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'\NALYSIS
oF FINANCIAL STATEMEN'S-'|
''
''
problern
i: V/ilclcnrcss
prorlucts,
Inc. is a whrlesaler of skis, snow shocs, and other outdoor
winter cquipr,crrt. C'onrpirrltrvc
brtance shects and income statrrments for 2009 and 20tr0 are
presetrted helc.
t-
Y
Balance Shect
(ln thousands)
Bonds
payablc ( I
,000
facc vaiuc; I 0%)
I
Total liabilities
Stockholtlcru'
cquitY:
Prefened stock (P100 par
Yrilue;
8%)
Common stock (Pl0
Par
yalue)
Additional
paid-in capital
Retained camings
Total stockltolders" cclu ity
Total liabilities artd stockholdcrs' equity
201 0
P 200
120
3,000
5,000
75
8,395
450
23.000
rlj,$41
P 2,880
9.00u
I 1,880
1,500
6,000
1,000
I
1.455
l9J{5
Pil.845
P26,700
r 8.000
8,700
1.800
6,900
?0Q
6,000
1.800
4,200
120
4,080
e3l
3,1 45
8.320
Rit4it
'8.
Otbt-.quity ratio
,@1"
9. lnterest coverage
10. Acid-test ratio
0,il
I l. Retum on assets
0.
t+
:
12. Retum on equity o. t3
13. Retunr on sales O.L1,,
14. Book value per share
X 1l
uipment (net)
'Equity
2409
P 170
90
2,500
4,200
.60
7,020
500
20.000
vzw/p
P 2800
8.500
I1,300
1,500
5,500
900
8.320
-M2zo
PilIN
P25,550
17.500
8,050
1,700
6,350
850
5,500
J.@
3,850
t20
3,730
730
3,000
iJ2q
P_EjZ0
Income and Retained Earnings Statements
Saies
Cost of goods sold
Grbss nralgin
Oqerating expcnses
Operating income
Inlerest expensc
lncomc before taxcs
lncome tax
(30%)
Net income
Dividends on prefened stock '
Net income av-ailablc to common
I
on common stock
added to retained earnings
inss. Jan I
arninps, Dec 31
Compute each of the following arnounts or ratios for 2010:
turnover
'1o
lL
turnover
Problcm 2, Artswcr tli.: t,rtcsiion(s) for each of the following indcperrdent situations.
B.
'iltc
cul'rcrtt titito rs 1.5 io l; thc ucid-tcst ratio is 0.9 to l;cash and receivables arc
P5'40,0'J0.
'l'lrc
only c uircrtt assets are cash, receivables, and inventory. (a) What are
,
curx'ent liabilitics'' (b) \\'hlt is invcntory?
b. Selcctc-tl iln:rrrcill tllta Ii'onr tlre June 30 ycar-cird statcmcnts of Stanford Comparry aro
givcn bclow:
'
Told asscts
Lon|-terrrr tlcbt ( l2% intercst rate)
Prelbrrcd stock, Pl00 par,8%
l'otal stockholders' equity
Intercst glaid on long-term debt
Net inconrc
P3,600,000
500,000
900,000
2,400"000
50,000
290,000
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Total asssts al tlrc bcginning of the year rvere F3 nrillion; total stocktioldcrs' equity wss
P2.2 nrilliolr'
'l'lterrc
ltas hccn no change in tlrc prcfcrrcd stock during the year.
'the
conrpany's tax ratc is 30%.
Compute: the retunr on total assets; the retum on cornmon stockholders' equity. Is
financial levcrage positive or negatiye?
i
Problcm
3. Fuego Corporation experienced
a fire on Decenrbcr 31,2010, in whichlits financial
rlords were partially destioyed.
It has been able to salvage some of the records and has
inpd thefiol lowins batances
December 31,2010 December 31,2009
(rrc()
company had no additional paid in capitat. Thc receivables
turnover is 9.4
assets is 20%. Total assets at December 3 l, 2009, were
p6,050,000.
Compute the following:
l. Cost of goods sold for 2010
2. Nct irrconrc for 2010
3. Net sales for 2010
4. Tctal assets at Dcccrnhcr
31,2010
P 300,000
720,500
2,000,000
500,000
300,000
4,000,000
1,13.5,000
P 100,000
1,260,000
1,800,000
900,000
600,000
4,000,000
1,010,000
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equity
is22%. The
tirnes
The return on
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