1. Absolute stability of financial position:

Working capital < Commodity-material stocks

This comparison suggests that inventories are not covered by the own working capital, i.e. the enterprise depends on external loans.

2. Normal stability of the financial situation:

Working capital + Long-term liabilities > Commodity-material stocks

This ratio indicates that a successful company uses to cover inventory and costs of different "normal" sources of funds: own and borrowed.

3. Unstable financial condition:

Commodity-material stocks < Working capital + Long-term liabilities

Working capital + Long-term liabilities + Short-term liabilities > Commodity-material stocks

This condition does not involve a violation of solvency.

4. Critical financial position is characterized by a situation where:

Commodity-material stocks < Working capital + Long-term liabilities + Current liabilities

This suggests that the company is not on the verge of bankruptcy.

The relative indicators system of financial stability of the enterprise at the beginning of the year:

1. The coefficient of independence shows the share of own funds.

2. The dependency ratio.

3. The ratio of borrowed and own funds gives the most General assessment of the company's financial stability.

The index growth dynamics testifies to strengthening of dependence of the enterprise on external investors and creditors, i.e. a reduction of financial stability, and Vice versa.

4. The coefficient of financial stability. Shows what part of the assets is financed from sustainable sources.

5. The flexibility ratio shows the percentage of equity used to Finance current activities, i.e. invested in working capital, and what portion capitalized. The value of this indicator may significantly vary depending on the capital structure and industry sector.

6. The ratio of stocks of own sources of funding.

7. The ratio of financing.

8. The ratio of accounts payable.

Table 5.

The calculation of relative indicators of enterprise’s financial stability.

Name of the coefficient	The value of the coefficient		The normative value	Deviation
	At the beginning of the year	At the end of the year
Кн	0,57	0,67	0,5-0,6	0,1
1	2	3	4	5
Кфу	0,62	0,89	0,8-0,9	0,27
Кф	1,32	2,065		0,745
Кз	0,43	0,32	0,4-0,5	-0,1

From the data provided above tables it is possible to draw conclusions about the state of each factor and on the company's financial stability on the whole.

1. The independence coefficient of «Редпрайс» LLP at the end of 2013 is 0.67, which exceeds the recommended norm, therefore, the enterprise has the own funds of more than borrowed and it says about its financial independence.

2. The flexibility ratio of own funds and the ratio of own funds at the beginning of 2013 was positive as the company had working capital

3. The coefficient of financial stability, since the beginning of 2013 gradually increased and by the end of the year amounted to 0.89, i.e. exceeded the norm of this ratio. Such a sharp increase has a positive effect on the financial position of the enterprise, because at the expense of stable sources 89 % of the company's assets.

After analyzing financial stability, one can conclude that the share of own capital on the sources of financing is more than 50 percent. Financing of the enterprise's assets for the account of own sources at beginning of year did not meet regulatory requirements by the end of the year the situation has stabilized. The enterprise is financially stable.

The management company is recommended to involve banks and investors, because it has no problems with financing its obligations and with the risk of insolvency.

A different side of the production, distribution, supply and financial activity of the enterprise receive a complete monetary value in the system of indicators of financial results. Generally the most important indicators of the financial results of the company are presented in the form №2 "Report on financial results of financial-economic activity ". These include:

- income (loss) from sales of products;

- income (loss) from secondary activities;

- the balance of the income;

- taxable income;

- net income and other.

The indicators of financial results characterize absolute efficiency of management of the enterprise. The most important among them are the indicators of income, which in conditions of transition to market economy is the basis of economic development of the enterprise. The yield growth creates a financial base for self-financing, expanded production, solution of problems of social and material needs of the workforce. At the expense of income are also part of the obligations of the enterprise to the budget, banks and other enterprises and organizations. Thus, the indicators of income become essential for the assessment of the production and financial activity. They characterize the degree of business activity and financial well-being.

Analysis of financial results of the company includes as mandatory elements of the study: 1. Changes each indicator for the current reporting period ("horizontal" analysis of indicators of financial results for the reporting period). 2. Investigation of the structure of appropriate indicators and their modifications ("vertical analysis" indicators). 3. Study of the influence of factors on income ("factor analysis"). 4. The study summarized dynamics of change of indicators of financial performance for a number of periods (that is, "trend analysis" indicators).

