Week_2_Mini_Case_Financial_Statement

Week_2_Mini_Case_Financial_Statement - DPS 0.22 0.11 Tax...

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2009 2010 Balance Sheets Assets Cash 9000 7282 Short-term investments 48600 20000 Accounts receivable 351200 632160 Inventories 715200 1287360 Total current assets 1124000 1946802 Gross fixed assets 491000 1202950 Less: Accumulated depreciation 146200 263160 Net fixed assets 344800 939790 Total Assets 1468800 2886592 Liabilities and Equity Accounts payable 145600 324000 Notes payable 200000 720000 Accruals 136000 284960 Total current liabilities 481600 1328960 Long-term debt 323432 1000000 Common stock (100,000 shares) 460000 460000 Retained earnings 203768 97632 Total equity 663768 557632 Total liabilities and equity 1468800 2886592 Income Statements Sales 3432000 5834400 Cost of goods sold 2864000 4980000 Other expenses 340000 720000 Depreciation 18900 116960 Total operating costs 3222900 5816960 EBIT 209100 17440 Interest expense 62500 176000 EBT 146600 -158560 Taxes (40%) 58640 -63424 Net Income 87960 -95136 Other Data Stock price 8.5 6 Shares outstanding 100000 100000 EPS 0.88 -0.951
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Unformatted text preview: DPS 0.22 0.11 Tax rate 0.4 0.4 2010 Statement of Cash Flows Operating Activities Net income-95136 Adjustments: Noncash adjustments Depreciation 116960 Changes in working capital: Change in accounts receivable-280960 Change in inventories-572160 Change in accounts payable 178400 Change in accruals 148960 Net cash provided (used) by operating activities-503936 Investing Activities Cash used to acquire fixed assets-711950 Change in shore-term investments 28600 Net cash provided (used) by investing activities-683350 Financing Activities Change in notes payable 520000 Change in long-term debt 676568 Change in common stock Payment of cash dividends-11000 Net cash provided (used) by financing activities 1185568 Summary Net change in cash-1718 Cash at beginning of year 9000 Cash at end of year 7282...
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This note was uploaded on 11/02/2011 for the course ECONOMY G123/EC100 taught by Professor Melissa during the Spring '10 term at Rasmussen College.

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