KUIS PRA – MIDTEST MANAJEMEN KEUANGAN

Hari/Tanggal : Jum’at, 16 Oktober 2020

Waktu : 90 menit
Dosen : Rini Yulia Sasmiyati, SE, MM
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1. Berdasarkan data di bawah ini yang ditunjukkan dari Income Statement dan Balance Sheets
Smart Corona Company yang berakhir pada 31 Desember 2018, dan diketahui besarnya sales
untuk tahun 2019 meningkat sebesar 40%. Dividend paid tahun 2019 tidak berubah. Anda
diminta untuk menyusun :
a. Proforma Income Statement dan Balance Sheet dengan Percent of Sales Method.
b. Proforma Income Statement dengan memisahkan Fixed Cost dan Variable Cost, bila
diketahui besarnya fixed cost untuk :
- Cost of Good Sold sebesar $ 140,000
- Operating Expense sebesar $ 35,000
- Interest Expense seluruhnya fixed sebesar $.3,000

SMART CORONA COMPANY

Income Statement Tahun 2018
Sales Revenue $ 400,000
Less : Cost of Goods Sold 280,000 -
Gross Profit 120,000
Less : Operating Expenses :
- Selling Expense $ 20,000
- General & Adm Expense 15,000
- Depreciation Expense 25,000
Total Operating Expense 60,000 -
Earning Before Interest & Tax (EBIT) 60,000
Less : Interest Expense 3,000 -
Earning Before Tax (EBT) 57,000
Less : Taxes (40%) 22,800 -
Earning After Interest & Tax (EAIT) 34,200
Less : Dividend Paid 20,000 -
To Retained Earning $ 14,200

SMART CORONA COMPANY

 Balance Sheets Tahun 2018

2018 2019

Assets
Cash $ 26,000 $ 28,000
Accounts Receivable 50,000 60,000
Inventory 42,000 56,250
Total Current Assets 118,000 144,250
Net Fixed Assets 94,000 100,000

Total Assets $ 212,000 $ 244,250

Liabilities & Equity

Accounts Payable $ 18,000 21,600
Notes Payable 10,300 13,400
Accruals 12,000 15,200
Total Current Liabilities 40,300 50,200
Long Term Debt 30,000 30,000
Total Liabilities 70,300 80,200

Common Stock (5,000 shares) 100,000 100,000

Retained Earnings 41,700 ............
Total Common Equity $ 141,700 $ ............

Total Liabilities & Equity $ 212,000 $ .............

2. Susunlah Balance Sheet dan Income Statement COVIDIA MANUFACTURING untuk tahun 2020
apabila diketahui data rasio keuangan yang diinginkan perusahaan untuk periode mendatang
adalah sebagai berikut :
a. Total assets $ 12,000,000
b. Current ratio 160% (CL boleh dibulatkan dalam ribuan)
c. Debt ratio 35%
d. Long term debt to equity ratio : 38,46% (LTD boleh dibulatkan dalam ribuan)
e. Earning per share $ 4,15
f. Jumlah lembar saham 200.000 lembar
g. Net profit margin 8,3%
h. Preferred stock dividend $ 50,000
i. Return on equity 10,64% (Equity boleh dibulatkan dalam ribuan)
j. Annual current purchase $ 6,300,000
k. Gross profit margin 25%
l. Account payable turnover 70x
m. Inventory turnover 8,62 x (Inventory boleh dibulatkan dalam ribuan)
n. Book value $ 39
o. Account receivable turnover 12,5 x
p. Times interest earned ratio 6,5
q. Profit margin 13%
r. Tax 20%
Jawaban :

1. Menyusun Proforma Statement

a. Metode Percentage of Sales
- Sales 2019 = $ 400.000 x 140% = $ 560.000
- COGS = ($ 280.000 / $ 400.000) x 100% = 70%
- Operating Expense = ($ 60.000 / $ 400.000) x 100% = 15%
- Interest Expense = ($ 3.000 / $ 400.000) x 100% = 0,75%

SMART CORONA COMPANY

Pro Forma Income Statement Berdasar Metode Persentase Penjualan
Per 31 Desember 2019

Sales Revenue $ 560.000

Less : Cost of Good Sold (70% x 560.000) $ 392.000
Gross Profit $ 168.000
Less : Operating Expenses (15% x 560.000) $ 84.000
Operating Profits / EBIT $ 84.000
Less : Interest Expense (0,75% x 560.000) $ 4.200
Earnings Before Taxes $ 79.800
Less : Income Tax Expenses (40% x 79.800) $ 31.920
Net Profit After Taxes / EAIT $ 47.880
Less : Dividend Paid $ 20.000
To retained earning $ 27.880
 SMART CORONA COMPANY
Pro Forma Balance Sheets
Per 31 Desember 2019

