PERFORM A LIQUIDITY AND PROFITABILITY ANALYSIS ON THE FOLLOWING COMPANY UTILIZING THE FOLLOWING RATIOS: ASSET TURNOVER RETURN ON ASSESTS RETURN ON EQUITY statement of operations 12 Months Ended Jul. 31, 2020 Jul. 31, 2019 Revenues: Revenues $ 1,497,826,000 $ 1,684,392,000 Costs and expenses: Operating expense - personnel, vehicle, plant and other 493,055,000 468,868,000 Operating expense - equipment lease expense 33,017,000 Equipment lease expense, preadoption 33,073,000 Depreciation and amortization expense 80,481,000 78,846,000 General and administrative expense 45,752,000 59,994,000 Non-cash employee stock ownership plan compensation charge 2,871,000 5,693,000 Asset impairments 0 0 Loss on asset sales and disposals 7,924,000 10,968,000 Operating income 148,670,000 113,028,000 Interest expense (192,962,000) (177,619,000) Loss on extinguishment of debt (37,399,000) Other income (expense), net (460,000) 369,000 Loss before income taxes (82,151,000) (64,222,000) Income tax expense (benefit) 851,000 323,000 Net loss (83,002,000) (64,545,000) Net loss attributable to noncontrolling interest (503,000) (298,000) Net loss (82,499,000) (64,247,000) Less: General partner's interest in net loss (825,000) (642,000) Common unitholders' interest in net loss $ (81,674,000) $ (63,605,000) Basic and diluted net loss per common unit $ (0.84) $ (0.65) Cash distributions declared or paid per unit Consolidated Balance Sheets - USD ($) Jul. 31, 2020 Jul. 31, 2019 Current assets: Cash and cash equivalents $ 333,761,000 $ 11,054,000 Accounts and notes receivable, net 101,438,000 107,596,000 Inventories 72,664,000 80,454,000 Prepaid expenses and other current assets 35,944,000 42,275,000 Total current assets 543,807,000 241,379,000 Prepaid expenses and other current assets 35,944,000 42,275,000 Property, plant and equipment, net 591,042,000 596,723,000 Goodwill, net 247,195,000 247,195,000 Intangible assets, net 104,049,000 108,557,000 Operating lease, right-of-use assets 107,349,000 Other assets, net 74,748,000 69,105,000 Total assets 1,668,190,000 1,262,959,000 Current liabilities: Accounts payable 33,944,000 33,364,000 Short-term borrowings 0 43,000,000 Collateralized note payable 62,000,000 Current portion of long-term debt 859,095,000 631,756,000 Current operating lease liabilities 29,345,000 Other current liabilities 167,466,000 138,237,000 Total current liabilities 1,089,850,000 908,357,000 Long-term debt 1,646,396,000 1,457,004,000 Operating lease liabilities 89,022,000 Other liabilities 51,190,000 36,536,000 Contingencies and commitments 0 0 Partners' capital (deficit) Common unitholders (1,126,452,000) (1,046,245,000) General partner unitholder (71,287,000) (70,476,000) Accumulated other comprehensive income (loss) (2,303,000) (14,512,000) Total Ferrellgas Partners, L.P. partners' deficit (1,200,042,000) (1,131,233,000) Noncontrolling interest (8,226,000) (7,705,000) Total partners' capital (deficit) (1,208,268,000) (1,138,938,000) Total liabilities and partners' capital (deficit) 1,668,190,000 1,262,959,000

PERFORM A LIQUIDITY AND PROFITABILITY ANALYSIS ON THE FOLLOWING COMPANY UTILIZING THE FOLLOWING RATIOS: ASSET TURNOVER RETURN ON ASSESTS RETURN ON EQUITY statement of operations 12 Months Ended Jul. 31, 2020 Jul. 31, 2019 Revenues: Revenues $ 1,497,826,000 $ 1,684,392,000 Costs and expenses: Operating expense - personnel, vehicle, plant and other 493,055,000 468,868,000 Operating expense - equipment lease expense 33,017,000 Equipment lease expense, preadoption 33,073,000 Depreciation and amortization expense 80,481,000 78,846,000 General and administrative expense 45,752,000 59,994,000 Non-cash employee stock ownership plan compensation charge 2,871,000 5,693,000 Asset impairments 0 0 Loss on asset sales and disposals 7,924,000 10,968,000 Operating income 148,670,000 113,028,000 Interest expense (192,962,000) (177,619,000) Loss on extinguishment of debt (37,399,000) Other income (expense), net (460,000) 369,000 Loss before income taxes (82,151,000) (64,222,000) Income tax expense (benefit) 851,000 323,000 Net loss (83,002,000) (64,545,000) Net loss attributable to noncontrolling interest (503,000) (298,000) Net loss (82,499,000) (64,247,000) Less: General partner's interest in net loss (825,000) (642,000) Common unitholders' interest in net loss $ (81,674,000) $ (63,605,000) Basic and diluted net loss per common unit $ (0.84) $ (0.65) Cash distributions declared or paid per unit Consolidated Balance Sheets - USD ($) Jul. 31, 2020 Jul. 31, 2019 Current assets: Cash and cash equivalents $ 333,761,000 $ 11,054,000 Accounts and notes receivable, net 101,438,000 107,596,000 Inventories 72,664,000 80,454,000 Prepaid expenses and other current assets 35,944,000 42,275,000 Total current assets 543,807,000 241,379,000 Prepaid expenses and other current assets 35,944,000 42,275,000 Property, plant and equipment, net 591,042,000 596,723,000 Goodwill, net 247,195,000 247,195,000 Intangible assets, net 104,049,000 108,557,000 Operating lease, right-of-use assets 107,349,000 Other assets, net 74,748,000 69,105,000 Total assets 1,668,190,000 1,262,959,000 Current liabilities: Accounts payable 33,944,000 33,364,000 Short-term borrowings 0 43,000,000 Collateralized note payable 62,000,000 Current portion of long-term debt 859,095,000 631,756,000 Current operating lease liabilities 29,345,000 Other current liabilities 167,466,000 138,237,000 Total current liabilities 1,089,850,000 908,357,000 Long-term debt 1,646,396,000 1,457,004,000 Operating lease liabilities 89,022,000 Other liabilities 51,190,000 36,536,000 Contingencies and commitments 0 0 Partners' capital (deficit) Common unitholders (1,126,452,000) (1,046,245,000) General partner unitholder (71,287,000) (70,476,000) Accumulated other comprehensive income (loss) (2,303,000) (14,512,000) Total Ferrellgas Partners, L.P. partners' deficit (1,200,042,000) (1,131,233,000) Noncontrolling interest (8,226,000) (7,705,000) Total partners' capital (deficit) (1,208,268,000) (1,138,938,000) Total liabilities and partners' capital (deficit) 1,668,190,000 1,262,959,000

