"Z- score"
Date calculated	17-Nov-04
Company	Lucent  9/30/03
Data used	AAII stock investor
Data input
Working Capital  = Current Assets - Current Liabilities
Current Assets	$7,833
Current Liabilities	$5,015
Working Capital	$2,818
Total Assets	$15,765
Retained Earnings	-$3,371
Operating Income	$0
Market Cap. + preferred stock	$9,000
Total Debt	$5,980
Sales	$8,470
Z- score Results	1.41
What are the chances of bankruptcy ?
1.80 or less             Very High
1.81 to  2.7               High
2.8 to 2.9                  Possible
3.0 or higher           Not Likely
Formulas Used
(Working Capital / Total Assets  * 1.2 )	0.21
+ ( Retained Earnings/ Total Assets * 1.4)	-0.30
+ (Operating Income/Total Assets * 3.3 )	0.00
+ (Market Value of Common and preferred Stock / Total Debt * .6 )	0.90
+ (Sales / Total Assets * 1.1 )	0.59
Score                  Probability of Short-term illiquidity	1.41
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