The Portable MBA in Finance and Accounting, 3rd Edition

600

EXHIBIT 18.1 ACME Manufacturing Inc.: Summa

ry of condensed balance sheets 1996 –2000.

($million)

Growth R

ates

2000

1999

1998

1997

1996

1996–2000

1999–2000

AssetsCurrent assets

$11.69 $11.56 $12.37 $ 9.43 $ 9.17

6.3%

1.1%

Fixed assets, net

13.87

10.36

9.37

7.65

6.79

19.5

33.9

Other assets

3.17 3.00 3.25 1.12 0.62

50.4

5.5

Total assets

$28.72

$24.92

$24.98

$18.20

$16.58

14.7%

15.3%

Liabilities and EquityCurrent liabilities

$11.50 $ 6.41 $ 8.78 $ 4.34 $ 4.94

23.5%

79.4%

Long-term liabilities

5.83 7.26 7.78 4.85 4.96

4.1

−19.7

Total liabilities

17.33 13.67 16.56 9.19 9.90

15.0

26.8%

Equity

11.39 11.25 8.42 9.01 6.69

14.2

1.3

Total liabilities and equity

$28.72

$24.92

$24.98

$18.20

$16.58

14.7%

15.3%

Common Size

2000

1999

1998

1997

1996

AssetsCurrent assets

40.7%

46.4%

49.5%

51.8%

55.3%

Fixed assets, net

48.3

41.6

37.5

42.0

41.0

Other assets

11.0

12.0

13.0

6.1

3.7

Total assets

100.0%

100.0%

100.0%

100.0%

100.0%

Liabilities and EquityCurrent liabilities

40.1%

25.7%

35.1%

23.9%

29.8%

Long-term liabilities

20.3

29.1

31.2

26.6

29.9

Total liabilities

60.3

54.9

66.3

50.5

59.7

Equity

39.7

45.1

33.7

49.5

40.3

Total liabilities and equity

100.0%

100.0%

100.0%

100.0%

100.0%