Fina Sample Reports

FINANCIAL ANALYSIS CS™
Sample Reports
version 2008.x.x
TL 19887 (10/14/2008)
Copyright Information
Text copyright 2004 - 2008 by Thomson Reuters/Tax & Accounting. All rights reserved.
Video display images copyright 2004- 2008 by Thomson Reuters/Tax & Accounting. All rights reserved.
Thomson Reuters hereby grants licensees of CS Professional Suite® software the right to reprint this document solely for their
internal use.
Trademark Information
The trademarks used herein are trademarks and registered trademarks used under license.
All other brand and product names mentioned in this guide are trademarks or registered trademarks of their respective holders.
.
Contents
Introduction ................................................................................................................................................. 1
Quick Analysis Financial Reports ............................................................................................................. 3

Liberty Medical Group, 2010 (title page) ................................................................................................................... 5
Firm Statement ..................................................................................................................................................... 5
Two-Year Comparison Reports ................................................................................................................................. 7
Balance Sheet – Two-Year Comparison .............................................................................................................. 7
Statement of Income – Two-Year Comparison ..................................................................................................... 8
Ratio Analysis – Two-Year Comparison ............................................................................................................... 9
Detailed Ratio Analysis – Two-Year Comparison ............................................................................................... 11
Industry Comparison Reports .................................................................................................................................. 27
Balance Sheet – Industry Comparison ............................................................................................................... 27
Statement of Income – Industry Comparison...................................................................................................... 28
Ratio Analysis – Industry Comparison ................................................................................................................ 29
Detailed Ratio Analysis – Industry Comparison .................................................................................................. 31
Group Comparison Reports .................................................................................................................................... 41
Balance Sheet – Group Comparison .................................................................................................................. 41
Statement of Income – Group Comparison ........................................................................................................ 42
Ratio Analysis – Group Comparison ................................................................................................................... 43
Detailed Ratio Analysis – Group Comparison..................................................................................................... 45
Five-Year Trend Analysis Reports...........................................................................................................................61
Balance Sheet – Five-Year Trend Analysis ........................................................................................................61
Statement of Income – Five-Year Trend Analysis ..............................................................................................63
Ratio Analysis – Five-Year Trend Analysis .........................................................................................................64
Ratio Formulas ........................................................................................................................................................65
Definitions of Categories .........................................................................................................................................67
Balance Sheet ....................................................................................................................................................67
Statement of Income ..........................................................................................................................................69
Financial Analysis CS: Sample Reports iii

Contents
iv Financial Analysis CS: Sample Reports

Liberty Medical Group
Balance Sheet - Two-Year Comparison
2008 2007 $ Variance % Variance
Assets
Cash & Equivalents $336,818 $319,978 $16,840 5.3%

Trade Accounts Receivable $134,569 $127,841 $6,728 5.3%
Inventory $12,985 $13,657 -$672 -4.9%
Other Current Assets $98,323 $94,325 $3,998 4.2%
Total Current Assets $582,695 $555,801 $26,894 4.8%
Long-Term Investments $81,197 $77,137 $4,060 5.3%

Net Fixed Assets $412,458 $383,750 $28,708 7.5%
Intangible Assets $61,874 $58,780 $3,094 5.3%
Other Non-Current Assets $78,390 $74,471 $3,919 5.3%
Total Assets $1,216,614 $1,149,939 $66,675 5.8%
Liabilities
Accounts Payable $42,787 $32,658 $10,129 31.0%

Notes Payable $88,247 $83,835 $4,412 5.3%
Accrued Liabilities $532,506 $530,190 $2,316 0.4%
Income Taxes Payable $10,014 $9,115 $899 9.9%
Current Portion of Long-Term Debt $111,238 $115,676 -$4,438 -3.8%
Total Current Liabilities $784,792 $771,474 $13,318 1.7%
Long-Term Debt $281,809 $263,352 $18,457 7.0%

Other Long-Term Liabilities $55,000 $36,000 $19,000 52.8%
Total Long-Term Liabilities $336,809 $299,352 $37,457 12.5%
Total Liabilities $1,121,601 $1,070,826 $50,775 4.7%
Retained Earnings $95,013 $79,113 $15,900 20.1%

Total Equity $95,013 $79,113 $15,900 20.1%
Total Liabilities and Equity $1,216,614 $1,149,939 $66,675 5.8%
Financial Analysis CS: Sample Reports 7

Statement of Income - Two-Year Comparison
2008 2007 $ Variance %
Sales $8,079,445 $7,756,268 $323,177 4.2%

Cost of Sales $0 $0 $0 0.0%
Gross Profit $8,079,445 $7,756,268 $323,177 4.2%
Operating Expenses $7,945,326 $7,620,193 $325,133 4.3%

Operating Profit $134,119 $136,075 -$1,956 -1.4%
Other Income $0 $0 $0 0.0%

Other Expenses $16,360 $15,542 $818 5.3%
Earnings Before Interest and Taxes $117,759 $120,533 -$2,774 -2.3%
Interest Expense $72,301 $68,439 $3,862 5.6%

Earnings Before Taxes $45,458 $52,094 -$6,636 -12.7%
Provision for Income Taxes $21,877 $21,070 $807 3.8%

Net Income $23,581 $31,024 -$7,443 -24.0%
Additional Information
Owners' Compensation $2,853,654 $2,796,581 $57,073 2.0%
Depreciation Expense $122,001 $115,901 $6,100 5.3%
Selling Expenses $0 $0 $0 0.0%
8 Financial Analysis CS: Sample Reports

Ratio Analysis - Two-Year Comparison
2008 2007 % Variance

Liquidity Ratios
Current Ratio 0.7 0.7 0.0%

Quick Ratio 0.6 0.6 0.0%
Defensive Interval Days 22.3 22.1 0.9%
Accounts Receivable to Working Capital -0.7 -0.6 16.7%
Inventory to Working Capital -0.1 -0.1 0.0%
Long-Term Liabilities to Working Capital -1.7 -1.4 21.4%
Sales to Working Capital -40.0 -36.0 11.1%
Activity Ratios
Accounts Receivable Turnover 60.0 60.7 -1.2%
Days Sales in Receivables 6.1 6.0 1.7%
Inventory Turnover 0.0 0.0 0.0%
Days Cost of Sales in Inventory 0.0 0.0 0.0%
Accounts Payable Turnover 0.0 0.0 0.0%
Days Cost of Sales in Payables 0.0 0.0 0.0%
Operating Cycle Days 6.1 6.0 1.7%
Sales to Assets 6.6 6.7 -1.5%
Sales to Net Fixed Assets 19.6 20.2 -3.0%
Percent Depreciation Expense to Fixed Assets 25.2 25.8 -2.3%
Percent Accumulated Depreciation to Fixed Assets 14.8 14.7 0.7%
Net Fixed Assets to Equity 4.3 4.9 -12.2%
Profitability Ratios
Percent Gross Profit 100.0 100.0 0.0%
Percent Profit Margin on Sales 0.6 0.7 -14.3%
Percent Rate of Return on Assets 3.7 4.5 -17.8%
Percent Rate of Return on Equity 47.8 65.8 -27.4%
Price Earnings Ratio 0.0 0.0 0.0%
Earnings Per Share 0.0 0.0 0.0%
Coverage Ratios
Debt to Total Assets 0.9 0.9 0.0%

