Finance Report for Huffman Trucking

Finance Report for Huffman Trucking 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 AssetsCash and Cash Equivalents51,93338,893Accounts Receivable56,29257,441Prepaid Expenses and Supplies3,4433,343Total Current Assets111,72899,677Carrier Operating Property73,02470,957Less: Allowance for Depreciation(57,536)(55,477)Net Carrier Operating Property15,48815,480Assets of Discontinued Operations16,19218,891Goodwill (net )57,76753,977Other Assets26,61324,194Total Assets227,788212,219Liabilities and Shareholders' EquityCurrent LiabilitiesAccounts Payable47,12439,936Salaries and Wages29,75327,048Current Portion of Long-Term Debt2,2042,514Freight and Casualty Claims Payable9,7468,941Total Current Liabilities88,82778,439Long-Term LiabilitiesAccrued Pension and Post-Retirement Health Care58,36252,721Long-Term Debt13,43115,318Total Long-Term Liabilities71,79368,039Shareholders' EquityCommon Stock3.8823.882Treasury Shares(1.952)(1.952)Retained Earnings67,16665,739Total Shareholders' Equity67,16865,741Total Liabilities and Shareholders' Equity227,788212,219Huffman Trucking Income Statement2006 2005Revenue879,944807,288Salaries Wages and Benefits353,739330,597Fuel Expense217,363192,357Operating Supplies and Expenses152,318136,319Purchased Transportation89,95782,529Operating Taxes and Licenses18,61317,989Insurance and Claims13,52613,006Provision for Depreciation2,7262,738Total Operating Expenses848,242775,535 Operating Income...English: Liabilities of the United States as a fra...