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SpreadsheetJoynerLumber_Group3.xls
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OBJ

Objective Analysis of JLC
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ID Number

BS

Balance Sheet
Company Name: Joyner Lumber Company, Inc.
Amounts In: ($)
Period:
Statement Type: Forecast
Date: 12/31/87 12/31/88 12/31/89 12/31/90 4/30/91 12/31/91
ASSETS
Cash & Cash Equivalents 207,923 405,830 196,297 75,529 71,538
Marketable Securities
Accounts Receivable, net 320,709 314,290 416,865 583,840 621,584
Inventories 279,651 288,366 295,886 295,886 318,967
Other Accounts and Notes Receivable 18,950 11,653 257,303 40,062 44,645
Prepaid Expenses - 0 5,664 7,913 1,137 13,673
Other Current Assets 44,550 18,115 - 0 25,713 26,003
Total Current Assets 871,783 1,043,918 1,174,264 1,022,167 1,096,410 - 0
Net Fixed Assets 310,749 346,380 293,746 274,126 277,313
Investments 112,101 63,544 59,932 409,998 409,997
Intangibles
Other Assets 91,000 - 0 130 6,628 6,628
Total Assets 1,385,633 1,453,842 1,528,072 1,712,919 1,790,348 - 0
LIABILITIES & STOCKHOLDERS' EQUITY
Accounts Payable 161,719 145,599 210,643 242,191 205,835
Notes Payable - Banks 50,689 50,483 39,086 70,550 90,477
Current Maturities of Long Term Debt
Accrued Liabilities 57,656 52,257 36,206 17,272 29,366
Other Current Liabilities 115,673 134,507 147,068 1,251 24,562
Total Current Liabilities 385,737 382,846 433,003 331,264 350,240 - 0
Deferred Federal Income Taxes
Long-Term Debt
Subordinated Debt
Total Liabilities 385,737 382,846 433,003 331,264 350,240 - 0
Common Stock 11,266 11,266 11,266 11,266 11,266
Additional paid-in capital 161,239 161,239 161,239 161,239 161,239
Retained Earnings 827,391 907,343 951,153 1,237,739 1,305,436
Treasury Stock - 0 (8,852) (28,589) (28,589) (37,833)
- 0 - 0 - 0 - 0
Total Stockholders' Equity 999,896 1,070,996 1,095,069 1,381,655 1,440,108 - 0
Total Liabilities & Stockholders' Equity 1,385,633 1,453,842 1,528,072 1,712,919 1,790,348 - 0

IS

Statements of Earnings and Retained Earnings
Company Name: Joyner Lumber Company, Inc.
Amounts In: ($)
Period: YTD Forecast
Statement Type: 12 Mos 12 Mos 12 Mos 12 Mos 4 Mos 12 Mos
Date: 12/31/87 12/31/88 12/31/89 12/31/90 4/30/91 12/31/91
Total Sales - Revenues 2,832,803 3,148,875 3,403,999 3,283,010 1,345,370
Cost of Goods Sold 2,017,963 2,259,277 2,409,538 2,336,793 982,107
Gross Profit 814,840 889,598 994,461 946,217 363,263 - 0
Gen & Adm Expenses 195,604 279,222 338,538 329,926 114,542
Salaries and Wages 253,698 349,418 407,413 360,908 152,541
Lease Payments
Officers' Salaries 197,111 220,200 166,400 152,874 44,617
Bad Debt Expense
Depreciation and amortization 72,131 63,220 64,867 82,811 29,058
Repairs and maintenance
Net Operating Income (Profit) 96,296 (22,462) 17,243 19,698 22,505 - 0
Interest Income
Interest Expense 3,055 3,039 3,627 4,644 1,713
Other Income 34,895 27,649 57,793 93,070 57,005
Gain on Sale of Assets - 0 101,238 - 0 238,645 - 0
Net Income Before Taxes 128,136 103,386 71,409 346,769 77,797 - 0
Income Taxes 37,332 23,434 27,599 60,183 10,100
Net Income Before Extra Items 90,804 79,952 43,810 286,586 67,697 - 0
Extraordinary Income
Extraordinary Charges
Net Income (Loss) 90,804 79,952 43,810 286,586 67,697 - 0
Beginning Retained Earnings 736,587 827,391 907,343 951,153 1,237,739 1,237,739
Net Profit 90,804 79,952 43,810 286,586 67,697 - 0
Cash Dividends
Other Deductions
Other Additions
Ending Retained Earnings 827,391 907,343 951,153 1,237,739 1,305,436 1,237,739

