Huffman Trucking Case

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Huffman TruckingBalance Sheet | (Unaudited) | | | December 31st | | 2011 | 2010 | | (In Thousands) | | Assets | Current Assets | | Cash & Cash Equivalents | $89,664 | $58,003 | Accounts Receivable | 51,869 | 81,557 | Prepaid Expenses & Supplies | 6,267 | 5,529 | Total Current Assets | $147,800 | $145,089 | | Carrier Operating Property (at cost) | $85,306 | $81,461 | Less: Allowance for Depreciation | (69,536) | (67,119) | Net Carrier Operating Property | $15,770 | $14,342 | | Assets of Discontinued Operations | 7,516 | 8,739 | Goodwill (net) | 49,852 | 49,852 | Other Assets | 46,327 | 37,306 | Total Assets | $267,265 | $255,328 | | | Liabilities and Shareholders' Equity |…show more content…
2010 Current Asset = 145,089 2010 Current Liabilities = 89,435 2011 Current Ratio = 147,800 / 90,283 = 1.637 = 1.64:1 2010 Current Ratio = 145,089 / 89,435 = 1.622 = 1.62:1 Acid-test or quick ratio (Deduct the Prepaid expense & supplies from current asset) 2011 Current Asset is 147,800 minus 2011 Prepaid Expenses & Supplies is 6,267 = 141,533 2011 Current Liabilities = 90,283 2010 Current Asset is 145,089 minus 2010 Prepaid Expenses & Supplies is 5,529 = 139,560 2010 Current Liabilities = 89,435 2011 Acid-test or quick ratio = 141,533 / 90,283 = 1.56 = 1.6 2010 Acid-test or quick ratio = 139,560 / 89,435 = 1.56 = 1.6 Inventory turnover 2011 Revenue = 1,109,295 2011 Operating Income from Continuing Operations = $94,520 2010 Revenue = 969,240 2010 Operating Income from Continuing Operations = $89,199 2011 Inventory turnover = 1,109,295/94,520 = 11.74 2010 Inventory turnover = 969,240/89,199 = 10.87 Profitability Ratios Profit Margin 2010 Net Income= $55,508 2010 Total Operating Expenses= $880,041 2011 Net Income= $59,167 2011 Total Operating Expenses= $1,014,775 2010 Profit Margin = $55,508/$880,041= 6.3% 2011 Profit Margin = $59,167/$1,014,775= 5.8% Return on Stockholders’

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