Analisis Laporan Keuangan

Nama : Allan Muraram / 453598

Kelas B
Tugas 9 Sesi 10
14/04/2020

EXERCISE 9-4 A
Lyon Corp.
Cash Forecast
For July, Year 6

Beginning cash balance $ 20

Cash collections
Beginning accounts receivable $ 20
Sales for month 150
170
Less : Ending accounts receivable 21 149
Cash available 169
Cash distribusements
Beginning accounts payable 18
Purchases ( a ) 115
133
Ending accounts payable (25% of purchases) 29 104
Miscellaneous outlays 11
Cash balance 54
Minimum cash balance desired 30
Excess cash $ 24

NB: a
Ending inventory $ 15
Cost of goods sold (5/6 of sales) 125
140
Less beginning inventory 25
Purchases $ 115

PROBLEM 9-2
a.
Year 3
Best Buy Estimate Year 2 Year 1
Income statement
Net sales $ 18.800 $ 15.326 $ 12.494
Cost of goods 15.048 12.267 10.101
Gross profit 3.752 3.059 2.393
Selling general & Adm. Expense 2.761 2.251 1.728
Depreciation & amortization expenses 304 167 103
Income before tax 687 641 562
Income tax expense 263 245 215
Net income 424 396 347
Outstanding shares $ 208 $ 208 $ 200

Ratio
Sales growth 22,67% 22,67%
Gross profit margin 19,96% 19,96%
Selling general & administrative exp/sales 14,69% 14,69%
Depreciation expense/Prior-year PPE gross 15,28% 15,28%
Income tax expense/Pre tax income 38,22% 38,22%

Year 3
Balance Sheet Estimate Year 2 Year 1
Cash $ 196 $ 746 $ 751
Receivable 384 313 262
Inventories 2168 1767 1184
Other 102 102 41
Total current assests 2850 2928 2238

Property, plant & equipment 3249 1987 1093

Accumulated depreciation 847 543 395
Net property & equipment 2403 1444 698
Other assests 466 466 59
Total assests 5719 4838 2995

Acc. Payable & accrued liabilities 3034 2473 1704

Short term debt & cmltd 114 114 16
Income taxes 136 127 65
Total cuurent liabilities 3284 2714 1785

Long term liabilities 122 122 100

Long term debt 67 181 15
Total long term liabilities 189 303 115

Common stock 20 20 20
Capital surplus 576 576 247
Retained earning 1650 1225 828
Shareholder equity 2246 1821 1095
Total liabilities & net worth $ 5.719 $ 4.838 $ 2.995

Ratio
A/R turnover 48,96 48,96 47,69
Inventories Turnover 6,94 6,94 8,53
A/P Turnover 4,96 4,96 5,93
Taxes payable/Tax expense 51,84% 51,84% 30,23%
Total assets/Stockholders’ equity (fin. leverage) 2,55 2,66 2,74
Dividends per share $ - $ - $ -
Capital expenditures 1262 1029 416
Capital expenditures/Sales 6,71% 6,71% 3,33%

Year 3
Statement of Cash Flows Estimate
Net income $ 425
Depreciation 304
Accounts receivable -71
Inventories -401
Accounts payable 561
Income taxes 9
Net cash flow form operation 827

Capital expenditures -1262

Net cash flow from investing activities -1262

long term debt -114

Additional paid in capital 0
Dividends 0
Net cash flow from financiang activities 114

Net changes in cash -550

Beginning cash 746
Ending cash $ 196

b.
Berdasarkan proyeksi bahwa Best Buy akan membutuhkan $550 (in million) dari external
financing untuk menghasilkan balance $750 (in million) dan analis bisa mendapatkan
pendanaan ini antara debt dan equity sehingga dapat mempertahankan financial
leverage level presentasi yang digunakan pada best buy.

PROBLEM 9-5A
a
Talnet Corp
Pro Forma Income Statement ($000s)
Six Months Encded June 30, Year 2
Sales revenue ($250 x 6 mos.) $ 1.500
Cost of goods sold 1199
Gross margin 301
Selling & adm. Expenses 285
Expected pre tax income 16
Estimated income taxes (50%) 8
Expected net income $ 196