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Statement of earnings
(for years ending January 31)
2004
930,110
644,190
285,920
2005
1,599,920
1,171,760
428,160
2006
2,066,820
1,476,840
589,980
183,620
19,430
6,710
29,100
76,430
0
315,290
27,230
253,910
22,200
0
27,560
104,720
10,300
418,690
29,220
306,170
11,100
0
23,860
132,850
24,360
498,340
33,750
-56,600
0
-56,600
-19,750
0
-19,750
57,890
0
57,890
2005
-56,600
-19,750
0
-76,350
2006
-76,350
57,890
0
-18,460
Balance Sheets
(as at January 31)
2004
ASSETS
Current assets
Cash
Accounts receivable, net
Inventory
Prepaid expenses
Total current assets
Fixed Assets
Land
Automobiles
Building
Equipment
Sub Total
Less: acumulated amortizatio
Net fixed assets
Other assets
Goodwill
Deferred charges
TOTAL ASSETS
LIABILITIES
Current liabilities
Accounts payable
Other current liabilities
Total current liabilities
Long term liabilities
bank loan
Transport loan
Mortgage payable
CCB mortgage payable
Total long term liabilities
Equity
Common Stock
Retained earnings
Total Equity
TOTAL LIABILITIES & EQUITY
2005
2006
86,060
128,500
308,980
3,020
526,560
17,510
201,670
342,080
3,020
564,280
1,420
338,690
474,630
1,740
816,480
34,350
0
34,350
34,350
34,350
10,300
24,050
60,880
47,850
122,940
3,990
235,660
34,660
201,000
30,000
6,570
30,000
3,850
30,000
2,750
597,480
622,180
1,050,230
184,640
15,790
200,430
290,740
11,850
302,590
502,500
35,850
538,350
126,900
30,240
196,510
0
353,650
101,700
17,730
176,510
0
295,940
76,500
5,210
176,510
172,120
430,340
100,000
-56,600
43,400
100,000
-76,350
23,650
100,000
-18,460
81,540
597,480
622,180
1,050,230
34,350
Net sales
Cost of goods sold
Gross profit
Operating expenses
Wages and comissions
Rent
Provision for doubtful accounts
General Selling expenses
General Administratitve expenses
Amortization
Total operating expenses
Interest expense
Net Income (loss)
LIQUIDITY
Current ratio
Acid test
Working capital
EFFICIENCY
Age of receivables
Age of inventory
Age of payables
STABILITY
Net worth to total assets
EBIT
EBITDA
EBIT / interest
EBITDA / Interest
GROWTH
Sales
Net income
Total assets
Equity
Financial Ratios
(as at January 31)
2004
100.00%
69.26%
30.74%
2005
100.00%
73.24%
26.76%
19.74%
2.09%
0.72%
3.13%
8.22%
0.00%
33.90%
2.93%
15.87%
1.39%
0.00%
1.72%
6.55%
0.64%
26.17%
1.83%
14.81%
0.54%
0.00%
1.15%
6.43%
1.18%
24.11%
1.63%
-6.09%
-1.23%
2.80%
2.63
1.09
326,130
1.86
0.73
261,690
1.52
0.63
278,130
50
175
105
46
107
91
60
117
124
7.3%
-29,370
-29,370
3.8%
9,470
19,770
0.3
0.7
2005/04
7.8%
91,640
116,000
2.7
3.4
2006/05
72%
29%
4%
-46%
69%
245%
2.80%
1.80
0.60
52.4
3.6
2006
OPERATIONS
Net income
Adjustments to cash basis
Amortization
Accounts receivable net
Inventory
Prepaid expenses
Accounts payable
Other current liabilities
-19,750
57,890
10,300
-73,170
-33,100
0
106,100
-3,940
24,360
-137,020
-132,550
1,280
211,760
24000
-13,560
49,720
FINANCING ACTIVITIES
Bank Loan
Transport loan
Mortgage payable
CCB mortgage payable
-25,200
-12,510
-20,000
-25,200
-12,520
0
172,120
-57,710
134,400
INVESTING ACTIVITIES
Fixed assets
Deferred charges
0
2,720
-201,310
1,100
2,720
-200,210
-68,550
86,060
-16,090
17,510
17,510
1,420