CLOVER CORPORATION
Comparative Balance Sheets
December 31,
Common-size Percents*
2003
2002
2003
2002
Liabilities and Shareholders'
Equity
Current liabilities:
Accounts payable
$
67,000
Notes payable
Total current liabilities
$
44,000
21.3%
15.2%
6,000
1.0%
2.1%
50,000
22.2%
17.3%
80,000
23.8%
27.6%
3,000
$
70,000
$
Long-term liabilities:
Bonds payable, 8%
Total liabilities
75,000
$ 145,000
$ 130,000
46.0%
44.9%
Preferred stock
20,000
20,000
6.3%
6.9%
Common stock
60,000
60,000
19.0%
20.7%
Additional paid-in capital
10,000
10,000
3.2%
3.5%
90,000
28.6%
31.1%
69,700
25.4%
24.1%
Shareholders' equity:
Total paid-in capital
Retained earnings
Total shareholders' equity
Total liabilities and
shareholders' equity
* Percent rounded to first
decimal point.
$
90,000
80,000
$
$ 170,000
$ 159,700
54.0%
55.1%
$ 315,000
$ 289,700
100.0%
100.0%
CLOVER CORPORATION
Comparative Income Statements
For the Years Ended December 31,
Common-size
Percents*
2003
2002
2003
$
520,000
2002
$
480,000
100.0%
100.0%
Cost of sales
360,000
315,000
69.2%
65.6%
Selling and admin.
128,600
126,000
24.7%
26.3%
Interest expense
6,400
$
25,000
7,000
$
32,000
1.2%
1.5%
4.8%
6.7%
7,500
$
17,500
$
0.79
9,600
$
22,400
$
1.01
1.4%
2.0%
3.4%
4.7%
Avg. # common shares 22,200
* Rounded to first decimal point.
22,200
Revenues
Costs and expenses:
Income before taxes
Income taxes (30%)
Net income
Net income per share