Percent Owners' Equity 7.8 6.9 13.0%
Equity Multiplier 12.8 14.5 -11.7%
Debt to Equity 11.8 13.5 -12.6%
Cash Flow to Current Maturities Long-Term Debt 1.3 1.3 0.0%
Times Interest Earned 1.6 1.8 -11.1%
Book Value Per Share 0.0 0.0 0.0%
Expense to Sales Ratios
Percent Depreciation to Sales 1.5 1.5 0.0%

Percent Owners' Compensation to Sales 35.3 36.1 -2.2%

Quick Analysis Financial Reports

Detailed Ratio Analysis - Two-Year Comparison
Liquidity ratios measure a company’s ability to meet its maturing short-term obligations. In other words,
can a company quickly convert its assets to cash without a loss in value if necessary to meet its
short-term obligations? Favorable liquidity ratios are critical to a company and its creditors within a
business or industry that does not provide a steady and predictable cash flow. They are also a key
predictor of a company’s ability to make timely payments to creditors and to continue to meet
obligations to lenders when faced with an unforeseen event.
Current Ratio
Current Assets / Current Liabilities
This ratio reflects the number of times short-term assets cover short-term liabilities and is a fairly
accurate indication of a company's ability to service its current obligations. A higher number is preferred
because it indicates a strong ability to service short-term obligations. The composition of current assets
is a key factor in the evaluation of this ratio. Depending on the type of business or industry, current
assets may include slow-moving inventories that could potentially affect analysis of a company's liquidity
how long could it potentially take to convert raw materials and inventory into finished products? (For this
reason, the quick ratio may be preferable to the current ratio because it eliminates inventory and
prepaid expenses from this ratio for a more accurate gauge of a company's liquidity and ability to meet
short-term obligations.)
The current ratio for Liberty Medical

Group is 0.74, which compared to the
baseline of 0.72 indicates the
company's ability to service short-term
obligations is satisfactory. However the
value of the quick ratio will provide a
clearer indication of the company's
success in this area.
Quick Ratio
(Cash + Marketable Securities + Trade Accounts Receivable) / Current Liabilities
This ratio, also known as the acid test ratio, measures immediate liquidity - the number of times cash,
accounts receivable, and marketable securities cover short-term obligations. A higher number is
preferred because it suggests a company has a strong ability to service short-term obligations. This
ratio is a more reliable variation of the Current ratio because inventory, prepaid expenses, and other
less liquid current assets are removed from the calculation.

The quick ratio for Liberty Medical

obligations is favorable.
Defensive Interval Days

(Cash + Marketable Securities + Trade Accounts Receivable) / ((Operating Expenses - Other Expenses
- Interest Expense - Provision for Income Taxes - Depreciation Expense) / Days)
This ratio gauges the threat of insolvency for investors by calculating the number of days a company
can operate without any cash returns while meeting its basic operational costs. In general, this number
should be between 30 to 90 days.
Defensive interval days for Liberty

Medical Group is 22.31 days that
indicates that the company's degree of
protection against insolvency may not be
ideal.
Altman Z score Retail

(((Current Assets - Current Liabilities) / Total Assets) * 6.6) + ((Total Equity / Total Assets) * 3.3) +
((Earnings before Interest and Taxes / Total Assets) * 6.7) + ((Total Equity / Total Liabilities) * 1.0)
This ratio represents a numerical ranking that predicts the potential for bankruptcy of a retail company.
In general, the lower the score, the higher the odds of bankruptcy. Companies with Z-Scores above 3
are considered to be healthy and therefore, unlikely to enter bankruptcy.

The Altman Z score for Liberty Medical

Group is -0.11 that indicates the
company may have a relatively low
degree of protection against bankruptcy.
Altman Z score Manufacturing

((Earnings before Interest and Taxes / Total Assets) * 3.107) + ((Total Equity / Total Liabilities) * 0.42) +
((Sales / Total Assets) * 0.998)
This ratio represents a numerical ranking that predicts the potential for bankruptcy of a manufacturing
company. In general, the lower the score, the higher the odds of bankruptcy. Companies with Z-Scores
above 3 are considered to be healthy and therefore unlikely to enter bankruptcy.

Group is 6.91 that indicates the company
has a relatively high degree of protection
against bankruptcy.
Accounts Receivable to Working Capital

Trade Accounts Receivable / (Current Assets - Current Liabilities)
This ratio measures the dependency of working capital on the collection of receivables. A lower number
for this ratio is preferred, indicating that a company has a satisfactory level of working capital and
accounts receivable makes up an appropriate portion of current assets.

The accounts receivable to working

capital ratio for Liberty Medical Group is
-0.67, which compared to the baseline
of -0.59 indicates that the company's
performance is sufficient in this area.
Inventory to Working Capital

Inventory / (Current Assets - Current Liabilities)
This ratio measures the dependency of working capital on inventory. A lower number for this ratio is
preferred indicating that a company has a satisfactory level of working capital and inventory makes up a
reasonable portion of current assets.
The inventory to working capital ratio for

Liberty Medical Group is -0.06, which
compared to the baseline of -0.06
indicates this ratio is in line with
company goals.
Long Term Liabilities to Working Capital

Long Term Liabilities / (Current Assets - Current Liabilities)
This ratio measures the degree to which a company's long-term debt has been used to replenish
working capital versus fixed asset acquisition.
The long-term liabilities to working

of -1.39 indicates the value of this ratio
is meeting the company's expectations.

