A historical income statement and balance sheet for Boeing are given. Boeing Company BA 097023105 2108601 NYSE
Question:
A historical income statement and balance sheet for Boeing are given.
Boeing Company | ||||
BA 097023105 2108601 NYSE Common stock | ||||
Source: FactSet Fundamentals | ||||
DEC '16 | DEC '17 | DEC '18 | DEC '19 | |
INCOME STATEMENT | ||||
Sales | 94,571 | 94,005 | 101,127 | 76,559 |
Cost of Goods Sold (COGS) incl. D&A | 80,790 | 76,612 | 81,490 | 72,068 |
Gross Income | 13,781 | 17,393 | 19,637 | 4,491 |
SG&A Expense | 8,243 | 7,274 | 7,836 | 6,427 |
EBIT (Operating Income) | 5,538 | 10,119 | 11,801 | -1,936 |
Nonoperating Income - Net | 391 | 345 | 278 | 1,201 |
Interest Expense | 306 | 360 | 475 | 722 |
Unusual Expense - Net | 55 | -3 | 0 | 802 |
Income Taxes | 673 | 1,649 | 1,144 | -1,623 |
Other After-Tax Adjustments | -3 | -6 | -7 | 0 |
Consolidated Net Income | 4,892 | 8,452 | 10,453 | -636 |
Minority Interest | 0 | 0 | 0 | 0 |
Net Income | 4,892 | 8,452 | 10,453 | -636 |
Boeing Company | ||||
BA 097023105 2108601 NYSE Common stock | ||||
Source: FactSet Fundamentals | ||||
DEC '16 | DEC '17 | DEC '18 | DEC '19 | |
BALANCE SHEET | ||||
Assets | ||||
Cash & Short-Term Investments | 10,029 | 9,992 | 8,564 | 10,030 |
Short-Term Receivables | 9,260 | 11,397 | 14,364 | 12,471 |
Inventories | 43,199 | 61,388 | 62,567 | 76,622 |
Other Current Assets | 0 | 2,417 | 2,335 | 3,106 |
Total Current Assets | 62,488 | 85,194 | 87,830 | 102,229 |
Net Property, Plant & Equipment | 12,807 | 12,672 | 12,645 | 13,684 |
Total Investments and Advances | 1,317 | 1,260 | 1,087 | 1,092 |
Long-Term Note Receivable | 4,272 | 3,249 | 2,662 | 2,380 |
Intangible Assets | 7,864 | 8,132 | 11,269 | 11,398 |
Deferred Tax Assets | 332 | 321 | 284 | 683 |
Other Assets | 917 | 1,534 | 1,582 | 2,159 |
Total Assets | 89,997 | 112,362 | 117,359 | 133,625 |
Liabilities & Shareholders' Equity | ||||
ST Debt & Curr. Portion LT Debt | 384 | 1,335 | 3,190 | 7,592 |
Accounts Payable | 11,190 | 12,202 | 12,916 | 15,553 |
Income Tax Payable | 89 | 380 | 485 | 670 |
Other Current Liabilities | 38,471 | 60,731 | 64,999 | 73,497 |
Total Current Liabilities | 50,134 | 74,648 | 81,590 | 97,312 |
Long-Term Debt | 9,568 | 9,782 | 10,657 | 20,940 |
Provision for Risks & Charges | 25,859 | 22,016 | 19,907 | 20,816 |
Deferred Tax Liabilities | 1,338 | 2,188 | 1,736 | 413 |
Other Liabilities | 2,221 | 2,015 | 3,059 | 2,444 |
Total Liabilities | 89,120 | 110,649 | 116,949 | 141,925 |
Common Equity | 817 | 1,656 | 339 | -8,617 |
Total Shareholders' Equity | 817 | 1,656 | 339 | -8,617 |
Accumulated Minority Interest | 60 | 57 | 71 | 317 |
Total Equity | 877 | 1,713 | 410 | -8,300 |
Total Liabilities & Shareholders' Equity | 89,997 | 112,362 | 117,359 | 133,625 |
You will perform a financial statement analysis using the ratios. Calculate the following for each historical year using Excel formulas and functions.
1. Annual growth rate in sales (percent change in sales)
2. Current ratio
3. Quick ratio
4. Days sales outstanding (DSO)
5. Days inventory outstanding (DIO)
6. Days payables outstanding (DPO)
7. Gross profit margin
8. Operating profit margin
9. Net profit margin
10. Debt-to-assets (in this case, debt refers to all liabilities)
11. Debt-to-equity (in this case, debt refers to all liabilities and equity refers to all sources of equity)
12. Times interest earned (TIE)
2014 | 2015 | 2016 | 2017 | 2-yr Average | ||
Day Count | 365 | |||||
Sales Growth | ||||||
Annual Growth Rate | n/a | |||||
Liquidity Ratios | ||||||
Current Ratio | ||||||
Quick Ratio | ||||||
Efficiency Ratios | ||||||
Days Sales Outstanding | ||||||
Days Inventory Outstanding | ||||||
Days Payables Outstanding | ||||||
Profitability Ratios | ||||||
Gross Profit Margin | ||||||
Operating Profit Margin | ||||||
Net Profit Margin | ||||||
Leverage Ratios | ||||||
Financial Accounting
ISBN: 978-0077862268
2nd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann