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Finance Report For Huffman Trucking

458 words - 2 pages

Finance Report for Huffman TruckingBy: Jaime SmithFIN/486Mary OrcuttJuly 22, 2013Huffman Trucking is like any other company. They are looking to grow and develop for the convenience of their customers. Huffman Trucking has already purchased more building to expand their business. The company is steadily growing and looking to expand more in the future. The company needs to know if this is the right move for the company as a whole and if they are financially stable enough to withstand another big purchase. The current balance sheets and statement of income will show the numbers to make the decision.Huffman Trucking Balance Sheet2006 2005(In Thousands)
Current Assets

Cash and Cash Equivalents

51,933

38,893

Accounts Receivable

56,292

57,441

Prepaid Expenses and Supplies

3,443

3,343

Total Current Assets

111,728

99,677

Carrier Operating Property

73,024

70,957

Less: Allowance for Depreciation

(57,536)

(55,477)

Net Carrier Operating Property

15,488

15,480

Assets of Discontinued Operations

16,192

18,891

Goodwill (net)

57,767

53,977

Other Assets

26,613

24,194

Total Assets

227,788

212,219

Liabilities and Shareholders' Equity

Current Liabilities

Accounts Payable

47,124

39,936

Salaries and Wages

29,753

27,048

Current Portion of Long-Term Debt

2,204

2,514

Freight and Casualty Claims Payable

9,746

8,941

Total Current Liabilities

88,827

78,439

Long-Term Liabilities

Accrued Pension and Post-Retirement Health Care

58,362

52,721

Long-Term Debt

13,431

15,318

Total Long-Term Liabilities

71,793

68,039

Shareholders' Equity

Common Stock

3.882

3.882

Treasury Shares

(1.952)

(1.952)

Retained Earnings

67,166

65,739

Total Shareholders' Equity

67,168

65,741

Total Liabilities and Shareholders' Equity

227,788

212,219

Huffman Trucking Income Statement2006 2005
Revenue

879,944

807,288

Salaries Wages and Benefits

353,739

330,597

Fuel Expense

217,363

192,357

Operating Supplies...

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