2008 2009 Sales $ 7,233 $ 8,085 Depreciation 1,038 1,085 Cost of goods sold 2,487 2,942 Other expenses 591 515 Interest 485 579 Cash 3,792 4,041 Accounts receivable 5,021 5,892 Short-term notes payable 732 717 Long-term debt 12,700 15,435 Net fixed assets 31,805 33,921 Accounts payable 3,984 4,025 Inventory 8,927 9,555 Dividends 882 1,011 * 25. Financial Statements [LO1] Draw up an income statement and balance sheet for this s company for 2008 and 2009. % 26. Calculating Cash Flow [LO4] For 2009, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders.

2008 2009 Sales $ 7,233 $ 8,085 Depreciation 1,038 1,085 Cost of goods sold 2,487 2,942 Other expenses 591 515 Interest 485 579 Cash 3,792 4,041 Accounts receivable 5,021 5,892 Short-term notes payable 732 717 Long-term debt 12,700 15,435 Net fixed assets 31,805 33,921 Accounts payable 3,984 4,025 Inventory 8,927 9,555 Dividends 882 1,011 * 25. Financial Statements [LO1] Draw up an income statement and balance sheet for this s company for 2008 and 2009. % 26. Calculating Cash Flow [LO4] For 2009, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The income statement of Coronado Company is presented here. CORONADO COMPANY Income Statement For the Year Ended November 30, 2022 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses Administrative ovnoncoc $1,982.800 4,370,900 6,353,700 1,665,900 454.000 627 900 $7,536,500 4,687,800 2.848.700 1 001 900 ● 71°F Cloudy A O
Part B: Financial Planning - Pro Forma Statements 1. Using the financial statements for 2009 as your 'base', assume that Luxio's sales are 20% higher for 2010. Use this projection to prepare the pro forma statements following the requirements listed below. Assume the change in sales is permanent. 2. For the Income Statement: • Cost of Goods Sold rate is expected to remain constant; o 'Depreciation' and 'Interest paid' expenses are expected not to change; o The Tax rate is expected to decrease to 32%; and • Management is expected to increase the amount of dividends paid by 5% (therefore, the Dividend payout rate will increase by 5%). 3. For the Balance Sheet: o 'Current assets' change in direct proportion to sales; • 'Fixed assets' are being operated at 100% of capacity; • 'Accounts payable' changes in direct proportion to sales; o 'Notes payable' and 'Other' current liabilities do not change; • 'Common stock' remains unchanged; and • Use 'Long-term debt' as the plug variable. 4.…
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2008 2007 2006 Current Ratio 0.38 0.36 0.44 Debt Ratio 0.83 0.85 0.86 Debt/Equity Ratio 4.9 5.75 4.94 Times Interest Earned 2.71 2.69 2.41 Asset Turnover 1.29 1.33 1.37 Profit Margin 0.026 0.028 0.0072 Return on Assets 0.034 0.03 0.0099 Assets/Equity Ratio 5.91 6.75 5.72 Return on Equity 0.0053 0.0075 0.00041 What are the strengths and weaknesses of this company financial performance
Income Statement 2009 2010 2011 2012 2013 Revenue 393.3 366.3 428.6 513.7 599.2 Cost of Goods Sold (186.6) (175.8) (205.3) (248.6) (292.6) Gross Profit 206.7 190.5 223.3 265.1 306.6 Sales and Marketing (67.2) (65.8) (82.5) (102.9) (122.5) Administration (59.3) (59.1) (60.2) (67.6) (77.8) Depreciation & Amortization (27.5) (26.7) (36.2) (39.6) (39.2) EBIT 52.7 38.9 44.4 55 67.1 Interest Income (Expense) (34.7) (31.1) (32.9) (38.5) (37.6) Pretax Income 18 7.8 11.5 16.5 29.5 Income Tax (6.3) (2.7) (4.0) (5.8) (10.3) Net Income 11.7 5.1 7.5 10.7 19.2 Shares Outstanding (Millions) 55.5 55.5 55.5 55.5 55.5 Earnings per Share $0.21 $0.09 $0.14 $0.19 $0.35 Balance Sheet 2009 2010 2011 2012 2013 Assets Cash 47.4 66.7 92.8 79.1 89.3 Accounts Receivable 87.1 69.6 67.9 76.9 85.2 Inventory 34.7 32.5 28.1 32.8 33.5 Total Current Assets 169.2 168.8 188.8 188.8 208 Net Property, Plant & Equip. 248.8 238.7 312.4 341.9 351.2 Goodwill & Intangibles 358.3 358.3 358.3 358.3 358.3 Total Assets 776.3 765.8…
TABLE 2.5 2009-2013 Financial Statement Data and Stock Price Data for Mydeco Corp. Mydeco Corp. 2009-2013 (All data as of fiscal year end; in S million) Income Statement Revenue 2013 604.1 2009 2010 2011 2012 404.3 363.8 424.6 510.7 Cost of Goods Sold Gross Profit Sales and Marketing Administration (1883) (173.8) (206.2) (293.4) (246.8) 263.9 (102.1) (66.4) 216.0 190.0 2184 310.7 (66.7) (60.6) (27.3) (66.4) (59.1) (82.8) (59.4) (34.3) (120.8) (78.5) (38.6) Depreciation & Amortization EBIT Interest Income (Expense) (27.0) 37.5 38.4) 57.0 61.4 41.9 72.8 (33.7) 27.7 (32.9) 4.6 32.2) 9.7 (37.4) 19.6 (39.4) 33.4 (11.7) Pretax Income Income Tax (9.7) 18.0 (1.6) 3.0 (3.4) 6.3 (6.9) 12.7 Net Income 21.7 Shares eatstanding (milliona) Earnings per share 55.0 $0.33 55.0 $0.05 55.0 $0.11 55.0 $0.23 55.0 $0.39 Balance Sheet 2009 2010 2011 2012 2013 Assets Cash 48.8 68.9 69.8 86.3 69.8 28.4 77.5 76.9 85.0 Accounts Receivable 88.6 86.1 Inventory Total Current Assets Net Property, Plant & Equip.…
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Based on the forecast how much additional financing is needed?
Changes in Various RatiosPresented below is selected information for Brimmer Company: 2013 2012 Sales revenue $911,000 $840,000 Cost of goods sold 576,000 542,000 Interest expense 21,000 20,000 Income tax expense 28,000 24,000 Net income 62,000 52,000 Cash flow from operating activities 66,000 55,000 Capital expenditures 43,000 45,000 Accounts receivable (net), December 31 127,000 120,000 Inventory, December 31 197,000 160,000 Stockholders' equity, December 31 451,000 400,000 Total assets, December 31 731,000 660,000 RequiredCalculate the following ratios for 2013. The 2012 results are given for comparative purposes. Round answers to one decimal place. Use 365 days in a year. 2012 2013 1. Gross profit percentage 35.5% Answer % 2. Return on assets 8.3% Answer % 3. Return on sales 6.2% Answer % 4. Return on common stockholders' equity (no preferred stock was outstanding) 13.9% Answer % 5. Accounts receivable…
2013 2014 Sales$4,500 $4,775 Depreciation7501050COGS24222430Interest180215Cash200400Accts Receivables200300Notes Payable100150Long-term debt29561850Net fixed assets80009200Accounts Payable50100Inventory18001600Dividends225275Tax rate35%35% 1. What is the cash flow from operating activities? 2. What is the cash flow from financing activities? What is the days sales in accounts receivable or the AR period?