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Wednesday, March 30, 2005 7:21:12 PM
This is interesting because, as we can see, there is $1.9 Million in Operating Income (for Velvet Textile Mills year ended 12/31/2003). Therefore, the major part of the Net Loss of Consolidated, ($451,464), is due to the Discontinued Operations.
Consilidated Amounts to Consider:
CASH in Bank is about $8.3 Million
Accounts Receivable is $973,000
Inventory is $1,630,000
Fixed Assets, Net is about $8.6 Million
Total Current Assets = $11.1 Million
Total Current Liabilities = $8.1 Million
(Think about the Current Ratio= $11.1 Million/$8.1 Million, what's your opinion? I think Veltex is in Good Shape)
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