Tias Trampolines Inc.
Comparative Balance Sheet Information
November 30
(millions of $)
2020. 2019. 2018
Cash $209 $597 $622
Accounts receivable (net). 284 321 140
Plant and equipment (net). 1,450 1,570 1,866
Accounts payable 64 140 256
Long-term notes payable. 969 1,289 1,449
Preferred shares 169 169 169
Common shares 649 649 649
Retained earnings 92 241 105
The preferred shares are $0.50, non-cumulative 80 million preferred and 320 million common shares were issued and outstanding during each year.
Tias Trampolines Inc.
Income Statement
For Year Ended November 30
(millions of $)
2020 2019 2018
Net sales $ 4,100 $ 6,420 $ 6,740
Cost of goods sold 2,789 4,413 4,637
Gross profit $ 1,311 $ 2,007 $ 2,103
Operating expenses:
Depreciation expense $ 314 $ 314 $ 314
Other expenses 410 1,266 1,462
Total operating expenses 724 1,580 1,776
Profit from operations $ 587 $ 427 $ 327
Interest expense 76 95 105
Income tax expense 165 117 82
Profit $ 346 $ 215 $ 140
Required:
Calculate Tias Trampolines Inc.'s profitability ratios for 2020. Also identify whether each of Tias Trampolines Inc's profitability ratios compares favourably or unfavourably to the industry average. (Round the final answer to 2 decimal places. Input all positive values.)
2020 2019 2018 F/U Net sales Accounts receivable Cost of goods sold Accounts payable % % % % % % % % % % % %