Sales to Working Capital

Sales / (Current Assets - Current Liabilities)
This ratio measures a company's ability to finance current operations. Working capital (current assets -
current liabilities) is another measure of liquidity and the ability to cover short-term obligations. This
ratio relates the ability of a company to generate sales using its working capital to determine how
efficiently working capital is being used. In general, a lower number is preferred because it indicates a
company has a satisfactory level of working capital. However, an exceptionally low number may
indicate inadequate sales levels are being generated.
The sales to working capital ratio for

reveals that the company's level of
working capital is strong. The company
may want to make an effort to generate
additional sales using the available
working capital.
The following list includes several suggestions Liberty Medical Group should consider to improve the
liquidity ratios:
Reduce days in accounts receivable to improve current assets by evaluating accounts receivable on a
more frequent basis and take a more assertive stance in the collection of accounts receivable and
delinquent accounts.
Prepare thorough cash forecasts and evaluate the company's ability to meet goals on a regular basis.
Consider paying off short-term obligations if the cash position of the company is favorable.
Consider converting short-term debt to long-term debt.
Reduce levels of non-moving inventory.

Activity ratios provide a useful gauge of a company's operations by determining, for example, the
average number of days it takes to collect on customer accounts and the average number of days to
pay vendors. A key point to keep in mind when evaluating these ratios is that seasonal fluctuations are
not necessarily reflected in the numbers that are derived from these calculations based on an account
balance on one single day.
Accounts Receivable Turnover

Sales / Trade Accounts Receivable
This ratio measures the number of times receivables turn over in a year and reveals how successful a
company is in collecting its outstanding receivables. A higher number is preferred because it indicates
a shorter time between sales and cash collection.
The accounts receivable turnover for

Liberty Medical Group is 60.04, which
compared to the baseline of 60.67
suggests this ratio may not be on target
with company objectives.
Days Sales in Receivables

Trade Accounts Receivable / (Sales / Days)
This ratio measures the average number of days a company's receivables are outstanding. A lower
number of days is desired. An increase in the number of days receivables are outstanding indicates an
increased possibility of late payment by customers. Companies should attempt to reduce the number of
days sales in receivables in order to increase cash flow. The general rule used is that the time allowed
for payment by the selling terms should not be exceeded by more than 10 or 15 days.
The days sales in receivables for Liberty

Medical Group is 6.08 days that indicates
the company is effective in collecting
outstanding receivables.
Operating Cycle Days

(Inventory / (Cost of Sales / Days)) + (Trade Accounts Receivable / (Sales / Days))

This ratio calculates the total conversion period for a company, or in other words, the average number
of days it takes to convert inventory into cash from sales. It is calculated by adding together the days
cost of sales in inventory to the days sales in receivables. Evaluating this ratio can be helpful in
gauging the effectiveness of marketing, determining credit terms to extend to customers, and collecting
outstanding accounts.
The operating cycle days for Liberty

Medical Group is 6.08 days, which
compared to the baseline of 6.02 days
indicates the company may not be
successfully minimizing the amount of
time it takes to convert products and
services into cash.
Sales to Assets
Sales / Total Assets
This ratio measures a company's ability to produce sales in relation to total assets to determine the
effectiveness of the company's asset base in producing sales. A higher number is preferred, indicating
that a company is using its assets to successfully generate sales. This ratio does not take into account
the depreciation methods employed by each company and should not be the only measure of
effectiveness of a company in this area.
Sales to assets for Liberty Medical

company's performance in this area is
lacking and management should
consider taking measures to improve
this ratio.
Sales to Net Fixed Assets

Sales / (Property and Equipment - Accumulated Depreciation)

This ratio measures a company's ability to effectively utilize its fixed assets to generate sales. This ratio
is similar to the sales to assets ratio, but it excludes current assets, long-term investments, intangible
assets, and other non-current assets. A higher number is desired, indicating that a company
productively uses its fixed assets to produce sales. This ratio does not take into account the
depreciation methods employed by each company and should not be the only measure of effectiveness
of a company in this area. In addition, fixed assets that are almost fully depreciated, and labor-intensive
operations may interfere with the interpretation of this ratio.
Sales to net fixed assets for Liberty

Medical Group is 19.59, which
indicates the company is not making
use of its fixed assets to effectively
generate sales.
Percent Depreciation Expense to Fixed Assets

Depreciation Expense / Property and Equipment * 100
This ratio measures the reasonableness and consistency of a company's depreciation expense over
time.
The percent depreciation expense to

fixed assets for Liberty Medical Group is
25.20%, which compared to the
baseline of 25.76% indicates the value
of this ratio is meeting the company's
expectations.
Percent Accumulated Depreciation to Fixed Assets

Accumulated Depreciation / Property and Equipment * 100
This ratio measures the cumulative percentage of productive asset costs a company has allocated to
operations.

The percent accumulated depreciation

to fixed assets for Liberty Medical Group
is 14.80%, which compared to the
baseline of 14.70% indicates this ratio
may not be on target with company
objectives.
Net Fixed Assets to Equity

(Property and Equipment - Accumulated Depreciation) / Total Equity
This ratio measures the extent to which investors' capital was used to finance productive assets. A
lower ratio indicates a proportionally smaller investment in fixed assets in relation to net worth, which is
desired by creditors in case of liquidation. Note that this ratio could appear deceptively low if a
significant number of a company's fixed assets are leased.
Net fixed assets to equity for Liberty

Medical Group is 4.34, which compared
to the baseline of 4.85 indicates the
company's performance is adequate in
this area.

Profitability ratios measure a company’s ability to use its capital or assets to generate profits. Improving
profitability is a constant challenge for all companies and their management. Evaluating profitability
ratios is a key component in determining the success of a company. It is important to note that all
profitability ratio calculations are based on earnings before taxes.
Percent Gross Profit

((Sales - Cost of Sales) / Sales) * 100
This ratio measures the gross profit earned on sales and reports how much of each sales dollar is
available to cover operating expenses and contribute to profits.
The percent gross profit for Liberty

Medical Group is 100.00%, which
compared to the baseline of 100.00% is
a good indication of financial health for
the company.
Percent Profit Margin on Sales

Earnings before Taxes / Sales * 100
This ratio measures how much profit a company makes on each sales dollar received and how well a
company could potentially deal with higher costs or lower sales in the future.
The percent profit margin on sales for

Liberty Medical Group is 0.56%, which
compared to the baseline of 0.67%
indicates sales may not be contributing
enough to the company's bottom line.
Percent Rate of Return on Assets

Earnings before Taxes / Total Assets * 100
This ratio measures how effectively a company's assets are being used to generate profits. It is one of
the most important ratios when evaluating the success of a business. A higher number reflects a well
managed company with a healthy return on assets. Heavily depreciated assets, a large number of
intangible assets, or any unusual income or expenses can easily distort this calculation.

