CM 4221 Homework #2 2. (25 points) Using the balance sheet provided on page 4, calculate the company's net worth, working capital, current ratio, and the quick ratio for both 2012 and 2013. Provide a one to two sentence description for each of the accounting values calculated that discusses the positive or negative financial health of the company for 2012 and 2013. Make sure to show the formulas you used and show all of your calculations. November 30, Current Assets Cash and cash equivalents Accounts receivable Unbilled receivables CONSOLIDATED BALANCE SHEET ASSETS Refundable income taxes Current portion of notes receivable Investments in and advances to construction joint ventures Deferred income taxes Other Total Current Assets Investments and other assets Securities available for sale, at fair value Investments in mining ventures Land held for sale or lease Assets held for sale Cost in excess of not assets acquired Long-term notes receivable Deferred income taxes Other Total Investments and Other Assets Property and equipment, at cost Construction equipment Land and improvements Buildings and improvements Equipment and fixtures Total property and equipment Less accumulated depreciation Total Assets 2013 2012 $ $ $ in in uns in uns in un $ 48,310.00 $ 222,341.00 $ 30,035.00 $ 41,327.00 $ 101,364.00 $ 5,033.00 10,806.00 $ 3,000.00 $ 3,576.00 24,338.00 $ 1,846.00 $ 31,291.00 $ 314.00 $ 17,399.00 $ 459,249.00 $ 3,390.00 $ 85,721.00 $ $ is is in is in is in $ 30,494.00 $ $ 36,210.00 $ $ $ 8,266.00 $ 18,853.00 $ $ 140,677.00 $ 3,087.00 13,777.00 $ 7,935.00 31,355.00 $ $ 12,178.00 $ 836.00 $ 295,054.00 $ 32,864.00 $ 179,483.00 $ 99,608.00 $ $ 7,110.00 23,062.00 $ 30,388.00 $ 242,043.00 $(136,709.00) $ 28,374.00 $ $ 1,941.00 376.00 Property and equipment, not $ 85,334.00 $ 839,637.00 $ 130,499.00 $ (63,783.00) $ 66,716.00 $ 185,301.00 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ Subcontracts payable $ Billings in excess of costs and estimated earnings on uncompleted contracts Advances from customers $ 68,926.00 75,036.00 49,626.00 $ 10,195.00 $ 16,638.00 $ 4,789.00 $ 11,280.00 $ Estimated costs to complete long-term contracts $ 100,832.00 $ Accrued salary, wages, and benefits $ 49,136.00 Income taxes payable Other accrued liabilities Total Current Liabilities Non-current Liabilities Postretirement benefit obligation Accrued workers' compensation Panion and deferred compensation liabilities Environmental remediation obligations Long-term debt Deferred income taxes Total Non-current Liabilities Contingencies and commitments Redeemable preferred stock Stockholders' Equity Preferred stock Common Stock $ 8,235.00 $ 37,513.00 $ 8,718.00 301.00 $ $ 1,327.00 $ 400,604.00 $ 42,188.00 $ 53,433.00 $ $ 26,061.00 $ $ 20,363.00 $ $ 8,972.00 $ $ $ 3,042.00 $ $ 9,120.00 $ 109,029.00 $ 14,162,00 $ $ $ 18,000.00 $ $ $ $ 6,430 $ Capital in excess of par value $ 219,324 $ Stock purchase warrants $ 4,420 $ Retained earnings 111 606 94,874 $ 98,400 $ 267 35,788 Treasury stock $ (14,900) $ (2,214) Cumulative translation adjustments, not of income tax benefit $ (2,300) $ (346) Unrealized not gain on securities available for sale, net of income tax liability Minimum pension liability adjustment, not of income tax benefit $ 850 $ 176 $ (40) $ Total Stockholders' Equity $ 312,004 $ 128,951 Total Liabilities and Stockholders' Equity $ 839,637 $ 185,301