mock exam Financia Statement Analysis 2015, Apuntes de Administración de Empresas

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FINANCIAL STATEMENT ANALYSIS (UAB)

MOCK PRACTICAL EXAM 2015

PIN, SU PIN LIU 15-

FINANCIAL STATEMENT ANALYSIS

SECOND YEAR

Mock Practical Exam

STUDENT NAME……………………………………………………………………

STUDENT ID….…………..…………… Group…………………………………

PROFESSOR………….…………..…………….

Departament d'Economia de l'Empresa Edifici B 08193 - Bellaterra (Barcelona) Tel. 93 581 12 09 Fax 93 581 25 55

2. In 2012, Jaycox Custom Bikes had net income of $575,000. Jaycox also recorded $215,000 in depreciation. The company also had the following changes in its balance sheet accounts. Accounts Receivable $26,000 increase Inventories 11,000 decrease Accounts Payable 19,000 decrease

Compute the net cash provided by operating activities using the indirect method. (1. points)

3. Whispering Woods Retreat has net income of $400,000. The company's tax rate is 40%. The company had 100,000 shares of common stock outstanding throughout the year. The company paid cash dividends on preferred stock 30,000. Prepare the earnings per common share ratio for Whispering Woods Retreat (0. point).

Logell Paper Products Income Statement For the Year Ended December 31, 2012

Sales $973, Less: Cost of Goods Sold 706, Gross Profit 266, Less: Operating Expenses: Wages Expense $170, Depreciation Expense 10, Rent Expense 27, Total Operating Expenses 207, Operating Income 59, Less: Other Expenses: Interest Expense 15, Income Before Taxes 44, Less: Income Tax Expense 17, Net Income $ 26,

Required (0.5 points): What is the return on sales?

5. Telder Amusement Park issued common stock for $650,000 on January 1, 2012. The company bought fixed assets for $435,000 cash and inventory for $50,000 cash. Later that same year, the company sold fixed assets for $10,000 more than their book value of $65,000. Half of the inventory was sold for $98,350 during the year. On December 15, cash was used to purchase $49,000 worth of Allen Food Services common stock, which Telder regarded as a long-term investment. Prepare the cash flows from investing activities of the statement of cash flows for Telder Amusement Park (1 point).

Cartell Paper Products Income Statement For the Year Ended December 31, 2012

Sales $147, Cost of Goods Sold 63, Gross Profit 83, Less Operating Expenses: Wage Expense $ 40, Supply Expense 3, Insurance Expense 3, Depreciation Expense 3, Amortization Expense 1, Rent Expense 5,400 57, Operating Income 26, Interest Expense 2, Income before Taxes 24, Income Tax Expense 10, Net Income $ 13,

Required (2 points):

a. cash collected from customers in 2012?

b. cash paid to suppliers of inventory in 2012?

c. cash paid to employees in 2012?

d. cash paid for income taxes in 2012?

7. Montvale Company has the following information available:

What is the average collection period in days for Montvale in 2013? Has the average

• Credit Sales, For the Year Ending December 31, 2013 $
• Credit Sales, For the Year Ending December 31, 2012 $
• Accounts Receivable, December 31, 2013 $
• Accounts Receivable, December 31, 2012 $
• Accounts Receivable, December 31, 2011 $
• Cost of Goods Sold, For the Year Ending December 31, 2013 $
• Cost of Goods Sold, For the Year Ending December 31, 2012 $
• Inventory, December 31, 2013 $
• Inventory, December 31, 2012 $
• Inventory, December 31, 2011 $

9. Based on the information for the following three companies, compute the number of days' sales in receivables for 2X13 for each company assuming 365 days in a year. (0.5 point)

Hadman Teltor Comdok Net credit sales 2X13 $122,000 $98,000 $178, 2X12 120,000 99,000 169, Cost of goods sold 2X13 54,000 44,000 78, 2X12 51,000 39,000 61, Accounts receivable 2X13 14,000 21,000 19, (ending balance) 2X12 16,000 18,000 13, Inventory 2X13 26,000 19,000 9, (ending balance) 2X12 20,000 20,000 13,

10. Review the financial information of this company and comment on (a) signs of financial strength on stockholders’ equity and (b) warning signs

or signs of financial weakness on liabilities using trend analysis. (2 points)

McDONALD’s (MCD)

BALANCE SHEET

($ in millions)

ASSETS

12/31/

12/31/

12/31/

12/31/

Cash and cash equivalents

$^

2,387.

$^

1,796.

$^

2,063.

$ 1,981.

Accounts receivable

1,179.

1,060.

1,053.

Inventories

Other current assets

Property, plant, and equipmt

$34,482.

$33,440.

$31,152.

$32,203.

Accumulated depreciation

(12,421.8)

(11,909.0)

(10,897.9)

(11,219.0)

PPE, net

22,060.

21,531.

20,254.

20,984.

Goodwill

2,586.

2,425.

2,237.

2,301.

Long-term investments

1,335.

1,212.

1,222.

1,156.

Other noncurrent assets

1,624.

1,639.

1,229.

1,367.

TOTAL ASSETS

$31,975.

$30,224.

$28,461.

$29,391.

LIABILITIES Accounts payable

$^

$

$^

$

Short-term debt

1,126.

Other current liabilities

1,980.

2,352.

1,917.

2,747.

Long-term debt

11,497.

10,560.

10,186.

7,310.

Other noncurrent liabilities

2,919.

2,642.

2,355.

2,303.

STOCKHOLDERS’EQUITY Common stock, par

Additional paid-in capital

5,196.

4,853.

4,600.

4,226.