The percent rate of return on assets for

indicates there is a need for
improvement in this area to ensure the
company can remain competitive and
continue to operate successfully.
Percent Rate of Return on Equity

Earnings before Taxes / Total Equity * 100
This ratio expresses the rate of return on equity capital employed and measures the ability of a
company's management to realize an adequate return on the capital invested by the owners in a
company. A higher number is preferred for this commonly analyzed ratio.
The percent rate of return on equity for

indicates management may not be
effectively managing the profits earned
based on the owners investment in the
company.

Coverage ratios assess a company’s ability to meet its long-term obligations, remain solvent, and avoid
bankruptcy. It measures how well a company’s cash flow covers its short-term financial obligations.
Lenders evaluate coverage ratios to determine the degree to which a company could become
vulnerable when faced with economic downturns. A company with a high level of debt poses a higher
risk to long-term creditors and investors.
Debt to Total Assets

Total Liabilities / Total Assets
This ratio measures what proportion of debt a company is carrying relative to its assets. A ratio value
greater than one indicates a company has more debt than assets. Naturally, companies and creditors
prefer a lower number.
The debt to total assets ratio for Liberty

company should be able to withstand
losses without harming creditor interests
or could obtain additional financing if
desired.
Percent Owners Equity

Total Equity / Total Assets * 100
This ratio measures what proportion of total assets was provided by the owners equity. The higher the
number the more total capital has been contributed by owners and the less by creditors.
The percent owners' equity ratio for

indicates the company owns an
adequate portion of its asset base.
Equity Multiplier
Total Assets / Total Equity
This ratio measures the extent to which a company uses debt to finance its assets. The higher the
number is, the more a company is relying on debt to finance its assets.

The equity multiplier for Liberty Medical

baseline of 14.54 indicates a reasonable
portion of the company's assets are
owned versus financed.
Debt to Equity
Total Liabilities / Total Equity
This ratio measures the financial leverage of a company by indicating what proportion of debt and equity
a company is using to finance its assets. A lower number suggests there is both a lower risk involved
for creditors and strong, long-term, financial security for a company.
The debt to equity ratio for Liberty

indicates a solid performance in this
area for the company.
Cash Flow to Current Maturities Long Term Debt

(Net Income + Depreciation Expense) / Current Portion of Long Term Debt
This ratio measures how well cash flow from operations covers current maturities. Since cash flow is
necessary for debt retirement, this ratio reveals a company's capability to repay existing debt and to
take on additional debt. A higher number for this ratio is desired.

The cash flow to current maturities

long-term debt ratio for Liberty Medical
baseline of 1.27 indicates the company
is in a strong position to meet its current
obligations on long-term debt based on
its current cash flow.
Times Interest Earned

Earnings before Interest and Taxes / Interest Expense
This ratio measures a company's ability to meet interest payments. A higher number is preferred,
suggesting a company can easily meet interest obligations and can potentially take on additional debt.
Note that this particular ratio uses earnings before interest and taxes because this is the income amount
available to cover interest.
The times interest earned ratio for

indicates the company's interest
coverage may not be sufficient.
coverage ratios:
Examine the company’s debt to uncover areas needing improvement and create a long range action
plan to address these areas and pay down debt.
Increase equity by increasing earnings.
Minimize the overall amount of debt to decrease interest expenses.
Reduce interest payments by evaluating financing alternatives and possibly refinancing existing debt.

Expense to sales ratios express specific expense items as a percentage of net sales. Comparisons of
expenses are more meaningful because net sales is used as a constant. Extreme variations in these
ratios are most pronounced between capital- and labor-intensive industries.
Percent Depreciation to Sales

Depreciation Expense / Sales * 100
This ratio measures depreciation expense as a percentage of sales and is based on a company's fixed
assets and how quickly they are being depreciated or amortized, relative to sales. Any depletion
expenses should be included in this ratio as well. Note that depreciation methods should also be
considered when evaluating this ratio.
The percent depreciation to sales for

indicates the company should consider
taking measures to improve this ratio.
Percent Owners Compensation to Sales

Owners Compensation / Sales * 100
This ratio measures owners' compensation (which includes salaries, bonuses, commissions, drawings
of partners, etc.) as a percentage of sales. The desired percentage may vary between companies
depending on their individual goals.
The percent owners' compensation to

sales for Liberty Medical Group is
baseline of 36.06% indicates the
company is performing as desired in this
area.


Balance Sheet - Industry Comparison
621111 - Offices of Physicians (except Mental Health Specialists)
2008 % Assets Industry Variance
Assets
Cash & Equivalents $336,818 27.7% 27.7% 0.0%

Trade Accounts Receivable $134,569 11.1% 13.0% -1.9%
Inventory $12,985 1.1% 1.5% -0.4%
Other Current Assets $98,323 8.1% 3.5% 4.6%
Total Current Assets $582,695 47.9% 45.7% 2.2%
Long-Term Investments $81,197 6.7% N/A 6.7%

Net Fixed Assets $412,458 33.9% 40.8% -6.9%
Intangible Assets $61,874 5.1% 2.9% 2.2%
Other Non-Current Assets $78,390 6.4% 10.6% -4.2%
Total Assets $1,216,614 100.0% 100.0% 0.0%
Liabilities
Accounts Payable $42,787 3.5% 3.4% 0.1%

Notes Payable $88,247 7.3% 14.4% -7.1%
Accrued Liabilities $532,506 43.8% N/A 43.8%
Income Taxes Payable $10,014 0.8% 0.2% 0.6%
Current Portion of Long-Term Debt $111,238 9.1% 8.6% 0.5%
Other Current Liabilities $0 0.0% 31.9% -31.9%
Total Current Liabilities $784,792 64.5% 58.3% 6.2%
Long-Term Debt $281,809 23.2% 29.6% -6.4%

Deferred Income Taxes $0 0.0% 0.3% -0.3%
Other Long-Term Liabilities $55,000 4.5% 4.1% 0.4%
Total Long-Term Liabilities $336,809 27.7% 34.0% -6.3%
Total Liabilities $1,121,601 92.2% 92.3% -0.1%
Retained Earnings $95,013 7.8% N/A 7.8%

Total Equity $95,013 7.8% 7.6% 0.2%
Total Liabilities and Equity $1,216,614 100.0% 99.9% 0.1%

