Ratio analysis for johnson inc.

Financial Statement Analysis
The Financial Statements for Johnson Inc. for the year ended December 31, 2009, follow.
Johnson Inc Johnson Inc
Income Statement Balance Sheet
For the year ended December 31, 2009 For year ended December 31, 2009

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Sales Revenue $160,000 Assets
Less: Cost of goods sold 106,000 Cash $ 500
Gross profits $ 54,000 Marketable Securities 1,000
Less: Operating Expenses Accounts Receivable 25,000
Selling Expenses $ 16,000 Inventories 45,500
General and Admin 10,000 Total Current Assets $ 72,000
Lease Expense 1,000 Land $ 26,000
Depreciation 10,000 Buildings & Equip 90,000
Total Operating Expense $ 37,000 Less : Accumulated Depreciation 38,000
Operating Profits $ 17,000 Net Fixed Assets $ 78,000
Less: Interest Expense 6,100 Total Assets $ 150,000
Net Profits before Taxes $10,900
Less: Taxes 4,360 Liabilities and Stockholders’ Equity
Net profit after taxes $ 6,540 Accounts Payable $ 22,000
Notes Payable 47,000
Total Current Liabilities $ 69,000
Long Term Debt $ 22,950
Common Stock $ 31,500
Retained Earnings $ 26,550
Total Liabilities and Equity $ 150,000

Use the preceding financial information to complete the following table. Assume the industry averages given in the table are applicable for both 2008 and 2009.
Ratio Industry Avg Actual 2008 Actual 2009
Current Ratio 1.80 1.84
Quick Ratio .70 .78
Inventory turnover 2.50 2.59
Average collection period 37.5 days 36.5 days
Debt Ratio 65% 67%
Gross Profit margin 38% 40%
Net profit margin 3.5% 3.6%
Return on total assets 4.0% 4.0%

A. Calculate the above ratios for 2009 and comment on how they relate to the actual ratios for 2008 and the industry average.

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