CF

Statement of Cash Flow
Company Name: Joyner Lumber Company, Inc.
Amounts In: ($)
Period: YTD Forecast
Statement Type: 12 Mos 12 Mos 12 Mos 4 Mos 12 Mos
Date: 32142 12/31/88 12/31/89 12/31/90 4/30/91 12/31/91
Cash Flows from Operations
Net Income 79,952 43,810 286,586 67,697 - 0
Noncash revenue and expense included in net income
Depreciation and amortization 63,220 64,867 82,811 29,058 - 0
Change in Deferred Income Taxes - 0 - 0 - 0 - 0 - 0
Cash provided (used) by current assets and liabilities
Change in Accounts Receivable 6,419 (102,575) (166,975) (37,744) 583,840
Change in Other Accounts and Notes Receivable 7,297 (245,650) 217,241 (4,583) 40,062
Change in Inventory (8,715) (7,520) - 0 (23,081) 295,886
Change in Prepaid Expenses (5,664) (2,249) 6,776 (12,536) 1,137
Change in Other Current Assets 26,435 18,115 (25,713) (290) 25,713
Change in Accounts Payable (16,120) 65,044 31,548 (36,356) (242,191)
Change in Accrued Liabilities (5,399) (16,051) (18,934) 12,094 (17,272)
Change in Other Current Liabilities 18,834 12,561 (145,817) 23,311 (1,251)
Total Cash Flows from Operations - 0 166,259 (169,648) 267,523 17,570 685,924
Cash Flows from Investing
Change in Fixed Assets (98,851) (12,233) (63,191) (32,245) 274,126
Change in Investmet Securities 48,557 3,612 (350,066) 1 409,998
Change in Other Investing Activities 91,000 (130) (6,498) - 0 6,628
Total Cash Flows from Investing - 0 40,706 (8,751) (419,755) (32,244) 690,752
Cash Flows from Financing
Change in Short-term Borrowings (206) (11,397) 31,464 19,927 (70,550)
Change in Long-term Borrowings - 0 - 0 - 0 - 0 - 0
Cash Dividends Paid - 0 - 0 - 0 - 0 - 0
Change in Treasury Stock (8,852) (19,737) - 0 (9,244) 28,589
Change in Common Stock - 0 - 0 - 0 - 0 (172,505)
Total Cash Flows from Financing - 0 (9,058) (31,134) 31,464 10,683 (214,466)
Net Change in Cash and Marketable Securities - 0 197,907 (209,533) (120,768) (3,991) 1,162,210

