hw7fsa(1).docx

# hw7fsa(1).docx - G26205244 Jaegook Lee Due Prof Jones...

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G26205244 Jaegook Lee Due April 24, 2018 Prof. Jones Homework 7 A separate file includes the financial statements and part of MD&A for Brinker International. It is a restaurant chain that owns Chili’s and Maggiano’s. Use Brinker’s financial statements to answer the questions. 1. Use the financial statements provided for Brinker International to answer these questions. As of June 28, 2017 (the end of its fiscal year) its stock price was \$38.13 per share. a. Calculate the book value per share for the firm. (493,681,000)/48,440,721=\$-10.19 b. Using the methods we discussed in the Antle chapter, identify what are the most likely factors that contribute to the large difference in the market value per share (which is a good estimate of the economic value per share) and the book value per share. The value of intangible assets would be differed from the recorded book value. Under the U.S. GAAP, revaluation on assets cannot be higher than the recorded book value of the assets, which IFRS allows. On the other hand, it allows impairment on assets and the

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