Statement of Income - Industry Comparison
2008 % Sales Industry Variance
Sales $8,079,445 100.0% 100.0% 0.0%

Cost of Sales $0 0.0% N/A 0.0%
Gross Profit $8,079,445 100.0% 100.0% 0.0%
Operating Expenses $7,945,326 98.3% 91.2% 7.1%

Operating Profit $134,119 1.7% 8.8% -7.1%
Other Expenses $16,360 0.2% 0.8% -0.6%

Earnings Before Taxes $45,458 0.6% 7.9% -7.3%

Ratio Analysis - Industry Comparison
Liberty Medical
Group Industry % Variance
Liquidity Ratios
Current Ratio 0.7 0.9 -22.2%
Quick Ratio 0.6 0.8 -25.0%
Sales to Working Capital -40.0 -253.1 -84.2%
Activity Ratios
Accounts Receivable Turnover 60.0 999.9 -94.0%
Days Sales in Receivables 6.1 0.0 0.0%
Sales to Assets 6.6 8.5 -22.4%
Sales to Net Fixed Assets 19.6 25.1 -21.9%
Net Fixed Assets to Equity 4.3 3.9 10.3%
Percent Rate of Return on Assets 3.7 11.1 -66.7%
Percent Rate of Return on Equity 47.8 48.2 -0.8%
Coverage Ratios
Debt to Equity 11.8 10.4 13.5%
Cash Flow to Current Maturities Long-Term Debt 1.3 1.4 -7.1%
Times Interest Earned 1.6 4.6 -65.2%

Percent Depreciation to Sales 1.5 1.7 -11.8%
Percent Owners' Compensation to Sales 35.3 30.4 16.1%


Detailed Ratio Analysis - Industry Comparison
Current Ratio

obligations is not satisfactory.
Quick Ratio


obligations is unfavorable.


reveals that the company may want to
make an effort to improve its working
capital position.
liquidity ratios:

accounts receivable turnover and days sales in receivables ratios:
Prepare aging schedules to determine how long receivables have been outstanding. The company
should review these on a regular basis to look for patterns in delinquent accounts. Communicate with
customers and apply increasing pressure to pay as the number of days outstanding increases.
Develop a strategy to deal with problem customers and delinquent accounts.
Invoice customers in a timely manner.
Enforce credit policies to require credit references of new customers; to evaluate the credit currently
extended to each customer, and to update credit terms for your valuable and problem customer
accordingly.
Implement customer incentives to encourage prompt payment such as discounts and additional
products.
Sales to Assets

company's performance in this area is
lacking and management should
consider taking measures to improve
this ratio.



indicates the company is not making
use of its fixed assets to effectively
generate sales.
The following list includes several suggestions Liberty Medical Group should consider to improve the sales
to assets and sales to fixed assets ratios:
Consider leasing rather than purchasing assets, or consider purchasing used equipment.
Carefully evaluate all asset purchases to determine how the asset will directly and indirectly affect
sales. Be sure to consider maintenance costs, warranties, salvage values, and the impact of changing
technology in relation to the purchase of new equipment.
Consider liquidating under-utilized assets or developing alternative uses to generate revenue from
under-utilized assets.
Maintain detailed records for all assets the company currently owns or leases.
Ensure all equipment is properly maintained and evaluate its overall condition and effectiveness
within operations at least once a year.
Eliminate any unnecessary, extravagant assets. Assets should have a direct or indirect impact on
sales.
Set monthly or quarterly sales goals and provide incentives to salespeople.
Create customer promotions, offer discounts and expand product lines to encourage sales.



company's performance may be
insufficient in this area.



indicates there is a need for
improvement in this area to ensure the
company can remain competitive and
continue to operate successfully.


indicates management may not be
effectively managing the profits earned
based on the owners investment in the
company.
profitability ratios:
Require management to utilize budgets to track expenses on a regular basis, and identify those that
are out of line. Assign specific individuals or departments to be responsible for different cost centers.

Reduce operating costs. In general, one dollar saved in expense is worth at least three or four extra
sales dollars generated.
Negotiate with vendors to lower costs and have companies submit bids for large capital expenditures.
Consider leasing instead of purchasing assets or consider purchasing used equipment.
Consider liquidating under-utilized assets or creating alternative uses to generate revenue from under
-utilized assets.
Debt to Equity

indicates there may be some issues
with the way the company is financed.


may face difficulties meeting its current



coverage may not be sufficient.
coverage ratios:



indicates the company is performing
well in this area.


company may not be performing as
desired in this area.


Balance Sheet - Group Comparison
2008 % Assets Peer Group Variance
Assets
Cash & Equivalents $336,818 27.7% 27.4% 0.3%

Trade Accounts Receivable $134,569 11.1% 11.4% -0.3%
Inventory $12,985 1.1% 1.1% 0.0%
Other Current Assets $98,323 8.1% 8.0% 0.1%
Total Current Assets $582,695 47.9% 47.9% 0.0%
Long-Term Investments $81,197 6.7% 6.9% -0.2%

Net Fixed Assets $412,458 33.9% 33.9% 0.0%
Intangible Assets $61,874 5.1% 4.9% 0.2%
Other Non-Current Assets $78,390 6.4% 6.4% 0.0%
Total Assets $1,216,614 100.0% 100.0% 0.0%
Liabilities
Accounts Payable $42,787 3.5% 3.5% 0.0%

Notes Payable $88,247 7.3% 7.1% 0.2%
Accrued Liabilities $532,506 43.8% 43.8% 0.0%
Income Taxes Payable $10,014 0.8% 0.8% 0.0%
Current Portion of Long-Term Debt $111,238 9.1% 9.2% -0.1%
Total Current Liabilities $784,792 64.5% 64.5% 0.0%
Long-Term Debt $281,809 23.2% 23.0% 0.2%

Other Long-Term Liabilities $55,000 4.5% 4.5% 0.0%
Total Long-Term Liabilities $336,809 27.7% 27.5% 0.2%
Total Liabilities $1,121,601 92.2% 92.0% 0.2%
Retained Earnings $95,013 7.8% 8.0% -0.2%

Total Equity $95,013 7.8% 8.0% -0.2%
Total Liabilities and Equity $1,216,614 100.0% 100.0% 0.0%

Statement of Income - Group Comparison
2008 % Sales Peer Group Variance
Sales $8,079,445 100.0% 100.0% 0.0%

Cost of Sales $0 0.0% 0.0% 0.0%
Gross Profit $8,079,445 100.0% 100.0% 0.0%
Operating Expenses $7,945,326 98.3% 98.4% -0.1%

