Which company has the least efficient SG&A/Sales ratio? Select: 1Save Answer Andrews Digby Baldwin ChesterCash Flow Statement Survey Andrews Baldwin Chester DigbyCash flows from operating activities Net Income (Loss) $11,663 $840 $26,932 $3,269Adjustment for non-cash items: Depreciation $7,152 $17,509 $9,711 $15,533Extraordinary gains/losses/writeoffs $0 $0 $0 $0Changes in current assets and liabilities: Accounts payable ($2,655) $782 $1,859 ($1,096)Inventory $10,081 $4,218 ($2,799) $1,857Accounts receivable $1,853 ($3,370) ($3,494) ($151)Net cash from operations $28,093 $19,979 $32,209 $19,413Cash flows from investing activities Plant improvements (net) ($1,056) ($46,880) ($31,600) ($17,900)Cash flows from financing activities Dividends paid ($6,768) $0 ($2,202) $0Sales of common stock $1,200 $16,807 $0 $7,457Purchase of common stock $0 $0 ($1,979) $0Cash from long term debt issued $0 $22,204 $8,312 $2,785Early retirement of long term debt $0 $0 $0 $0Retirement of current debt ($11,300) ($33,110) ($27,970) ($41,872)Cash from current debt borrowing $2,000 $25,753 $20,416 $28,857Cash from emergency loan $0 $0 $0 $0Net cash from financing activities ($14,868) $31,655 ($3,423) ($2,773)Net change in cash position $12,169 $4,754 ($2,813) ($1,260)Balance Sheet Survey Andrews Baldwin Chester DigbyCash $51,425 $31,774 $33,278 $42,733Accounts Receivable $13,084 $14,423 $16,819 $12,361Inventory $3,657 $10,974 $17,534 $9,185Total Current Assets $68,166 $57,170 $67,631 $64,280Plant and equipment $107,274 $262,640 $145,660 $233,000Accumulated Depreciation ($65,525) ($87,709) ($58,601) ($92,976)Total Fixed Assets $41,749 $174,931 $87,059 $140,024Total Assets $109,915 $232,102 $154,690 $204,304Accounts Payable $7,975 $8,725 $10,445 $7,580Current Debt $2,000 $25,753 $20,416 $28,857Long Term Debt $15,909 $102,743 $33,678 $87,009Total Liabilities $25,884 $137,221 $64,538 $123,446Common Stock $25,280 $51,777 $10,334 $43,382Retained Earnings $58,751 $43,104 $79,818 $37,476Total Equity $84,031 $94,881 $90,151 $80,858Total Liabilities & Owners' Equity $109,915 $232,102 $154,690 $204,304Income Statement Survey Andrews Baldwin Chester DigbySales $159,186 $175,476 $204,637 $150,395Variable Costs (Labor, Material, Carry) $107,552 $111,685 $126,385 $95,179Depreciation $7,152 $17,509 $9,711 $15,533SGA (R&D, Promo, Sales, Admin) $18,591 $20,688 $13,324 $13,745Other (Fees, Writeoffs, TQM, Bonuses) $5,560 $7,951 $6,695 $6,012EBIT $20,331 $17,643 $48,522 $19,926Interest (Short term, Long term) $2,021 $16,325 $6,242 $14,795Taxes $6,408 $461 $14,798 $1,796Profit Sharing $238 $17 $550 $67Net Profit $11,663 $840 $26,932 $3,269Andrews Baldwin Chester DigbyROS 7.3% 0.5% 13.2% 2.2%Asset Turnover 1.45 0.76 1.32 0.74ROA 10.6% 0.4% 17.4% 1.6%Leverage (Assets/Equity) 1.3 2.4 1.7 2.5ROE 13.9% 0.9% 29.9% 4.0%Emergency Loan $0 $0 $0 $0Sales $159,185,539 $175,476,345 $204,636,904 $150,395,478EBIT $20,331,207 $17,643,254 $48,521,549 $19,926,428Profits $11,663,403 $839,811 $26,932,319 $3,268,566Cumulative Profit $21,415,847 $4,154,601 $51,835,143 $7,471,805SG&A / Sales 11.7% 11.8% 6.5% 9.1%Contrib. Margin % 32.4% 36.4% 38.2% 36.7%