a. Current ratio b. Quick ratio c. Profit margin %

Question

California Pizza Kitchen opened its first restaurant In Beverly Hills in 1985. Almost immediately after the first location opened, it expanded from California to more than 250 locations in more than 30 states and 11 countries. California Pizza Kitchen completed an initial public offering in August 2000 and traded on the NASDAQ National Market under the ticker symbol CPKI. On July 7, 2011, Golden Gate Capital completed the acquisition of California Pizza Kitchen and, as a result of the acquisition, the company’s common stock is no longer publicly traded.

CALIFORNIA PIZZA KITCHEN, INC., AND SUBSIDIARIES Consolidated Statements of Operations Years ended January 2, 2011, January 3, 2010, and December 28, 2008 (amounts in thousands, except for per share data)
		2010		2009		2008
	Revenues:
	Restaurant sales	$	648,201		$	669,270	$	691,711
	Royalties from licensing agreement		6,972			8,589		7,430
	Domestic franchise revenues		4,205			3,789		3,862
	International franchise revenues		2,658			2,333		2,376

	Total revenues		662,036			683,981		705,379
	Costs and expenses:
	Food, beverage and paper supplies		151,367			156,816		168,161
	Labor		243,338			250,155		250,081
	Direct operating and occupancy		151,770			144,557		142,951

	Cost of sales		546,475			551,528		561,193
	General and administrative		54,556			54,616		55,467
	Depreciation and amortization		39,641			42,816		42,934
	Pre-opening costs		3,524			2,098		4,733
	Loss on impairment of property and equipment		19,164			23,366		13,761
	Store closure costs		1,980			811		1,305
	Litigation, settlement and other costs		8,844			1,694		821

	Total costs and expenses		674,184			676,929		680,214

	Operating (loss)/income		(12,148)			7,052		25,165
	Interest expense, net		(19)			(1,043)		(1,579)

	(Loss)/income before income tax (benefit)/provision		(12,167)			6,009		23,586
	Income tax (benefit)/provision		(11,354)			(2,312)		5,189

	Net (loss)/income	$	(813)		$	8,321	$	18,397

	Net (loss)/income per common share:
	Basic	$	(0.03)		$	0.32	$	0.46

	Diluted	$	(0.03)		$	0.32	$	0.46

	Weighted average shares used in calculating net (loss)/income per common share:
	Basic		24.743			24.319		25.448

	Diluted		24.743			24.398		25.466

CALIFORNIA PIZZA KITCHEN, INC., AND SUBSIDIARIES Consolidated Balance Sheets January 2, 2011, and January 3 2010 (in thousands, except for share data)
			2010		2009
	Assets
	Current assets:
	Cash and cash equivalents	$	55,230	$	55,424
	Other receivables		23,399		24,346
	Inventories		10,002		9,552
	Current deferred tax asset, net		10,350		9,201
	Prepaid rent		686		8,952
	Other prepaid expenses		10,253		4,666

	Total current assets		109,920		112,141
	Property and equipment, net		301,881		304,451
	Noncurrent deferred tax asset, net		24,413		27,323
	Goodwill		8,617		8,617
	Other intangibles, net		7,489		7,366
	Other assets		10,608		9,204

	Total assets	$	462,928	$	469,102

	Liabilities and stockholders’ equity
	Current liabilities:
	Accounts payable	$	28,380	$	15,768
	Accrued compensation and benefits		26,095		26,023
	Accrued rent		29,536		23,299
	Deferred rent credits		8,323		7,910
	Other accrued liabilities		44,290		41,515
	Gift card liability		27,127		31,690
	Store closure reserve		88		1,261

	Total current liabilities		163,839		147,466

	Long-term debt		---		24,000
	Other liabilities		25,304		18,695
	Deferred rent credits, net of current portion		38,663		37,964
	Income taxes payable, net of current portion		744		11,760
	Commitments and contingencies		-		-
	Stockholders’ equity:
	Common stock—$0.01 par value, 80,000,000 shares authorized, 26,279,797 and 25,895,800 shares issued and outstanding at January 2, 2011, and January 3, 2010, respectively		263		259
	Additional paid-in capital		196,563		191,000
	Retained earnings		37,552		37,958

	Total stockholders’ equity		234,378		229,217

	Total liabilities and stockholders’ equity	$	462,928	$	469,102