Soal TM 2 Pertemuan 24
Soal-soal
Financial Statement Analysis
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SOAL TUGAS MANDIRI 24
P 19-2
The comparative statement of Taylor Tool Company are presented
below.
Taylor Tool Company
Income Statement
For the Year Ended December 31
2005
Net sales
1,818,500
Cost of goods sold
1,011,500
Gross profit
807,000
Selling and administrative expenses
506,000
Income from operations
301,000
Other expenses and loses
Interest expense
18,000
Income before income taxes
283,000
Income tax expense
84,000
Net income
199,000
2004
1,750,500
996,000
754,500
479,000
275,500
14,000
261,500
77,000
184,500
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SOAL TUGAS MANDIRI 24
Taylor Tool Company
Balance Sheets
December 31
Assets
Current assets
Cash
Short-term investments
Account receivable (net)
Inventory
Total current assets
Plant assets (net)
Total assets
Liabilities and Stockholders’ Equity
Current liabilities
Account payable
Income taxes payable
Total current liabilities
Bonds payable
Totals liabilities
Stockholders’ equity
Common stock ($ par)
Retained earnings
Total stockholders’ equity
Total liabilities and stockholders’ equity
2005
2004
60,100
69,000
107,800
133,000
369,900
600,300
970,200
64,200
50,000
102,800
115,500
332,500
520,300
852,800
160,000
43,500
23,500
200,000
403,500
145,000
42,000
187,400
200,000
387,400
280,000
286,700
566,700
970,200
300,000
165,400
465,400
852,800
All sales were on account. The allowance for doubtful accounts was $3,200 on
December 31, 2005, and $3,000 on December 31,2004.
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SOAL TUGAS MANDIRI 24
Instructions
Compute the following ratios for 2005. (Weighted average common shares in
2005 were 57,000)
a) Earning per share
b) Return on common stockholders’ equity
c) Return on assets.
d) Current.
e) Acid-test.
f) Receivables turnover.
g) Inventory turnover.
h) Times interest earned.
i) Asset turnover.
j) Debt to total assets
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SOAL TUGAS MANDIRI 24
P 19-5
Selected financial data of Target and Wal-Mart for 2001 are
presented here (in millions)
Target
Corporation
Net sales
Cost of goods sold
Selling and administrative expenses
Interest expense
Other income (expense)
Income tax expense
Net income
Current assets
Noncurrent assets
Total Assets
Current liabilities
Long-term debt
Total stockholders’ equity
Total liabilities and stockholders’
equity
Total assets
Total stockholders’ equity
Current liabilities
Total liabilities
Wal-Mart
Stores, Inc
Income Statement Data for Year
$39,176
$217,799
27,246
171,562
9,962
36,173
464
1,326
712
2,013
.
842
.
3,897
.
374
.
6,854
Balance Sheet Data (End of Year)
$ 9,646
$ 28,246
. 14,506
. 55,205
$ 24,154
$ 83,452
$ 7,054
$ 27,282
9,240
21,067
. 7,860
. 35,102
$ 24,154
$ 83,452
Beginning of Year Balances
$ 19,490
$ 78,130
6,519
31,343
6,301
28,949
12,971
46,787
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SOAL TUGAS MANDIRI 24
Average net receivable
Average inventory
Net cash provided by operating
activities
Other Data
$1,916
4,349
1,992
$ 1,884
22,028
10,260
Instruction:
a) For each company, compute the following ratios.
(1) Current
(2) Receivable turnover
(3) Average collection period
(4) Iinventory turnover
(5) Days in inventory
(6) Profit margin
(7) Assets turnover
(8) Return on assets
(9) Return on common stockholders’ equity
(10) Debt to total assets
(11) Times internest earned
b) Compare the liquidity, solvency, and profitability of the two companies.
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SOAL TUGAS MANDIRI 24
P 19-9
The ledger of Iceland Corporation at December 31, 205, contains the
following sumary data.
Net sales
Selling expenses
Other revenues and gains
$1,700,000 Cost of goods sold
120,000 Administrative expenses
20,000 Other expenses and losses
$1,100,000
130,000
28,000
Your analysis reveals the following additional information that is not included in
the above data.
1) The entire puzzles division was discontinued on August 31. The income from
operations for this divisions before income taxes was $20,000. The puzzles
division was sold at a loss of $70,00 before income taxes.
2) On May 15, company property was expropriated for an interstate highway.
The settlement resulted in an extraordinary gain of $90,000 before taxes.
3) During the year, Iceland changed its depreciation method from double
declining balance to straight-line. The cumulative effect of the change on
prior years’ net income was an increase of $80,000 before taxes. (Assume
that depreciation the new method is correctly included in the ledger data).
4) The income tax rate on all items is 30%
Instructions:
Prepare an income statement for the year ended December 31, 2005.
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