Operating Profit $134,119 1.7% 1.6% 0.1%
Other Income $0 0.0% 0.0% 0.0%

Other Expenses $16,360 0.2% 0.2% 0.0%
Earnings Before Interest and Taxes $117,759 1.5% 1.4% 0.1%
Interest Expense $72,301 0.9% 0.9% 0.0%

Earnings Before Taxes $45,458 0.6% 0.5% 0.1%
Provision for Income Taxes $21,877 0.3% 0.3% 0.0%

Net Income $23,581 0.3% 0.2% 0.1%
Owners Compensation $2,853,654 35.3% 35.3% 0.0%
Depreciation Expense $122,001 1.5% 1.5% 0.0%
Selling Expenses $0 0.0% 0.0% 0.0%

Ratio Analysis - Group Comparison
Liberty Medical
Group Peer Group % Variance
Liquidity Ratios
Current Ratio 0.7 0.7 0.0%

Quick Ratio 0.6 0.6 0.0%
Defensive Interval Days 22.3 22.8 -2.2%
Accounts Receivable to Working Capital -0.7 -0.7 0.0%
Inventory to Working Capital -0.1 -0.1 0.0%
Long-Term Liabilities to Working Capital -1.7 -1.7 0.0%
Sales to Working Capital -40.0 -39.2 2.0%
Activity Ratios
Accounts Receivable Turnover 60.0 57.2 4.9%

Days Sales in Receivables 6.1 6.4 -4.7%
Operating Cycle Days 6.1 6.4 -4.7%
Sales to Assets 6.6 6.5 1.5%
Sales to Net Fixed Assets 19.6 19.1 2.6%
Percent Depreciation Expense to Fixed Assets 25.2 24.6 2.4%
Percent Accumulated Depreciation to Fixed Assets 14.8 14.8 0.0%
Net Fixed Assets to Equity 4.3 4.3 0.0%
Percent Gross Profit 100.0 100.0 0.0%
Percent Profit Margin on Sales 0.6 0.5 20.0%
Percent Rate of Return on Assets 3.7 3.3 12.1%
Percent Rate of Return on Equity 47.8 40.9 16.9%
Price Earnings Ratio 0.0 0.0 0.0%
Earnings Per Share 0.0 0.0 0.0%
Coverage Ratios
Debt to Total Assets 0.9 0.9 0.0%
Percent Owners' Equity 7.8 8.0 -2.5%
Equity Multiplier 12.8 12.6 1.6%
Debt to Equity 11.8 11.6 1.7%
Cash Flow to Current Maturities Long-Term Debt 1.3 1.2 8.3%
Times Interest Earned 1.6 1.6 0.0%
Book Value Per Share 0.0 0.0 0.0%
Percent Depreciation to Sales 1.5 1.5 0.0%

Percent Owners' Compensation to Sales 35.3 35.3 0.0%


Detailed Ratio Analysis - Group Comparison
Current Ratio

obligations is satisfactory. However the
value of the quick ratio will provide a
clearer indication of the company's
success in this area.
Quick Ratio


obligations is favorable.
Defensive Interval Days

(Cash + Marketable Securities + Trade Accounts Receivable) / ((Operating Expenses - Other Expenses
- Interest Expense - Provision for Income Taxes - Depreciation Expense) / Days)
This ratio gauges the threat of insolvency for investors by calculating the number of days a company
can operate without any cash returns while meeting its basic operational costs. In general, this number
should be between 30 to 90 days.
Defensive interval days for Liberty

Medical Group is 22.31 days that
indicates that the company's degree of
protection against insolvency may not be
ideal.
Altman Z score Retail

((Earnings before Interest and Taxes / Total Assets) * 6.7) + ((Total Equity / Total Liabilities) * 1.0)
This ratio represents a numerical ranking that predicts the potential for bankruptcy of a retail company.
In general, the lower the score, the higher the odds of bankruptcy. Companies with Z-Scores above 3
are considered to be healthy and therefore, unlikely to enter bankruptcy.


Group is -0.11 that indicates the
company may have a relatively low
degree of protection against bankruptcy.
Altman Z score Manufacturing

((Earnings before Interest and Taxes / Total Assets) * 3.107) + ((Total Equity / Total Liabilities) * 0.42) +
((Sales / Total Assets) * 0.998)
This ratio represents a numerical ranking that predicts the potential for bankruptcy of a manufacturing
company. In general, the lower the score, the higher the odds of bankruptcy. Companies with Z-Scores
above 3 are considered to be healthy and therefore unlikely to enter bankruptcy.

Group is 6.91 that indicates the company
has a relatively high degree of protection
against bankruptcy.
Accounts Receivable to Working Capital

Trade Accounts Receivable / (Current Assets - Current Liabilities)
This ratio measures the dependency of working capital on the collection of receivables. A lower number
for this ratio is preferred, indicating that a company has a satisfactory level of working capital and
accounts receivable makes up an appropriate portion of current assets.

The accounts receivable to working

of -0.69 indicates the company's
performance may be insufficient in this
area.
Inventory to Working Capital

Inventory / (Current Assets - Current Liabilities)
This ratio measures the dependency of working capital on inventory. A lower number for this ratio is
preferred indicating that a company has a satisfactory level of working capital and inventory makes up a
reasonable portion of current assets.
The inventory to working capital ratio for

indicates this ratio may not be in line
with company goals.
Long Term Liabilities to Working Capital

Long Term Liabilities / (Current Assets - Current Liabilities)
This ratio measures the degree to which a company's long-term debt has been used to replenish
working capital versus fixed asset acquisition.
The long-term liabilities to working

of -1.67 indicates the value of this ratio
is meeting the company's expectations.



reveals that the company's level of
working capital is strong. The company
may want to make an effort to generate
additional sales using the available
working capital.
liquidity ratios:

Accounts Receivable Turnover

Sales / Trade Accounts Receivable
This ratio measures the number of times receivables turn over in a year and reveals how successful a
company is in collecting its outstanding receivables. A higher number is preferred because it indicates
a shorter time between sales and cash collection.
The accounts receivable turnover for

indicates this ratio is on target with
company objectives.
Days Sales in Receivables

Trade Accounts Receivable / (Sales / Days)
This ratio measures the average number of days a company's receivables are outstanding. A lower
number of days is desired. An increase in the number of days receivables are outstanding indicates an
increased possibility of late payment by customers. Companies should attempt to reduce the number of
days sales in receivables in order to increase cash flow. The general rule used is that the time allowed
for payment by the selling terms should not be exceeded by more than 10 or 15 days.
The days sales in receivables for Liberty

