Exhibit 1 Financial Statements for Tire City, Inc.

For years ending 12/31 1993 1994 1995 1996

INCOME STATEMENT

Net sales $ 16,230 $ 20,355 $ 23,505 $ 28,206

Cost of sales $ 9,430 $ 11,898 $ 13,612 $ 16,403

Gross Profit $ 6,800 $ 8,457 $ 9,893 $ 11,803

Selling, general, and administrative expenses $ 5,195 $ 6,352 $ 7,471 $ 8,932

Depreciation $ 160 $ 180 $ 213 $ 213

Net interest expense $ 119 $ 106 $ 94 $ 112

Pre-tax income $ 1,326 $ 1,819 $ 2,115 $ 2,545

Income taxes $ 546 $ 822 $ 925 $ 1,104

Net income $ 780 $ 997 $ 1,190 $ 1,442

Dividends $ 155 $ 200 $ 240 $ 289

BALANCE SHEET

Assets

Cash balances $ 508 $ 609 $ 706 $ 858

Accounts receivable $ 2,545 $ 3,095 $ 3,652 $ 4,365

Inventories $ 1,630 $ 1,838 $ 2,190 $ 1,625

Total current assets $ 4,683 $ 5,542 $ 6,548 $ 6,848

Gross plant & equipment $ 3,232 $ 3,795 $ 4,163 $ 6,163

Accumulated depreciation $ 1,335 $ 1,515 $ 1,728 $ 1,941

Net plant & equipment $ 1,897 $ 2,280 $ 2,435 $ 4,222

Total assets $ 6,580 $ 7,822 $ 8,983 $ 11,070

Liabilities and equity

Current maturities $ 125 $ 125 $ 125 $ 125

$ 375

Accounts payable $ 1,042 $ 1,325 $ 1,440 $ 1,792

Accrued expenses $ 1,145 $ 1,432 $ 1,653 $ 1,986

Total current liabilities $ 2,312 $ 2,882 $ 3,218 $ 4,277

Long-term debt $ 1,000 $ 875 $ 750 $ 625

Common stock $ 1,135 $ 1,135 $ 1,135 $ 1,135

Retained earnings $ 2,133 $ 2,930 $ 3,880 $ 5,033

Total shareholders' equity $ 3,268 $ 4,065 $ 5,015 $ 6,168

Total liabilities and equity $ 6,580 $ 7,822 $ 8,983 $ 11,070

1997 1993 1994

Profitability

$ 33,847 Return on sales 4.81% 4.90%

$ 19,684 Return on assets 11.85% 12.75%

$ 14,163 Return on equity 23.87% 24.53%

$ 10,718

$ 333 Liquidity

$ 173 Current ratio 2.025519031 1.92297016

$ 2,939 Quick ratio 1.32050173 1.285218598

$ 1,275

$ 1,665 Leverage

$ 333 Assets/equity 2.013463892 1.924231242

Total debt/total capital 0.503343465 0.480311941

Interest coverage 12.14285714 18.16037736

$ 1,030 Activity

$ 5,238 Total asset turnover 2.46656535 2.602275633

$ 3,203 Days receivables 57.23505853 55.49864898

$ 9,470 Days inventory 63.0911983 56.38510674

$ 6,563 39.94919874

$ 2,274

$ 4,289

$ 13,759 Du Pont

ROA 0.118541033 0.127461007

$ 125 ROE 0.23867809 0.24526445 $ 1,103 ROE 0.23867809 0.24526445 $ 2,150 $ 12,106 $ 2,383

$ 5,761

$ 500 $ 93 $ 94 $ 95 AVG $ 1,135 Cost of sales/Sa 0.5810228 0.58452469 0.57911083 0.58155277 $ 6,364 SG&A/Sales 0.32008626 0.31206092 0.31784727 0.31666482 $ 7,499

$ 13,760 Income tax/Pret 0.41176471 0.45189665 0.43735225 0.4336712Dividends/Net i 0.19871795 0.20060181 0.20168067 0.20033348

Cash/Sales 0.03130006 0.02991894 0.03003616 0.03041839Receivables/Sal 0.15680838 0.15205109 0.1553712 0.15474356Inventories/Sale 0.1004313 0.09029722 0.09317167 0.0946334

Days payablea

Payables/Sales 0.06420209 0.06509457 0.06126356 0.06352008Accrued exp/Sal 0.07054837 0.07035127 0.07032546 0.07040836

1995 1996 1997

5.06% 5.11% 4.92%

13.25% 13.02% 12.10%

23.73% 23.37% 22.20%

2.034804226 1.601004427 1.643798273

1.354257303 1.221075308 1.08782685

1.791226321 1.794765873 1.834845272

0.441723255 0.44283391 0.455026928

23.5 23.63547 18.00824853

2.616609151 2.548041641 2.459948184

56.71048713 56.48139821 56.48139821

58.72392007 36.15893238 59.39476437

37.6396448 #DIV/0! #DIV/0!

