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Copy_of_Chapter_3_calculations_Presented_Final

Copy_of_Chapter_3_calculations_Presented_Final - MICRO...

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MICRO DRIVE INC. BALANCE SHEET - 2001 (In Millions of Dollars) Current Assets Yr 2001 Current Liabilities Yr 2001 Cash and Equivalents 10 Accounts Payable 60 Accounts Receivable 375 Notes Payable 110 Inventories 615 Accrued Expenses 140 Other - Total Current Liabilities 310 Total Current Assets 1,000 Long-term liabilities Fixed Assets Long-term debt 754 Property, Plant, and Equip. 1,100 Total long-term liabilities 754 Less: Accum. Deprec. 100 Stockholder's Equity Net PPE 1,000 Preferred Stock 40 Common Stock ($1 par value) 130 Total Fixed Assets 1,000 Retained Earnings 766 Total equity 936 TOTAL ASSETS 1,000 TOTAL LIABILITIES AND EQUITY 2,000 MICRO DRIVE INC. INCOME STATEMENT - 2001 (In Millions of Dollars) Net Sales 3,000.0 Operating costs 2,616.2 EBITDA 383.8 Depreciation 100.0 Amortnization - Subtotal Deprec.&Amortiz. 100.0 EBIT 283.8 Less: Interest 88.0 EBT 195.8 Taxes (40%) 78.3 Net Income before preferred divid. 117.5 Preferred dividends 4.0 Net Income 113.5 Common Dividends 57.5 Addition to retained earnings 56.0
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MICRO DRIVE INC. BALANCE SHEET - 2001 (In Millions of Dollars) Current Assets Yr 2001 Current Liabilities Yr 2001 Cash and Equivalents 10 Accounts Payable 60 Accounts Receivable 375 Notes Payable 110 Inventories 615 Accrued Expenses 140 Other - Total Current Liabilities 310 Total Current Assets 1,000 Long-term liabilities Fixed Assets Long-term debt 754 Property, Plant, and Equip. 1,100 Total long-term liabilities 754 Less: Accum. Deprec. 100 Stockholder's Equity Net PPE 1,000 Preferred Stock 40 Common Stock($1 par value) 130 Total Fixed Assets 1,000 Retained Earnings 766 Total equity 936 TOTAL ASSETS 2,000 TOTAL LIAB. AND EQUITY 2,000 MICRO DRIVE INC. INCOME STATEMENT - 2001 (In Millions of Dollars) Net Sales 3,000.0 Operating costs 2,616.2 ### EBITDA 383.8 Depreciation 100.0 Amortnization - Subtotal Deprec.&Amortiz. 100.0 EBIT 283.8 Less: Interest 88.0 EBT 195.8 Taxes (40%) 78.3 Net Income before preferred divid. 117.5 Preferred dividends 4.0 Net Income 113.5 Common Dividends 57.5 Addition to retained earnings 56.0
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INVENTORIES 615 615 CUR. ASSETS 1,000 4,600.00 CUR.LIAB 310 1,426.00 NWC 690 3,174 690 SALES 3,000.0 3,600.00 3,600.00 RATIO 23.00% 88.17% 19.17% CURRENT RAT 3.23 3.23 QUICK RAT 1.24 2.79 120% 130% 3,600.00 3,900.00 3,139.44 3,401.06 460.56 498.94
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3,600.00 IF IT HAS TO INVEST IN LONG TERM ASSETS AND PAY SOME LIABL IMMEDIATELY 1,116.00
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MICRO DRIVE INC. BALANCE SHEET - 2001 (In Millions of Dollars) Current Assets Yr 2001 Current Liabilities Yr 2001 Cash and Equivalents 10 Accounts Payable 60 Accounts Receivable 375 Notes Payable 110 Inventories 615 Accrued Expenses 140 Other - Total Current Liabilities 310 Total Current Assets 1,000 Long-term liabilities Fixed Assets Long-term debt 754 Property, Plant, and Equip. 1,100 Total long-term liabilities 754 Less: Accum. Deprec. 100 Stockholder's Equity Net PPE 1,000 Preferred Stock 40 Common Stock ($1 par value) 130 Total Fixed Assets 1,000 Retained Earnings 766 Total equity 936 TOTAL ASSETS 2,000 TOTAL LIABILITIES AND EQUITY 2,000 MICRO DRIVE INC. INCOME STATEMENT - 2001 (In Millions of Dollars) Yr 2002 Yr 2003 % of Sales +20% +30% Net Sales 3,000.0 100.00% 3,600.0 3,900.0 Operating costs 2,616.2 87.21% 3,139.4 3,401.1 EBITDA 383.8 12.79% 460.6 498.9 Depreciation 100.0 Amortnization - Subtotal Deprec.&Amortiz. 100.0 EBIT 283.8 Less: Interest 88.0 EBT 195.8 Taxes (40%) 78.3 Net Income before preferred divid. 117.5 Preferred dividends 4.0 Net Income 113.5 Common Dividends 57.5 Addition to retained earnings 56.0
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Variable Yr 2001 Yr 2002 Yr 2003 Yr 2002 D Yr 2003 D Cur.Assets 1,000.0 1,460.6 1,959.5 1,000.0 1,000.0 Cur.Liab. 310.0 410.0 510.0 310.0 310.0 Inventory 615.0 615.0 615.0 615.0 615.0
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