Hi there, I need help on this Case assignment. I know that I am suppose to use the forecasting formula in excel. This assignment is due tonight at 11:59pm CDT. Any help would be appreciated. Especially the second part (forecasting).

FIN 6020 (WIANT.v17f) Case 1: Parts 1 & 2 You have been provided with a set of financial statements for CJ Specialties, Inc. below. 1. Financial Analysis: Analyze the firm's historical financial statements. a. In your analysis, please comment on each of the following areas (Use the lecture video discussion on the topic as your guide): i. ii. iii. iv. v. vi. vii. viii. Growth (in sales) Liquidity Debt Management Asset Management, including Working capital management (A/R, Inv., A/P) Profitability, including Control of expenses Overall Performance (and Dupont analysis) Cash flow Other? (If there are other areas to evaluate, please do so.) b. Summarize your analysis. i. That is, how would you rate the firm overall? Why? ii. What are the key strengths and weaknesses? 2. Forecasting: a. Based on your analysis, develop a forecast for the firm's next 2 years. Justify your forecasts. b. Prepare proforma income statements, balance sheets, and cash flow statements. The Financial Analysis discussion is appropriate for a Word document. The Forecasts and Justifications may be either a Word Document or Excel worksheet as you find appropriate. The Proforma statements are appropriately completed using an Excel worksheet with equations allowing for some what if or scenario analysis. CJ Specialties , Inc FIN 6020: Dr. Wiant Page A.1 Thousands of dollars (000) Income Statements (000s) Sales Cost of goods sold Gross profit Operating Expenses Advertising Depreciation EBIT Interest EBT Taxes EAT Dividends Balance Sheets (000s) Cash Accounts receivable Inventory Total current assets 2009 2010 2011 2012 $6,786 (4,629) 2,157 (645) $7,465 (5,106) 2,359 (709) $8,211 (5,546) 2,665 (780) $9,196 (6,181) 3,015 (874) $10,576 (7,139) 3,437 (1,005) (25) 1,487 (195) 1,292 (581) $711 0 (25) 1,625 (187) 1,438 (647) $791 0 (25) 1,860 (178) 1,682 (757) $925 0 (25) 2,117 (170) 1,947 (876) $1,071 0 (25) 2,407 (161) 2,246 (1,011) $1,236 0 2009 2010 2011 2012 2013 $4,575 725 1,002 6,302 $4,967 859 1,007 6,833 $5,473 1,080 1,033 7,586 $6,180 1,230 1,118 8,527 $7,017 1,420 1,271 9,708 232 12,356 (1,012) 11,576 $18,409 232 12,356 (1,037) 11,551 $19,137 232 12,356 (1,062) 11,526 $20,053 232 12,356 (1,087) 11,501 $21,209 Land 232 Buildings and equipment 12,356 Less: accumulated depreciation (987) Total fixed assets 11,601 Total assets $17,903 Accounts payable Bank notes Total current liabilities Long-term debt Common stock Retained earnings Total liabilities & equity $ Proforma Proforma 127 1,290 1,417 7,157 4,200 5,129 $17,903 $ 210 1,161 1,371 6,918 4,200 5,920 $18,409 $ 380 1,032 1,412 6,680 4,200 