0.132472448 0.130224728 0.120977953

0.23728814 0.2337229 0.221975830.23728814 0.2337229 0.22197583

$ 13,964

For Years Ending 12/31 Assumptions 1996

INCOME STATEMENT

Net sales 28206

Cost of sales 16403.27745

Gross profit 11802.72255

S, G, & A 8931.847774

Depreciation 213

Net interest expense 112.4528

Pre-tax income 2545.42198

Income taxes 1103.876203

Net income 1441.545777

Dividends 288.7898756

BALANCE SHEET

Assets

Cash 857.9810422

Accounts receivable 4364.696762

Inventories 1625

Total current assets 6847.677804

Gross plant & equipment 6163

Accumulated Depreciation 1941

Net plant & equipment 4222

Total assets 11069.6778

Liabilities

Current maturities of LTD 125

New Bank Debt 374.528

Accounts payable 1791.647256

Accrued expenses 1985.938343

Total current liabilities 4277.113599

Long term debt (LTD) 625

Common stock 1135

Retained Earnings 5032.755902

Total equity 6167.755902

Total liabilities and equity 11069.8695

10695.3415

374.336304

NWC 4198.04951

1997

1993 1994 1995 AVG33847 Cost of sales/Sa 0.5810228 0.58452469 0.57911083 0.58155277

19683.81662 SG&A/Sales 0.32008626 0.31206092 0.31784727 0.3166648214163.18338

10718.154 Income tax/Pret 0.41176471 0.45189665 0.43735225 0.4336712333 Dividends/Net i 0.19871795 0.20060181 0.20168067 0.20033348

172.81133

2939.21805 Cash/Sales 0.03130006 0.02991894 0.03003616 0.030418391274.654217 Receivables/Sal 0.15680838 0.15205109 0.1553712 0.154743561664.563833 Inventories/Sale 0.1004313 0.09029722 0.09317167 0.0946334

333.4678578 Payables/Sales 0.06420209 0.06509457 0.06126356 0.06352008Accrued exp/Sal 0.07054837 0.07035127 0.07032546 0.07040836

1029.571167

5237.605165

3203.056576

9470.232909

6563 400 20002274 273.205382 1241.84265 1515.048034289 68.3013455 310.460662 378.762007

13759.23291

125

1103.1133

2149.964003

2383.111929

5761.189233

500

1135

6363.851877

7498.851877

13760.04111

12656.9278

1102.3051

6290.69774

28206 3384716403.2774 19683.816611802.7226 14163.18348931.84777 10718.154

213 333112.876201 214.0048032544.99858 2898.024581103.69259 1256.789791441.30599 1641.23478288.741839 328.794268

846.18 1015.414364.69676 5237.60517

1625 3203.056586835.87676 9456.07174

6163 65631941 22744222 4289

11057.8768 13745.0717

125 125378.762007 1515.048031791.64726 2149.9641985.93834 2383.111934281.34761 6173.12396

625 5001135 1135

5032.56415 6345.004676167.56415 7480.0046711073.9118 14153.1286

1993 1994 1995 1996

ProfitabilityReturn on sales 4.81% 4.90% 5.06% 5.11%Return on assets 11.85% 12.75% 13.25% 13.02%Return on equity 23.87% 24.53% 23.73% 23.37%

LiquidityCurrent ratio 2.02551903 1.92297016 2.03480423 1.60100443Quick ratio 1.32050173 1.2852186 1.3542573 1.22107531

LeverageAssets/equity 2.01346389 1.92423124 1.79122632 1.79476587Total debt/total capital 0.50334347 0.48031194 0.44172326 0.44283391Interest coverage 12.1428571 18.1603774 23.5 23.63547

ActivityTotal asset turnover 2.46656535 2.60227563 2.61660915 2.54804164Days receivables 57.2350585 55.498649 56.7104871 56.4813982Days inventory 63.0911983 56.3851067 58.7239201 36.1589324Days payablea 39.9491987 37.6396448 #DIV/0!

1997

4.92%12.10%22.20%

1.643798271.08782685

1.834845270.4550269318.0082485

2.4599481856.481398259.3947644

#DIV/0!