Income Statement for the Year Ending December 31
(Millions of Dollars Except for Per Share Data)
Actual Projected 2010 2011
Net sales $500.0 $530.0
Costs (except depreciation) 360.0 381.6
Depreciation 37.5 39.8 Total Operating Costs $397.5 $421.4
EBIT $102.5 $108.6 Less Interest 13.9 16.0
Earnings before Taxes $ 88.6 $ 92.6 Taxes (40%) 35.4 37.0
Net Income before preferred dividends $ 53.2 $ 55.6 Preferred dividends 6.0 7.4
Net income available for common dividends $ 47.2 $ 48.2
Common Dividends $ 40.8 $ 29.7
Addition to retained earnings $ 6.4 $ 18.5
Number of Shares 10 10
Dividends per share $ 4.08 $ 2.97
Balance Sheet for December 31 (Millions of Dollars) Actual Projected
Assets 2010 2011
Cash $ 5.3 $ 5.6
Marketable Securities 49.9 51.9
Accounts Receivables 53.0 56.2
Inventories 106.0 112.4 Total Current Assets $214.2 $226.1
Net Plant and Equipment 375.0 397.5
Total Assets $589.2 $623.6
Liabilities and Equity
Accounts Payable $ 9.6 $ 11.2
Notes Payable 69.9 74.1
Accruals 27.5 28.1 Total current liabilities $107.0 $113.4
Long term bonds 140.8 148.2
Preferred stock 35.0 37.1
Common Stock (par plus PIC) 160.0 160.0
Retained earnings 146.4 164.9 Common Equity $306.4 $324.9
Total Liabilities and equity $589.2 $623.6