Medical Group is 6.08 days that indicates
the company is effective in collecting
outstanding receivables.
Operating Cycle Days

(Inventory / (Cost of Sales / Days)) + (Trade Accounts Receivable / (Sales / Days))

This ratio calculates the total conversion period for a company, or in other words, the average number
of days it takes to convert inventory into cash from sales. It is calculated by adding together the days
cost of sales in inventory to the days sales in receivables. Evaluating this ratio can be helpful in
gauging the effectiveness of marketing, determining credit terms to extend to customers, and collecting
outstanding accounts.
The operating cycle days for Liberty

Medical Group is 6.08 days, which
compared to the baseline of 6.40 days
indicates the company is successfully
minimizing the amount of time it takes to
convert products and services into cash.
Sales to Assets

is performing well in this area.



indicates the company is making
effective use of its fixed assets to
generate sales.
Percent Depreciation Expense to Fixed Assets

Depreciation Expense / Property and Equipment * 100
This ratio measures the reasonableness and consistency of a company's depreciation expense over
time.
The percent depreciation expense to

fixed assets for Liberty Medical Group is
baseline of 24.60% indicates the value
of this ratio may not be meeting the
company's expectations.
Percent Accumulated Depreciation to Fixed Assets

Accumulated Depreciation / Property and Equipment * 100
This ratio measures the cumulative percentage of productive asset costs a company has allocated to
operations.

The percent accumulated depreciation

to fixed assets for Liberty Medical Group
is 14.80%, which compared to the
baseline of 14.80% indicates this ratio is
on target with company objectives.


company's performance may be
insufficient in this area.

Percent Gross Profit

((Sales - Cost of Sales) / Sales) * 100
This ratio measures the gross profit earned on sales and reports how much of each sales dollar is
available to cover operating expenses and contribute to profits.
The percent gross profit for Liberty

Medical Group is 100.00%, which
compared to the baseline of 100.00% is
a good indication of financial health for
the company.
Percent Profit Margin on Sales

Earnings before Taxes / Sales * 100
This ratio measures how much profit a company makes on each sales dollar received and how well a
company could potentially deal with higher costs or lower sales in the future.
The percent profit margin on sales for

indicates sales are significantly
contributing to the company's bottom
line.



indicates the company successfully
utilizes its asset base to generate
profits.


indicates the company's management is
performing effectively in this area.

Debt to Total Assets

Total Liabilities / Total Assets
This ratio measures what proportion of debt a company is carrying relative to its assets. A ratio value
greater than one indicates a company has more debt than assets. Naturally, companies and creditors
prefer a lower number.
The debt to total assets ratio for Liberty

company should be able to withstand
losses without harming creditor interests
or could obtain additional financing if
desired.
Percent Owners Equity

Total Equity / Total Assets * 100
This ratio measures what proportion of total assets was provided by the owners equity. The higher the
number the more total capital has been contributed by owners and the less by creditors.
The percent owners' equity ratio for

indicates the company may not own an
adequate or large enough portion of its
asset base.
Equity Multiplier
Total Assets / Total Equity
This ratio measures the extent to which a company uses debt to finance its assets. The higher the
number is, the more a company is relying on debt to finance its assets.

The equity multiplier for Liberty Medical

company's assets are highly leveraged
and the company could be considered a
risk by creditors.
Debt to Equity

indicates there may be some issues
with the way the company is financed.



is in a strong position to meet its current


coverage is sufficient.
coverage ratios:



indicates the company is performing
well in this area.


company is performing as desired in this
area.


Balance Sheet - Five-Year Trend Analysis
2008 2007 2006 2005 2004
Assets
Cash & Equivalents $336,818 $319,978 $313,578 $310,378 $303,978

Trade Accounts Receivable $134,569 $127,841 $125,284 $124,005 $121,449
Inventory $12,985 $13,657 $13,384 $13,247 $12,974
Other Current Assets $98,323 $94,325 $92,439 $91,495 $89,609
Total Current Assets $582,695 $555,801 $544,685 $539,125 $528,010
Long-Term Investments $81,197 $77,137 $75,594 $74,823 $73,280

Net Fixed Assets $412,458 $383,750 $366,088 $373,140 $379,580
Intangible Assets $61,874 $58,780 $57,605 $57,017 $55,841
Other Non-Current Assets $78,390 $74,471 $72,981 $72,236 $70,747
Total Assets $1,216,614 $1,149,939 $1,116,953 $1,116,341 $1,107,458
Liabilities
Accounts Payable $42,787 $32,658 $36,777 $37,730 $39,383

Notes Payable $88,247 $83,835 $88,142 $85,498 $81,223
Accrued Liabilities $532,506 $530,190 $484,929 $470,382 $446,861
Income Taxes Payable $10,014 $9,115 $8,905 $8,638 $8,206
Current Portion of Long-Term Debt $111,238 $115,676 $117,995 $120,687 $124,596
Total Current Liabilities $784,792 $771,474 $736,748 $722,935 $700,269
Long-Term Debt $281,809 $263,352 $266,740 $270,240 $275,560

Other Long-Term Liabilities $55,000 $36,000 $37,000 $38,000 $39,000
Total Long-Term Liabilities $336,809 $299,352 $303,740 $308,240 $314,560
Total Liabilities $1,121,601 $1,070,826 $1,040,488 $1,031,175 $1,014,829
Retained Earnings $95,013 $79,113 $76,465 $85,166 $92,629

Total Equity $95,013 $79,113 $76,465 $85,166 $92,629
Total Liabilities and Equity $1,216,614 $1,149,939 $1,116,953 $1,116,341 $1,107,458

Statement of Income - Five-Year Trend Analysis
2008 2007 2006 2005 2004
Sales $8,079,445 $7,756,268 $7,601,142 $7,523,579 $7,445,102

Cost of Sales $0 $0 $0 $0 $0
Gross Profit $8,079,445 $7,756,268 $7,601,142 $7,523,579 $7,445,102
Operating Expenses $7,945,326 $7,620,193 $7,453,119 $7,369,162 $7,295,736

Operating Profit $134,119 $136,075 $148,023 $154,417 $149,366
Other Income $0 $0 $0 $0 $0
Other Expenses $16,360 $15,542 $15,231 $15,076 $14,749
Earnings Before Interest and Taxes $117,759 $120,533 $132,792 $139,341 $134,617
Interest Expense $72,301 $68,439 $67,071 $66,386 $64,949