CSBS

Common Size Balance Sheet
Company Name: Joyner Lumber Company, Inc.
Amounts In: ($)
Period:
Statement Type: Forecast
Date: 12/31/87 12/31/88 12/31/89 12/31/90 4/30/91 12/31/91
ASSETS
Cash & Cash Equivalents 15.0 27.9 12.8 4.4 4.0 - 0
Marketable Securities - 0 - 0 - 0 - 0 - 0 - 0
Accounts Receivable, net 23.1 21.6 27.3 34.1 34.7 - 0
Inventories 20.2 19.8 19.4 17.3 17.8 - 0
Other Accounts and Notes Receivable 1.4 0.8 16.8 2.3 2.5 - 0
Prepaid Expenses - 0 0.4 0.5 0.1 0.8 - 0
Other Current Assets 3.2 1.2 - 0 1.5 1.5 - 0
Total Current Assets 62.9 71.8 76.8 59.7 61.2 - 0
Net Fixed Assets 22.4 23.8 19.2 16.0 15.5 - 0
Investments 8.1 4.4 3.9 23.9 22.9 - 0
Intangibles - 0 - 0 - 0 - 0 - 0 - 0
- 0 - 0 - 0 - 0 - 0 - 0
- 0 - 0 - 0 - 0 - 0 - 0
- 0 - 0 - 0 - 0 - 0 - 0
Other Assets 6.6 - 0 0.0 0.4 0.4 - 0
Total Assets 100.0 100.0 100.0 100.0 100.0 - 0
LIABILITIES & STOCKHOLDERS' EQUITY
Accounts Payable 11.7 10.0 13.8 14.1 11.5 - 0
Notes Payable - Banks 3.7 3.5 2.6 4.1 5.1 - 0
Current Maturities of Long Term Debt - 0 - 0 - 0 - 0 - 0 - 0
Accrued Liabilities 4.2 3.6 2.4 1.0 1.6 - 0
- 0 - 0 - 0 - 0 - 0 - 0
- 0 - 0 - 0 - 0 - 0 - 0
Other Current Liabilities 8.3 9.3 9.6 0.1 1.4 - 0
Total Current Liabilities 27.8 26.3 28.3 19.3 19.6 - 0
Deferred Federal Income Taxes - 0 - 0 - 0 - 0 - 0 - 0
Long-Term Debt - 0 - 0 - 0 - 0 - 0 - 0
Subordinated Debt - 0 - 0 - 0 - 0 - 0 - 0
- 0 - 0 - 0 - 0 - 0 - 0
Total Liabilities 27.8 26.3 28.3 19.3 19.6 - 0
Common Stock 0.8 0.8 0.7 0.7 0.6 - 0
Additional paid-in capital 11.6 11.1 10.6 9.4 9.0 - 0
Retained Earnings 59.7 62.4 62.2 72.3 72.9 - 0
Treasury Stock - 0 (0.6) (1.9) (1.7) (2.1) - 0
- 0 - 0 - 0 - 0 - 0 - 0
Total Stockholders' Equity 72.2 73.7 71.7 80.7 80.4 - 0
Total Liabilities & Stockholders' Equity 100.0 100.0 100.0 100.0 100.0 - 0

CSIS

Common Size Income Statement
Company Name: Joyner Lumber Company, Inc.
Amounts In: ($)
Period: Forecast
Statement Type: YTD 12 Mos
Date: 12/31/87 12/31/88 12/31/89 12/31/90 4/30/91 12/31/91
Total Sales - Revenues 100.0 100.0 100.0 100.0 100.0 - 0
Cost of Goods Sold 71.2 71.7 70.8 71.2 73.0 - 0
Gross Profit 28.8 28.3 29.2 28.8 27.0 - 0
Gen & Adm Expenses 6.9 8.9 9.9 10.0 8.5 - 0
Salaries and Wages 9.0 11.1 12.0 11.0 11.3 - 0
Lease Payments - 0 - 0 - 0 - 0 - 0 - 0
Officers' Salaries 7.0 7.0 4.9 4.7 3.3 - 0
Bad Debt Expense - 0 - 0 - 0 - 0 - 0 - 0
Depreciation and amortization 2.5 2.0 1.9 2.5 2.2 - 0
Repairs and maintenance - 0 - 0 - 0 - 0 - 0 - 0
- 0 - 0 - 0 - 0 - 0 - 0
Net Operating Income (Profit) 3.4 (0.7) 0.5 0.6 1.7 - 0
Interest Income - 0 - 0 - 0 - 0 - 0 - 0
Interest Expense 0.1 0.1 0.1 0.1 0.1 - 0
Other Income 1.2 0.9 1.7 2.8 4.2 - 0
Gain on Sale of Assets - 0 3.2 - 0 7.3 - 0 - 0
Net Income Before Taxes 4.5 (3.1) 2.1 (4.0) 5.8 - 0
Income Taxes 1.3 0.7 0.8 1.8 0.8 - 0
Net Income Before Extra Items 3.2 (3.9) 1.3 (5.8) 5.0 - 0
Extraordinary Income - 0 - 0 - 0 - 0 - 0 - 0
Extraordinary Charges - 0 - 0 - 0 - 0 - 0 - 0
Net Income (Loss) 3.2 (3.9) 1.3 (5.8) 5.0 - 0

