The commercial loan officer of topeka national bank

This preview shows page 6 - 7 out of 8 pages.

The commercial loan officer of Topeka National Bank requested financial reports for the last 2 fiscal years. BRADBURN CORPORATION Statement of Financial Position March 31 Assets 2013 2012 Cash $18,200 $12,500 Notes receivable 148,000 132,000 Accounts receivable (net) 131,800 125,500 Inventories (at cost) 105,000 50,000 Plant & equipment (net of depreciation) 1,449,000 1,420,500 Total assets $1,852,000 $1,740,500 Liabilities and Owners' Equity Accounts payable $79,000 $91,000 Notes payable 76,000 61,500 Accrued liabilities 9,000 6,000 Common stock (130,000 shares, $10 par) 1,300,000 1,300,000 388,000 282,000 Total liabilities and owners' equity $1,852,000 $1,740,500 SANDBURG CORPORATION Income Statement For The Fiscal Year Ended March 31 2013 2012 Sales $3,000,000 $2,700,000 Cost of goods sold 1,530,000 1,425,000 Gross margin 1,470,000 1,275,000 Operating expenses 860,000 780,000 Income before income taxes 610,000 495,000 Income taxes 244,000 198,000 Net income after income taxes $366,000 $297,000 Depreciation charges on the plant and equipment of $100,000 and $102,500 for the fiscal years ended March 31, 2012, and 2013, respectively, are included in cost of goods sold. Instructions: Fill in the provided matrix and utilize it as the matrix for "VLOOKUP" formulas within the cells below. Column 4 Column 5 2013 2012 Average inventory - 2011 Formula Average total assets Formula Formula Total Assets = Mar 31, 2009 Formula Total Assets = Mar 31, 2010 Formula Total Assets = Mar 31, 2011 Amount Cost of goods sold Amount Amount Current assets Amount Amount Current liabilities Amount Amount Dividends Amount Amount Depreciation Amount Amount Gross margin Amount Amount Income before taxes Amount Amount Income taxes (40%) Amount Amount Inventories = EOY 2010 Amount Inventories = EOY 2011 Amount Net income after taxes Amount Amount Operating expenses Amount Amount Sales Amount Amount 2012 Current ratio = Amount ---------------- = Formula to 1 Amount 2013 Current ratio = Formula ---------------- = Formula to 1 Formula 2012 Quick ratio = Formula ---------------- = Formula Formula to 1 2013 Quick ratio = Formula ---------------- = Formula Formula to 1 2013 Inventory Turnover = Amount ---------------- = Formula #N/A to 1 $1,688,500 at March 31, 2011.) 2012 Return on assets = Formula ---------------- = Formula Formula 2013 Return on assets = Formula ---------------- = Formula Formula 2012 2013 Change Percent Change Sales Formula Formula Formula Formula Cost of goods sold Formula Formula Formula Formula Gross margin Formula Formula Formula Formula Net income after taxes Formula Formula Formula Formula Note: The formulas in some cell formulas are "live" and need values placed in their source cells. 1 Enter text answer as appropriate. 2 Enter text answer as appropriate. 3 Enter text answer as appropriate. 4 Enter text answer as appropriate. Enter text answer as appropriate. 2013 2014 2015 Sales Formula Formula Formula Title Formula Formula Formula Gross margin Formula Formula Formula Title Formula Formula Formula Income before taxes Formula Formula Formula Title Formula Formula Formula Net income Formula Formula Formula Add: Title Amount Amount Deduct: Title Amount Amount Note repayment Amount Funds available for plant expansion Formula Formula Plant expansion Amount Amount Excess funds Formula Formula Assumptions: Sales increase at a rate of Cost of goods sold increases at rate of despite depreciation remaining constant.
Image of page 6

Subscribe to view the full document.

Image of page 7
You've reached the end of this preview.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern