The company's income structure is examine through the development of common size income statements for fiscal eld 1987 through 1989. These statements are presented in Table 1, which may be found beginning below on this page.
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Item 1987 1988 1989
cabbage gross revenue 96.4% 98.1% 98.5%
Interest income 1.1% 1.3% 1.3%
Other income 2.5% 0.6% 0.2%
Total revenues 100.0% 100.0% 100.0%
[table continued on following page]
[table continued from preceding page]
Item 1987 1988 1989
Cost of sales 57.5% 60.0% 61.
1%
Net income 8.9% 9.4% 9.3% ======== ======== ========
Federal income impose 8.0% 6.3% 5.9%
The Zero Corporation's interest coverage was calculated on the bum of the combination of (1) the interest due in fiscal year 1990 on the company's longterm debt, (2) the company's capital lease obligations in fiscal year 1990, and (3) the company's operating lease rental charges for fiscal year 1990. These charges are as follows:
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2. Current year tract of capital lease obligations: 0.2 million.
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