Phast Express Specializes in the Overnight Transportation of Medical Equipment $\bullet$

Essay

Phast Express specializes in the overnight transportation of medical equipment and laboratory specimens. The company has selected the following information from its most recent annual report to be the subject of an immediate press release.
$\bullet$ The financial statements are being released.
$\bullet$ Net income this year was $2.12 million. Last year's net income had been $2.0 million.
$\bullet$ The current ratio has changed to 2:1 from last year's 1.4:1
$\bullet$ The debt/assets ratio has changed to 3:5 from last year's 2:5
$\bullet$ The company expanded its truck fleet substantially by purchasing ten new delivery vans. The company already had twelve delivery vans.
$\bullet$ The company is now the largest medical courier in the mid-Atlantic region.
Required:
Prepare a brief press release incorporating the information above. Include all information. Think carefully which information (if any) is good news for the company and which (if any) is bad news.