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Rent expense 55,000 Depreciation expense 8,000 Electricity expense 7,000 Supplies expense 6,000 Interest expense 5,000 Bad Debts expense 4,000 228,000 Net Operating Profit before Tax 105,000 Less Tax 30,000 Net profit $ 75,000 Fiona Follies Ltd. Statement of Changes in Equity For the Year Ended 30 June 2011 Capital, 1 July 2010 $ 25,000 Add: Net profit 75,000 Less: Dividends (34,000) Capital, 30 June 2011 66,000 9 Fiona Follies Ltd. Statement of Financial Position As at 1 July 2010 30 June 2011 ASSETS Current: Cash at bank $ 31,000 $ 33,000 Accounts receivable (net) 33,000 21,000 Inventory 135,000 123,000 Total current assets 199,000 177,000 Non-current: Equipment 160,000 180,000 Less: Accumulated depreciation – equipment (16,000) (24,000) Total non-current assets 144,000 156,000 Total assets $343,000 $333,000 LIABILITIES Current: Accounts payable 10,000 8,000 Bill payable 40,000 40,000 Salary payable 2,000 14,000 Total current liabilities 52,000 62,000 Non Current Long Term Loan 266,000 205,000 Total Liabilities 267,000 OWNERS’ EQUITY Capital 25,000 66,000 Total liabilities and owners’ equity $343,000 $333,000 Capital consists of 20,000 shares and the share price at 30, June 2011 was $30.00 10 Fiona Follies Ltd. Statement of Cash Flows For the Year Ended 30 June 2011 Cash Flow from Operating Activities Collections from customers 1,011,000 Less cash paid to suppliers, employees etc (864,000) Less tax paid (30,000) 117,000 Cash Flow from Investing Activities Purchase of Equipment (20,000) Cash Flow from Financing Activities Repayment of Loan (61,000) Dividends Paid (34,000) (95,000) Increase in Cash Flow (2,000) Cash on July 1, 2010 31,000 Cash on June 30, 2011 33,000 Required Dr Fiona has invited you to invest in her company. Before you invest you attempt to calculate the following ratios and undertake other analysis. The earnings per share, price earnings ratio, financial leverage ratio, total asset turnover ratio, net profit margin ratio, accounts receivable turnover ratio, gross profit margin ratio, inventory turnover ratio. Which ratios, if any were you not able to calculate, what information was missing? From your limited analysis, briefly state why you would or would not invest in this business. If you could ask for one piece of information or one financial statement (past present or future) about/for the business, what would it be and why would you ask for it? |
