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(Solution Download) From the French Instrument Corporation second-quarter report ended 2014, do a vertical analysis for


 

 

 

 

 

 

 

From the French Instrument Corporation second-quarter report

 

ended 2014, do a vertical analysis for the second quarter of 2014.

 

(Input all answers as positive values except other (income)

 

which should be indicated by a minus sign. Round

 

your answers to the nearest hundredth

 

percent.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES

 

Consolidated Statements of Operation

 

(Unaudited) (In thousands of dollars, except share

 

data)

 

SECOND QUARTER

 

 

2014

 

2013

 

    Percent of net

  Net sales$6,656

 

    

 

  $

6,909

 

   

 

    

  Cost of sales4,083

 

    

4,456

 

   

 

    

  Gross margin2,573

 

    

2,453

 

   

 

    

  Expenses:
  Selling, general and

 

administrative

1,839

 

    

1,777

 

   

 

    

  Product

 

development

169

 

    

159

 

   

 

    

  Interest

 

expense

92

 

    

117

 

   

 

    

  Other (income),

 

net

(178)

 

   

 

(105)   

 

    

  Total expenses1,922

 

   

1,948

 

   

 

    

  Income before income

 

taxes

651

 

   

505

 

   

 

    

  Provision for income

 

taxes

259

 

   

203

 

   

 

    

  Net income$392

 

   

 

  $

302

 

   

 

    

  Net income per

 

common share*

$0.05

 

   

 

  $

0.03

 

   

  Weighted average

 

number of common

 

     shares and equivalents

 

6,673,673   

 

6,624,184   

 

 

 

 

 

 

 

*Income per common

 

share reflects the deduction of the preferred stock dividend from

 

net income.

 

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