Assets Liabilities and Stockholder Equity

Cash $ 28.000 Accounts Payable $ 21.600
Accounts $ 60.000 Notes Payable $ 13.400
Receivable
Inventory $ 56.250 Accruals $ 15.200
Total Current Assets $ 144.250 Total Current Liabilities $ 50.200
Long Term Debt $ 30.000
Net Fixed Assets $ 100.000 Total Liabilities $ 80.200
Common Stock $ 100.000
Retained Earnings $ 69.580
Total $ 249.780
External Financing Required ($ 5.530)
Total Assets $ 244.250 Total Liabilities and Equity $ 244.250
 b. Memisahkan Fixed and Variable cost

SMART CORONA COMPANY

Pro Forma Income Statement

2018 Actual 2019 Pro Forma

Sales Revenue $ 400,000 $ 560.000
Less : Cost of Good Sold :
Fixed Cost $ 140.000 $ 140.000
Variable Cost (35% x $ 560.000) $ 140.000 $ 196.000
Gross Profit $ 120.000 $ 224.000
Less : Operating Expenses :
Fixed Cost $ 35.000 $ 35.000
Variable Cost (6,25% x $ 560.000) $ 25.000 $ 35.000
Operating Profits / EBIT $ 60.000 $ 154.000
Less : Interest Expense $ 3.000 $ 3.000
Earnings Before Taxes $ 57.000 $ 151.000
Less : Income Tax Expenses (40%) $ 22.800 $ 60.400
Net Profit After Taxes / EAIT $ 34.200 $ 90.600
Less : Dividend Paid $ 20.000 $ 20.000
To retained earning $ 14.200 $ 70.600
2. Menyusun Balance Sheet dan Income Statement
a. Total assets $ 12,000,000

b. Current ratio 160% (CL boleh dibulatkan dalam ribuan)

Current Asset / (4.200.000 – 3.000.169) x 100 = 160%
CA / 1.199.831 x 100= 160%

 Current Asset = 1,6 x 1.199.831 = 1.919.730

c. Debt ratio 35%
Total Hutang x 100% = 35 % => 12.000.000 x 35 % = 4.200.000 (Total Liability)
Total Aktiva

d. Long term debt to equity ratio : 38,46% (LTD boleh dibulatkan dalam ribuan)
Long term debt / 7.800.752 x 100 = 38,46%
 LTD = 7.800.752 x 0,3846 = 3.000.169

e. Earning per share $ 4,15

EA for CS x $1 = $ 4,15
Lembar saham
 EA for CS = $ 4,15 x 200.000 lembar = 830.000

f. Jumlah lembar saham 200.000 lembar

g. Net profit margin 8,3%

830.000 x 100% = 8,3% => Net Sales = 830.000 / 0,083 = 10.000.000
Net Sales

h. Preferred stock dividend $ 50,000

i. Return on equity 10,64% (Equity boleh dibulatkan dalam ribuan)

830.000 x 100% = 10,64%
Common Stock

 Common Stock Equity = 830.000 / 0,1064 = 7.800.752

j. Annual current purchase $ 6,300,000

k. Gross profit margin 25%

Net Sales – HPP x 100% = 25%
Net Sales

 HPP = 10.000.000 – HPP = 2.500.000 => HPP = 7.500.000

l. Account payable turnover 7x

 $ 6.300.000 x 1 = 7x
Hutang Dagang

 Hutang Dagang = 6.300.000 / 7 = 900.000

m. Inventory turnover 8,62 x (Inventory boleh dibulatkan dalam ribuan)

7.500.000 x 1 = 8.62 x
Persediaan

 Persediaan = 7.500.000 / 8,62 = 870.070

n. Book value $ 39

o. Account receivable turnover 12,5 x

10.000.000 / piutang = 12,5
Piutang = 10.000.000 / 12,5 = 800.000

p. Times interest earned ratio 6,5

1.300.000 / Interest = 6,5
=> Interest = 1.300.000/6.5 = 200.000

q. Profit margin 13%

EBIT / 10.000.000 = 0,13
 EBIT = 10.000.000 x 0,13 = 1.300.000

r. Tax 20%

COVIDIA MANUFACTURING
Income Statement
Per 31 Desember 2020

Net Sales $ 10.000.000

Cost Of Goods Sold $ 7.500.000
Gross Profit $ 2.500.000
Operating Expense $ 1.200.000
Earning Before Interest & Tax (EBIT) $ 1.300.000
Less : Interest Expense $ 200.000
Earning Before Tax (EBT) $ 1.100.000
Less : Taxes (20%) $ 220.000
Earning After Interest & Tax (EAIT) $ 880.000
Less : Preferred Stock Dividend $50.000
EA for CS $ 830.000
 COVIDIA MANUFACTURING
Balance Sheet
Per 31 Desember 2020

Asset Liability and Equity

Cash 249660 Account Payable 900.000
Accounts Receivable 800.000 Other Current Liability 299.831
Inventory 870.070 Current Liability 1.199.831
Current Asset 1.919.730 Long Term Debts 3.000.169
Fixed Asset 10.080.270 Total Liability 4.200.000
Common Stock Equity 7.800.000
Total Asset 12.000.000 Total Liability and Equity 12.000.000