Table 7.

Indicators dynamics of profitability of the enterprise.

Indicators	Amount		Variation: increase(+), decrease(-)
	Last year	Reporting year	Absolute value	Relative value, %
1 Revenues from sold products 2 Gross profit 3 Operating profit 4 Profit (loss) before taxes 5 Profit (loss) after taxes 6 Net profit (loss)	10 428 044 2 751 417 4 445 813 1 608 161 1 654 591	10 081 219 4 152 995 4 267 181 4 669 452 4 397 896	-346 825 1 401 578 -178 632 3 061 291 2 743 305	-3,3 51 -4 200 166

In the indicators dynamics of profitability of the enterprise, there is a positive trend, despite a slight decrease of income from sales and operating profit.

Return on assets ratio:

RА. =	Net profit + interest payable	=	0,2
	Assets of the enterprise

The ratio of long-term assets profitablity

RL.А.. =	Net profit	=	0,24
	Long-term assets

The profitability ratio of short-term (current) assets

PC.А.. =	Net profit	=	0,6
	Short-term assets

Return of inventory ratio

Ri.=	Net profit	=	5,8
	The average annual cost of inventories

Return on equity (ROE):

ROE =	Net profit	=	0,25
	Owners equity

Profitability of permanent capital:

PPC=	Net profit	=	0,2
	Owners equity + Long-term liabilities

Return of borrowed capital

RBC =	Net profit	=0,52
	Borrowed capital

Cash flow:

Cash flow =	Net cash from operating activities	=0,97
	Net profit

NPM:

NPM =	Net profit	=0,44
	Revenue from sale of products

OIM:

OIM =	Income from operating activities	=-0,01
	Revenue from sale of products

Where:

Income from operating activities

=

Revenue from sales - cost of sales - - operating expenses

In conditions of market relations play a great role in the profitability of products, characterizing the level of profitableness (unprofitableness) of production. Profitability indicators are relative characteristics of financial results and performance of the enterprise. They characterize the relative profitability of the enterprise, measured in percent to the cost of funds or capital from various angles. Profitability is essential characteristics of the actual environment of formation of income of enterprises. For this reason, they are obligatory elements of comparative analysis and evaluation of financial condition of the company. In the analysis of production profitability indicators are used as a tool of investment and pricing policies. Main profitability indicators can be grouped into the following groups:

1. Product profitability, sales (indicators for assessing management effectiveness); 2. Profitability of production assets;

3. Profitability of investments in enterprises (the profitability of economic activities).

The profitability of products shows how much income falls in unit sales. This growth is the result of price growth at constant production cost of sold products (works, services) or reducing production costs at constant prices, i.e. a decrease in demand for the company's products, as well as a faster growth rate than costs.

Profitability of products includes the following indicators:

1. Profitability of the sold products, representing a ratio of income from sales of products profit from its implementation (without VAT);

2. Overall profitability, equal to the ratio of the balance of income net income from product sales (without VAT);

3. Profitability of sales net income, defined as the ratio of income to net revenue from sales (without VAT);

4. The profitability of individual products. The ratio of income from the sale of this product to its sale price.

Table 8.

The relative indicators of profitability (return) of enterprise’s activity.

Indicator	Value
Return on assets	0,2
The ratio of long-term assets profitability	0,24
The ratio of short-term assets profitability	0,6
The ratio of production reserves profitability	5,8
The ratio of sold products profitability	0,44
ROE	0,25
The ratio of permanent capital profitability	0,2
Return of borrowed capital	0,52

On the basis of calculations you can make the following conclusions: All profitability, despite the positive trend, show that in the reporting period, the company operated at a loss.

The index of profitability of the sold products can judge about the increase in 2 times, having reached the level of profitability of products (works, services) and becoming profitable. The above indicators depending on many factors and varies substantially by trade enterprises of different profile, size, structure of assets and sources of funds.In General, all income and profitability in the reporting year had a positive dynamics, which testifies to the successful activity of «Редпрайс» LLP in 2013.