FR

Financial Ratios - Trends and Comparisons with Industry
Company Name: Joyner Lumber Company, Inc.
Amounts In: ($ in Summary) Comparison
Period: of Company
Statement Type: Forecast RMA Ratios to the
Date: 12/31/87 12/31/88 12/31/89 12/31/90 4/30/91 12/31/91 Trend Norm RMA Norms
Financial Summary
Current Assets 871,783 1,043,918 1,174,264 1,022,167 1,096,410
Current Liabilities 385,737 382,846 433,003 331,264 350,240
Total Assets 1,385,633 1,453,842 1,528,072 1,712,919 1,790,348
Total Liabilities 385,737 382,846 433,003 331,264 350,240
Total Net Worth 999,896 1,070,996 1,095,069 1,381,655 1,440,108
Net Working Capital 486,046 661,072 741,261 690,903 746,170
Working Assets 600,360 602,656 712,751 879,726 940,551
Working Liabilities 219,375 197,856 246,849 259,463 235,201
Working Investment 380,985 404,800 465,902 620,263 705,350
Long Term Debt - 0 - 0 - 0 - 0 - 0
Tangible Net Worth 999,896 1,070,996 1,095,069 1,381,655 1,440,108
Average Annual Long-term Debt Maturities
Current Maturities of LTD - 0 - 0 - 0 - 0 - 0
Operating Cash Flow 166,259 (169,648) 267,523 17,570 685,924
Net Sales 2,832,803 3,148,875 3,403,999 3,283,010 1,345,370
Net Income 90,804 79,952 43,810 286,586 67,697
Liquidity/Activity Ratios
Current Ratio (x) 2.26 2.73 2.71 3.09 3.13
Quick Ratio (x) 1.54 1.97 2.03 2.19 2.22
Cash Flow Liquidity Ratio (x) 0.97 0.62 1.07 0.28 2.16
Sales/Working Capital (x) 5.83 4.76 4.59 4.75 1.80
Accounts Receivable (x) 8.83 10.02 8.17 5.62 2.16
Accounts Receivable (Days) 41.32 36.43 44.70 64.91 168.64
Inventory Turnover vs COGS (x) 7.22 7.83 8.14 7.90 3.08
Inventory Turnover vs Aver Sales (Days) 36 33 32 33 87
Accounts Payable vs COGS (Days) 29 24 32 38 76
Accounts Payable vs Aver Sales (Days) 21 17 23 27 56
Cash Conversion Cycle (Days) 24 27 17 12 33
Leverage Ratios
Debt Ratio (%) 27.8% 26.3% 28.3% 19.3% 19.6%
Long-term Debt to Total Capitalization (%) 0.00% 0.00% 0.00% 0.00% 0.00%
Debt to Worth (x) 0.39 0.36 0.40 0.24 0.24
Debt to Tangible Net Worth (x) 0.39 0.36 0.40 0.24 0.24
(Net Profit+Depr/Depl/Amort)/CMLTD (x) 0.00 0.00 0.00 0.00 0.00
Times Interest Earned (x) 31.5 -7.4 4.8 4.2 13.1
Fixed Charge Coverage (x) 99351.0 -19423.0 20870.0 24342.0 24218.0
Cash Flow Adequacy (x) 0.0 0.0 0.0 0.0 0.0
Performance Ratios
Fixed Asset Turnover (x) 9.12 9.09 11.59 11.98 4.85
Total Asset Turnover (x) 2.04 2.17 2.23 1.92 0.75
Gross Profit Margin (%) 28.76% 28.25% 29.21% 28.82% 27.00%
Operating Profit Margin (%) 3.40% -0.71% 0.51% 0.60% 1.67%
Net Profit Margin (%) 3.21% 2.54% 1.29% 8.73% 5.03%
Cash Flow Margin (%) 5.87% -5.39% 7.86% 0.54% 50.98%
Profit Before Taxes/Total Assets (%) 9.25% 7.11% 4.67% 20.24% 4.35%
Return on Assets (%) 6.55% 5.50% 2.87% 16.73% 3.78%
Return on Equity (%) 9.08% 7.47% 4.00% 20.74% 4.70%
Cash Return on Assets (%) 12.00% -11.67% 17.51% 1.03% 38.31%
Sales Growth (%) 11.16% 8.10% -3.55% -59.02%
Earnings Growth (%) -11.95% -45.20% 554.16% -76.38%
Total Asset Growth (%) 4.92% 5.11% 12.10% 4.52%