Session 7_Study Group Case I_Solution_FIN615_UMUC

Session 7_Study Group Case I_Solution_FIN615_UMUC - Sales...

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Income Statement For the Years Ended June 30, 2001 to 2005 Jun-06* Jun-05 Jun-04 Jun-03 Sales 60,048.00 56,741.00 51,407.00 43,377.00 Cost of Sales 28,425.98 25,920.00 23,343.00 20,438.00 Gross Operating Profit 31,622.02 30,821.00 28,064.00 22,939.00 18,921.38 18,010.00 16,504.00 13,383.00 1,884.00 1,884.00 1,733.00 1,703.00 EBIT 10,816.64 10,927.00 9,827.00 7,853.00 Other Income, Net 346.00 346.00 152.00 238.00 Interest Expense 834.00 834.00 629.00 561.00 Pre-tax Income 10,328.64 10,439.00 9,350.00 7,530.00 Income Taxes 3,098.59 3,182.00 2,869.00 2,344.00 Total Net Income 7,230.04 7,257.00 6,481.00 5,186.00 Tax Rate 30% Basic EPS from Total Operations 2.82 2.83 2.46 1.95 Dividends Paid per Share 1.13 1.03 0.93 0.82 Preferred Dividends 136 136 131 125 Assumptions Assumed Net Interest Rate 4.65% Base Case Sales 60,048.00 Sales Adjustment for Scenarios 100% DFN for Scenarios -7,443.05
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Jun-02 Jun-01 40,238.00 39,244.00 19,296.00 19,831.00 20,942.00 19,413.00 12,571.00 12,406.00 1,693.00 2,271.00 6,678.00 4,736.00 308.00 674.00 603.00 794.00 6,383.00 4,616.00 2,031.00 1,694.00 4,352.00 2,922.00 1.63 1.08 0.76 0.70 124 121
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Base Case Page 3 1
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Best Case Page 4 1.1
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Worst Case Page 5 0.9
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Balance Sheet As of June 30, 2001 to 2005 Annual Balance Sheet (Values in Millions) Jun-06* Jun-05 Jun-04 Jun-03 Assets Current Assets Cash and Equivalents 6,389.00 6,389.00 5,469.00 5,912.00 Receivables 4,495.07 4,185.00 4,062.00 3,038.00 Inventories 5,162.34 5,006.00 4,400.00 3,640.00 Other Current Assets 4,749.00 4,749.00 3,184.00 2,630.00 Total Current Assets 20,795.41 20,329.00 17,115.00 15,220.00 Non-Current Assets 26,325.00 26,325.00 25,304.00 23,542.00 13,877.00 11,993.00 11,196.00 10,438.00 12,448.00 14,332.00 14,108.00 13,104.00 Intangibles 24,163.00 24,163.00 23,900.00 13,507.00 Other Non-Current Assets 2,703.00 2,703.00 1,925.00 1,875.00 Total Non-Current Assets 39,314.00 41,198.00 39,933.00 28,486.00 Total Assets 60,109.41 61,527.00 57,048.00 43,706.00 Current Liabilities Accounts Payable 3,716.67 3,802.00 3,617.00 2,795.00 Short Term Debt 11,441.00 11,441.00 8,287.00 2,172.00 Other Current Liabilities 10,227.42 9,796.00 10,243.00 7,391.00 Total Current Liabilities 25,385.08 25,039.00 22,147.00 12,358.00 Non-Current liabilites
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This note was uploaded on 07/24/2009 for the course FIN FIN taught by Professor Robbani during the Summer '09 term at University of Maryland Baltimore.

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Session 7_Study Group Case I_Solution_FIN615_UMUC - Sales...

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