TUGAS ANALISIS LAPORAN KEUANGAN

ARSITA LENI SEFINDRI/452276

Pertemuan ke-10

Exercise 9-4A

Lyon Corporation

Cash Forecast

For July, Year 6

Beginning cash balance 20

Cash Collections:

Beginning accounts receivable 20

Sales for month 150

170

Less: Ending accounts receivable 21 149

Cash available 169

Cash disburshments

Beginning accounts payable 18

Puechase (*) 115

133

Ending accounts payable (25% x 115) 29 104

Miscellaneous outlays 11

Cash Balance 54

Minimum cash balance desire 30

Excess cash $24

*Ending inventory 15

Cost of goods sold (5/6 x sales) 125

140

Less beginning inventory 25

Purchase 115
Problem 9-2

a.

INCOME STATEMENT

Best Buy Year 3 Year 2 Year 1

Estimate

Net sales 18,800 15,326 12,494

Cost of goods 15,048 12,267 10,101

Gross profit 3,752 3,059 2,393

Selling general & administrative expense 2,761 2,251 1,728

Depreciation & amortization expense 304 167 103

Income before tax 688 641 562

Income tax expense 263 245 215

Net income 425 396 347

Outstanding shares 208 208 200

RATIOS

Sales growth 22.67% 22.67%

Gross Profit Margin 19.96% 19.96%

Selling General & Administrative Exp / Sales 14.69% 14.69%

DEPRECIATION (depn exp / pr yr PPE gross) 15.28% 15.28%

Tax (Inc Tax / Pre-tax inc) 38.22% 38.22%

 BALANCE SHEET

Year 3 Year 2 Year 1

Estimate

Cash 196 746 751

Receivables 384 313 262

Inventories 2,168 1,767 1,184

Other 102 102 41

Total current assets 2,850 2,928 2,238

Property, plant & equipment 3,249 1,987 1,093

Accumulated depreciation 847 543 395

Net property & equipment 2,403 1,444 698

Other assets 466 466 59

Total assets 5,719 4,838 2,995

Accounts payable & accrued liabilities 3,034 2,473 1,704

Short-term debt & cmltd 114 114 16

Income taxes 136 127 65

Total current liab 3,284 2,714 1,785

Long term liabilities 122 122 100

Long term debt 67 181 15

Total long-term liabilities 189 303 115

Common stock 20 20 20

Capital surplus 576 576 247

Retained earnings 1,650 1,225 828

Shareholder equity 2,246 1,821 1,095

Total liabilities & net worth 5,719 4,838 2,995

RATIOS

AR turn 48.96 48.96 47.69

INV turn 6.94 6.94 8.53

AP turn 4.96 4.96 5.93

Tax Pay (Tax pay / tax exp) 51.84% 51.84% 30.23%

FLEV 2.55 2.66 2.74

Div/sh $0.00 $0.00 $0.00

CAPEX 1,262 1029 416

CAPEX/Sales 6.71% 6.71% 3.33%

 STATEMENT of CASH FLOW

Year 3 Estimate

Net income 425

Depreciation 304

Accounts receivable -71

Inventories -401

Accounts payable 561

Income taxes 9

Net cash flow from operations 827

CAPEX -1,262

Net cash flow from investing activities -1,262

Long term debt -114

Additional paid in capital 0

Dividends 0

Net cash flow from financing activities -114

Net change in cash -550

Beginning cash 746

Ending cash 196

b. Berdasarkan proyeksi kami, tampaknya Best Buy akan membutuhkan sekitar $ 550 Juta

pembiayaan eksternal untuk menghasilkan saldo kas sekitar $ 750 juta. Analis harus

mengalokasikan pembiayaan eksternal ini antara utang dan ekuitas untuk menjaga tingkat

leverage keuangan yang saat ini digunakan oleh Best Buy.

Problem 9- 5A

a. Laporan laba rugi pro forma untuk menggambarkan perkiraan posisi keuangan
tenlet corporation untuk periode enam bulan yang berahir pada 30 Juni tahun ke-2

Telnet Corporation

Pro Forma Income Statement ($000s)

Six Months Ended June 30, Year 2

Sales revenue ($250 x 6) $1,500

Cost of goods sold * 1,199

Gross margin 301

Selling and administrative expenses ($47.5 x 6) 285

Expected pre-tax income 16

Estimated income taxes (at 50%) 8

Expected net income $8

* Cost of good sold

Raw Material Inventory

Beginning (given) 0
Material Purchase ($125 x 6) 750 715* To. Work In Processs
Inventory
Ending (given) 35

Work in Process Inventory

Beginning 0
From raw materials inventory 715* 7 Prepaid expenses (given)
Labor ($30.5 x 6) 183 1,299* To Finish Goods Inventory
Variable overhead ($22.5 x 6 ) 135
Rent ($10 x 6 ) 60
Depreciation ($35 x 6) 210
Patent amortization ($.5 x 6) 3
Ending (given) 0
 Finished Goods Inventory
Beginning 0
From Work In Process 1,199 Cost of goods sold
Inventory 1,299*
Ending (given) 100

b. Laporan posisi keuangan pro forma per 30 juni tahun ke-2

Telnet Corporation
Pro forma Balance Sheet ($000s)
June 30, Year 2

ASSETS
Cash z $ 40 (minimum cash)
Accounts receivable 375 (45 days' sales)
{($250,000 x 6) / 180 days = $8,333 per day
x 45 days = $375,000}
Inventories ($35 + $100) 135
Prepaid expenses 7
Total current assets 557 (subtotal)
Equipment 1,200
Less accumulated depreciation 210 ($35 x 6)
Equipment, net 990 (subtotal)
Patents 40
Less amortization 3 ($500 x 6)
Patents, net 37 (subtotal)
Total Assets $1,584

LIABILITIES AND STOCKHOLDERS’ EQUITY

Accounts payable $ 125 (30 days' purchases)
{($125,000 x 6) / 180 days = $4,166 per day
x 30 days = $125,000}
Accrued taxes 8 (from Inc. Stmt.)
Stockholders' equity 1,300
Retained earnings 8 (from Inc. Stmt.)
Additional funds needed 143
Total liabilities and equity $1,584
c. Analisis perkiraan kas untuk periode enam bulan yang berahir pada 30 juni tahun ke2

Telnet Corporation

Forecasted Statement of Cash Flows

For Six Months Ended June 30, Year 2

Cash balance, beginning $ 60,000

Add collection of accounts receivable * 1,125,000 $1,185,000

Less disbursements for

Material purchases ** 625,000

Labor 183,000

Rent 60,000

Overhead 135,000

Selling expense 285,000 (1,288,000)

Tentative cash balance $ (103,000)

Minimum cash balance required 40,000

Additional borrowing required $ 143,000

Ending cash balance $ 40,000

Loan balance $ 143,000

* Collection of accounts receivable Jan Feb Mar Apr May June

Sales 250 250 250 250 250 250

Collections 0 125 250 250 250 250

Accumulated Collections 0 125 375 625 875 1,125

** Payment of accounts payable Jan Feb Mar Apr May June

Purchases 125 125 125 125 125 125

Payments 0 125 125 125 125 125

Accumulated Payments 0 125 250 375 500 625