Finance Report for Huffman Trucking
By: Jaime Smith
FIN/486
Mary Orcutt
July 22, 2013
Huffman 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 Sheet
2006 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 Statement
2006 2005
Revenue | 879,944 | 807,288 |
Salaries Wages and Benefits | 353,739 | 330,597 |
Fuel Expense | 217,363 | 192,357 |
Operating Supplies and Expenses | 152,318 | 136,319 |
Purchased Transportation | 89,957 | 82,529 |
Operating Taxes and Licenses | 18,613 | 17,989 |
Insurance and Claims | 13,526 | 13,006 |
Provision for Depreciation | 2,726 | 2,738 |
Total Operating Expenses | 848,242 | 775,535 |
Operating Income... | ||
balance sheet in chinese
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