(Answered) Liquidity of Blackwood Company

Determine the liquidity position of Blackwood Company with the provided financial information.;1. Determine the liquidity position of Blackwood Company with the provided financial data;Blackwood Company;Balance Sheets as of December 31;(all numbers in thousands of US dollars);2007 2006 2005 2,004;Current assets;Cash $464 $1,012 $1,185;Marketable securities 1,548 394 299;Accounts receivable $15,098 $13,688 $8,875 $9,215;Less: Allowance for Doubtful Accounts 385 381 259 277;Accounts receivable, net 14,713 13,307 8,616;Inventory 7,425 8,585 7,699;Prepaid expenses 725 866 724;Total current assets: 24,875 24,164 18,523;Other assets;Plant and equipment 106,422 105,642 104,020 104,580;Less: Accumulated depreciation 47,604 49,761 47,949 45,790;Plant and equipment, net 58,818 55,881 56,071;Investments 9,476 9,433 10,474;Other assets 5,842 5,966 5,364;Total long-term assets 74,136 71,280 71,909;Total assets $99,011 $95,444 $90,432;Current liabilities;Accounts payable 14,090 12,309 11,520;Accrued payables 903 887 588;Short-term debt 2,500 1,000 -;Total current liabilities 17,493 14,196 12,108;Long-term notes payable 40,000 30,000 50,000;Total liabilities 57,493 44,196 62,108;Stockholders' equity;Common Stock (at par value) 52 52 52;Additional paid-in capital 1,116 1,116 1,116;Retained earnings 64,434 61,116 57,777;Less: Treasury stock (24,084) (11,036) (30,621);Total stockholders' equity 41,518 51,248 28,324;Total liabilities and stockholders' equity $99,011 $95,444 $90,432;Income Statements For the Years Ended December 31;(all numbers in thousands of US dollars);2,007 2,006 2,005 2,004;Sales $118,421 $110,994 $101,863 $106,456;Less: COGS 78,539 73,824 69,143 71,314;Gross margin 39,882 37,170 32,720 35,142;Less: Selling, general, and;administrative expenses 23,674 22,749 21,396 22,898;Operating income 16,208 14,421 11,324 12,244;Less: interest expense 2,791 1,757 3,068 2,833;Net income before income taxes 13,417 12,664 8,256 9,411;Less: income taxes 4,873 4,566 3,076 3,416;Net income $8,544 $8,098 $5,180 $5,995;Attachments;Liquidity - Copy.xlsx
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Liquidity of Blackwood Company

 


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