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Project 1 - Project 1 Ratios and Financial Planning BCOR...

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Project 1: Ratios and Financial Planning BCOR 2200 Intro to Finance 2008 Industry Values for 2007: 2007 Forecast 2008 Lower Upper Sales $15,444,000 20,000,000 2007 Forecast Quartile Median Quartile COGS 10,884,000 14,000,000 Current ratio 0.75 0.70 0.50 1.43 1.89 Other expenses 1,845,600 2,200,000 Quick ratio 0.44 0.43 0.21 0.38 0.62 Depreciation 504,000 750,000 Cash ratio 0.16 0.21 0.08 0.21 0.39 EBIT 2,210,400 3,050,000 Asset Turnover 1.54 1.26 0.68 0.85 1.38 Interest Expense 277,800 442,000 Inventory Turnover 19.22 14.86 4.89 6.15 10.89 Taxable income 1,932,600 2,608,000 Days Sales in Inventory 18.99 24.56 12.65 17.65 22.58 Taxes (40%) 773,040 1,043,200 Receivables Turnover 30.57 25.97 6.27 9.82 14.11 Net income 1,159,560 1,564,800 Total debt ratio 0.49 0.60 0.44 0.52 0.61 Debt-equity ratio 0.96 1.49 0.79 1.08 1.56 Dividends $347,868 347,868 Equity multiplier 1.96 2.49 1.79 2.08 2.56 Add to RE $811,692 $1,216,932 Times interest earned 7.96 6.90 5.18 8.06 9.83 Cash coverage ratio 9.77 8.60 5.84 8.43 10.27 Current Assets Profit Margin 7.51% 7.82% 4.05% 7.90% 9.87% Cash $280,800 750,000 Return on Assets 11.57% 9.85% 2.75% 6.72% 13.62% A/R 505,200 770,000 Return on Equity 22.70% 24.51% 4.92% 13.97% 34.87% Inventory 566,400 942,000 Retention Ratio 0.70 0.78 Total CA $1,352,400 2,462,000 Internal Growth Rate 8.81% 8.30% Fixed assets Sustainable Growth Rate 18.89% 23.55% Net PP&E $8,673,600 13,423,332 Total Assets 10,026,000 15,885,332 0 0 Current Liabilities DuPont Framework ROE PM AT EM Accounts Payable $596,400 700,000 For 2007 22.70% 7.51% 1.54 1.96 Notes Payable 1,207,200 2,800,000 For 2008 24.51% 7.82% 1.26 2.49 Total CL $1,803,600 3,500,000 Industry Median 13.97% 7.90% 0.85 2.08 Long-term debt $3,114,000 6,000,000 Shareholder Equity Common stock
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