the following selected financial data excerpted from the annual report of appliance 626170
The following selected financial data excerpted from the annual report of Appliance Corporation represents the summary
information which management presented for interested parties to review: Appliance Corporation
Selected Financial Data (USD thousands except per share data)
2010 |
2009 |
2008 |
2007 |
2006 |
|
Net sales |
$3,049,524 |
33,72,515 |
$2,987,054 |
$3041223 |
$2,970,626 |
Cost of sales |
22,50,616 |
24,96,065 |
22,62,942 |
23,39,406 |
22,54,221 |
Income taxes |
74,800 |
90,200 |
38,600 |
15,900 |
44,400 |
Income (loss) from continuing |
14,996) |
1,51,137 |
51,270 |
-8,254 |
79,017 |
operations |
|||||
percent of income (loss) from |
|||||
continuing operations to net sales |
0.5%) |
4.50% |
1.70% |
-0.30% |
2.70% |
Income (loss) from continuing |
|||||
operations per share |
$ (0.14) |
1.42 |
0.48 |
-0.08 |
$ 0.75 |
Dividends paid per share |
0.515 |
0.5 |
0.5 |
0.5 |
0.5 |
Average shares outstanding (in |
|||||
thousands) |
1,07,062 |
1,06,795 |
1,06,252 |
1,06,077 |
1,05,761 |
Working capital |
$ 543,431 |
$ 595,703 |
$ 406,181 |
$452,626 |
$ 509,025 |
Depreciation of property, plant and |
|||||
equipment |
1,02,572 |
1,10,044 |
1,02,459 |
94,032 |
83,352 |
Additions to property, plant and |
|||||
equipment |
1,52,912 |
84,136 |
99,300 |
1,29,891 |
1,43,372 |
Total assets |
21,25,066 |
25,04,327 |
24,69,498 |
25,01,490 |
25,35,068 |
Long-term debt |
5,36,579 |
6,63,205 |
724,65 |
7,89,232 |
8,09,480 |
Total debt to capitalization |
45.90% |
50.70% |
60.00% |
58.70% |
45.90% |
Shareowners” equity per share of |
|||||
common stock |
$ 6.05 |
$ 6.82 |
$ 5.50 |
$ 9.50 |
a. As a creditor, what do you believe management”s objectives should be? Which of the preceding items of information would assist a creditor in judging management”s performance?
b. As an investor, what do you believe management”s objectives should be? Which of the preceding items of information would assist an investor in judging management”s performance?
c. What other information might be considered useful?