For most of the problems where the solution is contained in one step, you can do your work in that yellow cell. Where multiple steps are required, use any of the cells around the solution cell to show work. You must show work for credit, meaning you can't just type a number in the solution cell with no calculations. Please do not place any values in the green shaded cells. Numbers in parentheses are points per question. Tax rate = 40% Year 1 Year 2 Change Income Statement Year 2 Cash 100 150 50 Sales 6,000 Accts Receivable 500 470 (30) Cost of Goods Sold 5.000 Inventory 800 900 100 Gross Profit 1,000 Current Assets 1,400 1,520 120 Selling, General & Admin. Exp (SG&A) 450 Gross PP&E 2,500 2.750 250 Depreciation Exp 50 Accum Depreciation (500) (550) (50) Earnings Before Interest & Taxes (EBIT) 500 Net PP&E 2,000 2,200 200 Interest Exp 50 Total Assets 3,400 3,720 320 Earnings Before Taxes 450 Income Tax Expense 180 Accounts Payable 400 480 80 Net Income 270 Accured Liabilities 100 90 (10) Dividends 40 Short-term Debt (int-bearing) 100 200 100 Current Liabilities 600 770 170 Long-term Debt 1.100 1,050 (50) Fill in the Operating section of the statement of cash flow: (8) Total Liabilities 1,700 1,820 120 Common Stock 400 370 (30) Operating Activities Year 2 Retained Earnings 1,300 1,530 230 Net Income 270 Total Stockholder's Equity 1,700 1,900 200 Depreciation Exp 50 Total Liab & Equity 3,400 3,720 320 Accts Receivable 1. Solve for Free Cash Flow: (8) Inventory Accts Payable Accrued Liabilities Cash Flow From Operations How much of the FCF did the stock (Equity) investors receive? (2) = FCF 150 470 6,000 5,000 1,000 450 Cash Accts Receivable Inventory Current Assets Gross PP&E Accum Depreciation Net PP&E Total Assets 50 900 1,520 2,750 (550) 2,200 3,720 Income Statement Sales Cost of Goods Sold Gross Profit Selling, General & Admin. Exp (SG&A) Depreciation Exp Earnings Before Interest & Taxes (EBIT) Interest Exp Earnings Before Taxes Income Tax Expense Net Income Dividends 500 50 450 180 480 270 40 90 200 Accounts Payable Accured Liabilities Short-term Debt (int-bearing) Current Liabilities Long-term Debt Total Liabilities Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities & Equity 770 1,050 1,820 370 1,530 1,900 3,720 This is not Net Profit Margin Calculate the following values. 2 points each: Tax rate = 40% Net Operating Margin Total Capital Capital Turnover ROIC Debt-to-Capital Deductions Forecast Assumptions: Sales Gross profit margin Net profit margin Accounts receivable days Inventory days PPE turnover $7,300 40.00% 8.00% 30 60 2.0 2 points each Forecast the following: Cost of goods sold Net income Accounts receivable Inventory PP&E n For most of the problems where the solution is contained in one step, you can do your work in that yellow cell. Where multiple steps are required, use any of the cells around the solution cell to show work. You must show work for credit, meaning you can't just type a number in the solution cell with no calculations. Please do not place any values in the green shaded cells. Numbers in parentheses are points per question. Tax rate = 40% Year 1 Year 2 Change Income Statement Year 2 Cash 100 150 50 Sales 6,000 Accts Receivable 500 470 (30) Cost of Goods Sold 5.000 Inventory 800 900 100 Gross Profit 1,000 Current Assets 1,400 1,520 120 Selling, General & Admin. Exp (SG&A) 450 Gross PP&E 2,500 2.750 250 Depreciation Exp 50 Accum Depreciation (500) (550) (50) Earnings Before Interest & Taxes (EBIT) 500 Net PP&E 2,000 2,200 200 Interest Exp 50 Total Assets 3,400 3,720 320 Earnings Before Taxes 450 Income Tax Expense 180 Accounts Payable 400 480 80 Net Income 270 Accured Liabilities 100 90 (10) Dividends 40 Short-term Debt (int-bearing) 100 200 100 Current Liabilities 600 770 170 Long-term Debt 1.100 1,050 (50) Fill in the Operating section of the statement of cash flow: (8) Total Liabilities 1,700 1,820 120 Common Stock 400 370 (30) Operating Activities Year 2 Retained Earnings 1,300 1,530 230 Net Income 270 Total Stockholder's Equity 1,700 1,900 200 Depreciation Exp 50 Total Liab & Equity 3,400 3,720 320 Accts Receivable 1. Solve for Free Cash Flow: (8) Inventory Accts Payable Accrued Liabilities Cash Flow From Operations How much of the FCF did the stock (Equity) investors receive? (2) = FCF 150 470 6,000 5,000 1,000 450 Cash Accts Receivable Inventory Current Assets Gross PP&E Accum Depreciation Net PP&E Total Assets 50 900 1,520 2,750 (550) 2,200 3,720 Income Statement Sales Cost of Goods Sold Gross Profit Selling, General & Admin. Exp (SG&A) Depreciation Exp Earnings Before Interest & Taxes (EBIT) Interest Exp Earnings Before Taxes Income Tax Expense Net Income Dividends 500 50 450 180 480 270 40 90 200 Accounts Payable Accured Liabilities Short-term Debt (int-bearing) Current Liabilities Long-term Debt Total Liabilities Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities & Equity 770 1,050 1,820 370 1,530 1,900 3,720 This is not Net Profit Margin Calculate the following values. 2 points each: Tax rate = 40% Net Operating Margin Total Capital Capital Turnover ROIC Debt-to-Capital Deductions Forecast Assumptions: Sales Gross profit margin Net profit margin Accounts receivable days Inventory days PPE turnover $7,300 40.00% 8.00% 30 60 2.0 2 points each Forecast the following: Cost of goods sold Net income Accounts receivable Inventory PP&E n