fm4 20 - Common Size Income Statement 2006 2007 2008e Ind....

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Mini Case: 4 - 20 Common Size Balance Sheets Assets 2006 2007 2008e Ind. Cash 0.6% 0.3% 0.4% 0.3% Short Term Investments 3.3% 0.7% 2.0% 0.3% Accounts Receivable 23.9% 21.9% 25.0% 22.4% Inventories 48.7% 44.6% 48.8% 41.2% Total Current Assets 76.5% 67.4% 76.2% 64.1% Gross Fixed Assets 33.4% 41.7% 34.7% 53.9% Less Accumulated Depreciation 10.0% 9.1% 10.9% 18.0% Net Fixed Assets 23.5% 32.6% 23.8% 35.9% Total Assets 100.0% 100.0% 100.0% 100.0% Liabilities And Equity 2006 2007 2008e Ind. Accounts Payable 9.9% 11.2% 10.2% 11.9% Notes Payable 13.6% 24.9% 8.5% 2.4% Accruals 9.3% 9.9% 10.8% 9.5% Total Current Liabilities 32.8% 46.0% 29.6% 23.7% Long-Term Debt 22.0% 34.6% 14.2% 26.3% Common Stock (100,000 Shares) 31.3% 15.9% 47.8% 20.0% Retained Earnings 13.9% 3.4% 8.4% 30.0% Total Equity 45.2% 19.3% 56.2% 50.0% Total Liabilities And Equity 100.0% 100.0% 100.0% 100.0%
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Unformatted text preview: Common Size Income Statement 2006 2007 2008e Ind. Sales 100.0% 100.0% 100.0% 100.0% Cost Of Goods Sold 83.4% 85.4% 82.4% 84.5% Other Expenses 9.9% 12.3% 8.7% 4.4% Depreciation 0.6% 2.0% 1.7% 4.0% Total Operating Costs 93.9% 99.7% 92.9% 92.9% EBIT 6.1% 0.3% 7.1% 7.1% Interest Expense 1.8% 3.0% 1.1% 1.1% EBT 4.3%-2.7% 6.0% 5.9% Taxes (40%) 1.7%-1.1% 2.4% 2.4% Net Income 2.6%-1.6% 3.6% 3.6% Computron has higher proportion of inventory and current assets than industry. Computron has slightly more equity (which means less debt) than industry. Computron has more short-term debt than industry, but less long-term debt than industry. Computron has lower COGS than industry, but higher other expenses. Result is that Computron has similar EBIT as industry....
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