60%"}," "," ","=IF($B$8>4,F13/F48,\" \")"]
["ROA",{"v":0.10612244897959183,"d":"10.61%"},{"v":0.0867992766726944,"d":"8.68%"},{"v":0.29432013769363163,"d":"29.43%"}," "," ","=IF($B$8>4,F94*F95,\" \")"]
["Net Profit AT/Total Assets",{"v":0.10612244897959183,"d":"10.61%"},{"v":0.0867992766726944,"d":"8.68%"},{"v":0.2943201376936317,"d":"29.43%"}," "," ","=IF($B$8>4,F26/F48,\" \")"]
["Total Assets/Stockhldrs. Equity",{"v":4.495412844036697,"d":"449.54%"},{"v":3.638157894736842,"d":"363.82%"},{"v":2.324,"d":"232.40%"}," "," ","=IF($B$8>4,F48/F63,\" \")"]
["ROE",{"v":0.4770642201834862,"d":"47.71%"},{"v":0.3157894736842105,"d":"31.58%"},{"v":0.684,"d":"68.40%"}," "," ","=IF($B$8>4,F97*F98,\" \")"]
[]
[]
[]
[]
["STATEMENT OF CASH FLOWS"]
["CASH FLOW FROM OPERATING ACTIVITIES",1996,1997,1998," "," "]
["Net Profit After Taxes",null,{"v":48,"d":"$48"},{"v":171,"d":"$171"}," "," "]
["Depreciation",null,{"v":11,"d":"$11"},{"v":12,"d":"$12"}," "," "]
["Decrease in Accts. Receiv.",null,{"v":-48,"d":"($48)"},{"v":-8,"d":"($8)"}," "," "]
["Decrease in Inventories",null,{"v":-46,"d":"($46)"},{"v":-9,"d":"($9)"}," "," "]
["Decrease in Other Assets",null,{"v":0,"d":"$0"},{"v":0,"d":"$0"}," "," "]
["Increase in Accounts Pay.",null,{"v":10,"d":"$10"},{"v":14,"d":"$14"}," "," "]
["Increase in Accruals",null,{"v":2,"d":"$2"},{"v":1,"d":"$1"}," "," "]
["Increase in Taxes Payable",null,{"v":0,"d":"$0"},{"v":0,"d":"$0"}," "," "]
["Increase in Other Cur. Lia.",null,{"v":0,"d":"$0"},{"v":0,"d":"$0"}," "," "]
["Cash Flow from Oper. Act.",null,{"v":-23,"d":"($23)"},{"v":181,"d":"$181"}," "," "]
[]
["CASH FLOW FROM INVESTMENT ACTIVITIES"]
["Increase in Gross Fixed Assets",null,{"v":-15,"d":"($15)"},{"v":-5,"d":"($5)"}," "," "]
["Cash Flow from Investments",null,{"v":-15,"d":"($15)"},{"v":-5,"d":"($5)"}," "," "]
[]
["CASH FLOW FROM FINANCING ACTIVITIES"]
["Increase in Notes Payable",null,{"v":10,"d":"$10"},{"v":-60,"d":"($60)"}," "," "]
["Increase in Long-Term Debt",null,{"v":-2,"d":"($2)"},{"v":-25,"d":"($25)"}," "," "]
["Changes in Stockholders' Equity",null,{"v":0,"d":"$0"},{"v":0,"d":"$0"}," "," "]
["Preferred Dividends Paid",null,{"v":0,"d":"$0"},{"v":0,"d":"$0"}," "," "]
["Common Dividends Paid (-)",null,{"v":-5,"d":"($5)"}," "," "," "]
["Cash Flow from Financing Activities",null,{"v":3,"d":"$3"},{"v":-85,"d":"($85)"}," "," "]
[]
["Net Incr. in Cash / Mark. Securities",null,{"v":-35,"d":"($35)"},{"v":91,"d":"$91"}," "," "]

{"sheet":"Sheet2","index":1,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet3","index":2,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet4","index":3,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet5","index":4,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet6","index":5,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet7","index":6,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet8","index":7,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet9","index":8,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet10","index":9,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet11","index":10,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet12","index":11,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet13","index":12,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet14","index":13,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet15","index":14,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}

{"sheet":"Sheet16","index":15,"n_rows":0,"n_cols":0,"rows_kept":0,"flags":["formulas_cached_only"]}