Earnings Before Taxes $45,458 $52,094 $65,721 $72,955 $69,668
Provision for Income Taxes $21,877 $21,070 $20,649 $20,438 $19,995

Net Income $23,581 $31,024 $45,072 $52,517 $49,673
Owners Compensation $2,853,654 $2,796,581 $2,810,564 $2,768,615 $2,712,683
Depreciation Expense $122,001 $115,901 $113,583 $112,424 $115,437
Selling Expenses $0 $0 $0 $0 $0

Ratio Analysis - Five-Year Trend Analysis
2008 2007 2006 2005 2004
Liquidity Ratios
Current Ratio 0.7 0.7 0.7 0.7 0.8

Quick Ratio 0.6 0.6 0.6 0.6 0.6
Defensive Interval Days 22.3 22.1 22.1 22.2 21.9
Accounts Receivable to Working Capital -0.7 -0.6 -0.7 -0.7 -0.7
Inventory to Working Capital -0.1 -0.1 -0.1 -0.1 -0.1
Long-Term Liabilities to Working Capital -1.7 -1.4 -1.6 -1.7 -1.8
Sales to Working Capital -40.0 -36.0 -39.6 -40.9 -43.2
Activity Ratios
Accounts Receivable Turnover 60.0 60.7 60.7 60.7 61.3

Days Sales in Receivables 6.1 6.0 6.0 6.0 6.0
Inventory Turnover 0.0 0.0 0.0 0.0 0.0
Days Cost of Sales in Inventory 0.0 0.0 0.0 0.0 0.0
Accounts Payable Turnover 0.0 0.0 0.0 0.0 0.0
Days Cost of Sales in Payables 0.0 0.0 0.0 0.0 0.0
Operating Cycle Days 6.1 6.0 6.0 6.0 6.0
Sales to Assets 6.6 6.7 6.8 6.7 6.7
Sales to Net Fixed Assets 19.6 20.2 20.8 20.2 19.6
Percent Depreciation Expense to Fixed Assets 25.2 25.8 26.5 26.3 27.1
Percent Accumulated Depreciation to Fixed Assets 14.8 14.7 14.7 12.9 11.0
Net Fixed Assets to Equity 4.3 4.9 4.8 4.4 4.1
Percent Gross Profit 100.0 100.0 100.0 100.0 100.0
Percent Profit Margin on Sales 0.6 0.7 0.9 1.0 0.9
Percent Rate of Return on Assets 3.7 4.5 5.9 6.5 6.3
Percent Rate of Return on Equity 47.8 65.8 85.9 85.7 75.2
Price Earnings Ratio 0.0 0.0 0.0 0.0 0.0
Earnings Per Share 0.0 0.0 0.0 0.0 0.0
Coverage Ratios
Debt to Total Assets 0.9 0.9 0.9 0.9 0.9
Percent Owners' Equity 7.8 6.9 6.8 7.6 8.4
Equity Multiplier 12.8 14.5 14.6 13.1 12.0
Debt to Equity 11.8 13.5 13.6 12.1 11.0
Cash Flow to Current Maturities Long Term Debt 1.3 1.3 1.3 1.4 1.3
Times Interest Earned 1.6 1.8 2.0 2.1 2.1
Book Value Per Share 0.0 0.0 0.0 0.0 0.0
Percent Depreciation to Sales 1.5 1.5 1.5 1.5 1.6
Percent Owners' Compensation to Sales 35.3 36.1 37.0 36.8 36.4

Fina Sample Reports

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Fina Sample Reports

Uploaded by

Copyright:

Available Formats

FINANCIAL ANALYSIS CS™

Quick Analysis Financial Reports ............................................................................................................. 3

Financial Analysis CS: Sample Reports iii

iv Financial Analysis CS: Sample Reports

2008 2007 $ Variance % Variance

Cash & Equivalents $336,818 $319,978 $16,840 5.3%

Long-Term Investments $81,197 $77,137 $4,060 5.3%

Accounts Payable $42,787 $32,658 $10,129 31.0%

Long-Term Debt $281,809 $263,352 $18,457 7.0%

Total Liabilities $1,121,601 $1,070,826 $50,775 4.7%

Retained Earnings $95,013 $79,113 $15,900 20.1%

Total Liabilities and Equity $1,216,614 $1,149,939 $66,675 5.8%

Financial Analysis CS: Sample Reports 7

2008 2007 $ Variance %

Sales $8,079,445 $7,756,268 $323,177 4.2%

Operating Expenses $7,945,326 $7,620,193 $325,133 4.3%

Other Income $0 $0 $0 0.0%

Interest Expense $72,301 $68,439 $3,862 5.6%

Provision for Income Taxes $21,877 $21,070 $807 3.8%

8 Financial Analysis CS: Sample Reports

2008 2007 % Variance

Current Ratio 0.7 0.7 0.0%

Debt to Total Assets 0.9 0.9 0.0%

Expense to Sales Ratios

Percent Depreciation to Sales 1.5 1.5 0.0%

Financial Analysis CS: Sample Reports 9

10 Financial Analysis CS: Sample Reports

The current ratio for Liberty Medical

Financial Analysis CS: Sample Reports 11

The quick ratio for Liberty Medical

Defensive Interval Days

Defensive interval days for Liberty

Altman Z score Retail

12 Financial Analysis CS: Sample Reports

The Altman Z score for Liberty Medical

Altman Z score Manufacturing

The Altman Z score for Liberty Medical

Accounts Receivable to Working Capital

Financial Analysis CS: Sample Reports 13

The accounts receivable to working

Inventory to Working Capital

The inventory to working capital ratio for

Long Term Liabilities to Working Capital

The long-term liabilities to working

14 Financial Analysis CS: Sample Reports

Sales to Working Capital

The sales to working capital ratio for

Financial Analysis CS: Sample Reports 15

Accounts Receivable Turnover

The accounts receivable turnover for

Days Sales in Receivables

The days sales in receivables for Liberty

Operating Cycle Days

16 Financial Analysis CS: Sample Reports

The operating cycle days for Liberty

Sales to assets for Liberty Medical

Sales to Net Fixed Assets

Financial Analysis CS: Sample Reports 17

Sales to net fixed assets for Liberty

Percent Depreciation Expense to Fixed Assets

The percent depreciation expense to

Percent Accumulated Depreciation to Fixed Assets

18 Financial Analysis CS: Sample Reports