chapter_10 - Chapter 10 Statement of Cash Flows TO THE NET...

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Chapter 10 Statement of Cash Flows TO THE NET 1. Northrop Grummon a. SIC 3812 Search, Detection, Navigation, Guidance, Aeronautical Systems. b. The direct method is used for operating activities. This presents individual inflows and outflows from operating activities. The alternative presentation (indirect method) does not present individual inflows and outflows from operating activities. 2. Dell Computer a. SIC 3571 Electronic Computers b. Fiscal Year Ended February 1, 2002 February 2, 2001 (In millions) Accounts receivable, net Inventories Accounts payable $2,269 278 5,075 $2,424 400 4,286 c. Fiscal Year Ended February 1, 2002 February 2, 2001 (In percent) Accounts receivable, net Inventories Accounts payable 93.6 69.5 118.4 100.0 100.0 100.0 d. Fiscal Year Ended February 1, 2002 February 2, 2001 (In millions) Net revenue Net income Net cash provided by operating activities $31,168 $ 1,246 $ 3,797 $31,888 $ 2,177 $ 4,195 e. Fiscal Year Ended February 1, 2002 February 2, 2001 (In percent) 4
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Net revenue Net income Net cash provided by operating activities 97.7 57.2 90.5 100.0 100.0 100.0 f. Impressive that the decrease in inventories was substantially more than the decrease in accounts receivable net; and the decrease in net revenue. Net income decreased materially more than the decrease in net revenue. (This would be a material negative.) Net cash provided by operating activities decreased substantially more than the decrease in net revenue. (This would be a material negative.) The increase in accounts payable considering the decrease in inventories would be a material negative. 3. Coors Adalph a. SIC 2082 Malt Beverages b. December 30, 2001 December 31, 2000 Current maturities of long-term debt and current notes payable Total debt Common shares outstanding $ 85,000,000 $788,380,000 35,949,410 -- $696,915,000 37,131,121 c. Fiscal Year Ended December 30, 2001 December 31, 2000 (In thousands) Operating Cash Flow Preferred Dividends Total Cash Dividends $193,396 -- $29,510 $280,731 -- $26,564 d. Selected ratios for 2001, and 2000 2001 2000 1. Operating cash flow/ current maturities of $193,396 $280,731 long-term debt and current $ 85,000 --* notes payable 2.28 times N/A 5
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*No current maturities of long-term debt and current notes payable. 6
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2001 2000 2. Operating cash flow/ $193,396 $280,731 total debt $788,380 $696,915 = 24.53% = 40.28% 3. Operating cash flow per share 2001 2000 $193,396,000 $280,731,000 $ 35,949,410 $ 37,131,121 = $5.38 = $7.56 4. Operating cash flow/cash dividends 2001 2000 $193,396,000 $280,731,000 $29,510,000 $26,564,000 = 6.55 times - 10.57 times e. Operating cash flow/current maturities of long-term debt and current notes payable. No current maturities of long-term debt and current notes payable in 2000. Therefore there is not a good comparison. The coverage in 2001 appears to be good. Operating cash flow/total debt
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chapter_10 - Chapter 10 Statement of Cash Flows TO THE NET...

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