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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Question

PERFORM A LIQUIDITY AND PROFITABILITY ANALYSIS ON THE FOLLOWING COMPANY UTILIZING THE FOLLOWING RATIOS:

ASSET TURNOVER

RETURN ON ASSESTS

RETURN ON EQUITY

statement of operations	12 Months Ended
Jul. 31, 2020	Jul. 31, 2019
Revenues:
Revenues	$ 1,497,826,000	$ 1,684,392,000
Costs and expenses:
Operating expense - personnel, vehicle, plant and other	493,055,000	468,868,000
Operating expense - equipment lease expense	33,017,000
Equipment lease expense, preadoption		33,073,000
Depreciation and amortization expense	80,481,000	78,846,000
General and administrative expense	45,752,000	59,994,000
Non-cash employee stock ownership plan compensation charge	2,871,000	5,693,000
Asset impairments	0	0
Loss on asset sales and disposals	7,924,000	10,968,000
Operating income	148,670,000	113,028,000
Interest expense	(192,962,000)	(177,619,000)
Loss on extinguishment of debt	(37,399,000)
Other income (expense), net	(460,000)	369,000
Loss before income taxes	(82,151,000)	(64,222,000)
Income tax expense (benefit)	851,000	323,000
Net loss	(83,002,000)	(64,545,000)
Net loss attributable to noncontrolling interest	(503,000)	(298,000)
Net loss	(82,499,000)	(64,247,000)
Less: General partner's interest in net loss	(825,000)	(642,000)
Common unitholders' interest in net loss	$ (81,674,000)	$ (63,605,000)
Basic and diluted net loss per common unit	$ (0.84)	$ (0.65)
Cash distributions declared or paid per unit

Consolidated Balance Sheets - USD ($)	Jul. 31, 2020	Jul. 31, 2019
Current assets:

Cash and cash equivalents	$ 333,761,000	$ 11,054,000
Accounts and notes receivable, net	101,438,000	107,596,000
Inventories	72,664,000	80,454,000
Prepaid expenses and other current assets	35,944,000	42,275,000
Total current assets	543,807,000	241,379,000
Prepaid expenses and other current assets	35,944,000	42,275,000
Property, plant and equipment, net	591,042,000	596,723,000
Goodwill, net	247,195,000	247,195,000
Intangible assets, net	104,049,000	108,557,000
Operating lease, right-of-use assets	107,349,000
Other assets, net	74,748,000	69,105,000
Total assets	1,668,190,000	1,262,959,000
Current liabilities:
Accounts payable	33,944,000	33,364,000
Short-term borrowings	0	43,000,000
Collateralized note payable		62,000,000
Current portion of long-term debt	859,095,000	631,756,000
Current operating lease liabilities	29,345,000
Other current liabilities	167,466,000	138,237,000
Total current liabilities	1,089,850,000	908,357,000
Long-term debt	1,646,396,000	1,457,004,000
Operating lease liabilities	89,022,000
Other liabilities	51,190,000	36,536,000
Contingencies and commitments	0	0
Partners' capital (deficit)
Common unitholders	(1,126,452,000)	(1,046,245,000)
General partner unitholder	(71,287,000)	(70,476,000)
Accumulated other comprehensive income (loss)	(2,303,000)	(14,512,000)
Total Ferrellgas Partners, L.P. partners' deficit	(1,200,042,000)	(1,131,233,000)
Noncontrolling interest	(8,226,000)	(7,705,000)
Total partners' capital (deficit)	(1,208,268,000)	(1,138,938,000)
Total liabilities and partners' capital (deficit)	1,668,190,000	1,262,959,000

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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