6,845 $19,137 $ 593 903 1,496 6,441 4,200 7,916 $20,053 2013 $ 880 774 1,654 6,203 4,200 9,152 $21,209 2014 2015 2014 2015 FIN 6020: Dr. Wiant CJ Specialties , Inc Cash Flow Statements (000s) 2010 Operating activities: EAT Amortization of adv. program Depreciation Change in A/R Change in Inv Change in A/P Cash flow provided (used) $791 0 25 (134) (5) 83 $760 Investing activities: Advertising program Cash flow provided (used) Financing activities: Debt repayment Dividend payments Cash flow provided (used) Net change in cash 0 $0 Page A.2 Thousands of dollars (000) 2011 2012 2013 $925 0 25 (221) (26) 170 $873 0 $0 $1,071 0 25 (150) (84) 213 $1,075 0 $0 $1,236 0 25 (190) (154) 287 $1,204 0 $0 (368) 0 ($368) (368) 0 ($368) (368) 0 ($368) (368) 0 ($368) $392 $506 $707 $837 CJ Specialties , Inc FIN 6020: Dr. Wiant Page A.3 Common size Income Statements (000s) Sales Cost of goods sold Gross profit Operating Expenses Advertising Depreciation EBIT Interest EBT Taxes EAT Dividends Balance Sheets (000s) Cash Accounts receivable Inventory Total current assets Land Buildings and equipment Less: accumulated depreciation Total fixed assets Total assets Accounts payable Bank notes Total current liabilities Long-term debt Common stock Retained earnings Total liabilities & equity Industry 2013 2009 2010 2011 2012 2013 100.0% -68.2% 31.8% -9.5% 100.0% -68.4% 31.6% -9.5% 100.0% -67.5% 32.5% -9.5% 100.0% -67.2% 32.8% -9.5% 100.0% -67.5% 32.5% -9.5% 100.0% 72.1% 27.9% 12.2% -0.4% 21.9% -2.9% 19.0% -8.6% 10.5% 0.0% -0.3% 21.8% -2.5% 19.3% -8.7% 10.6% 0.0% -0.3% 22.7% -2.2% 20.5% -9.2% 11.3% 0.0% -0.3% 23.0% -1.8% 21.2% -9.5% 11.6% 0.0% -0.2% 22.8% -1.5% 21.2% -9.6% 11.7% 0.0% 2.2% 13.5% 5.8% 7.7% 3.5% 4.3% 2009 2010 2011 2012 2013 25.6% 4.1% 5.6% 35.2% 27.0% 4.7% 5.5% 37.1% 28.6% 5.6% 5.4% 39.6% 30.8% 6.1% 5.6% 42.5% 33.1% 6.7% 6.0% 45.8% 15.0% 9.2% 14.2% 38.5% 1.3% 69.0% -5.5% 64.8% 100.0% 1.3% 67.1% -5.5% 62.9% 100.0% 1.2% 64.6% -5.4% 60.4% 100.0% 1.2% 61.6% -5.3% 57.5% 100.0% 1.1% 58.3% -5.1% 54.2% 100.0% 16.4% 82.1% -36.9% 61.5% 100.0% 0.7% 7.2% 7.9% 40.0% 23.5% 28.6% 100% 1.1% 6.3% 7.4% 37.6% 22.8% 32.2% 100% 2.0% 5.4% 7.4% 34.9% 21.9% 35.8% 100% 3.0% 4.5% 7.5% 32.1% 20.9% 39.5% 100% 4.1% 3.6% 7.8% 29.2% 19.8% 43.2% 100% 5.5% 4.2% 9.7% 48.0% 16.0% 26.3% 100.0% Industry 2013 CJ Specialties , Inc FIN 6020: Dr. Wiant Page A.4 Industry 2013 Selected Ratios: 2009 2010 2011 2012 2013 Current ratio Quick ratio 4.45 3.74 4.98 4.25 5.37 4.64 5.70 4.95 5.87 5.10 3.95 2.49 ROE ROA 7.6% 4.0% 7.8% 4.3% 8.4% 4.8% 8.8% 5.3% 9.3% 5.8% 8.1% 3.4% Sales/Total assets Sales/Fixed assets 0.38 0.58 0.41 0.64 0.43 0.71 0.46 0.80 0.50 0.92 0.80 1.30 Total debt/Equity Long-term debt/Equity 0.92 0.77 0.82 0.68 0.73 0.60 0.66 0.53 0.59 0.46 1.23 1.14 9.36 39.00 8.69 42.00 7.60 48.00 7.48 48.80 7.45 49.00 8.69 42.00 4.62 79.00 5.07 72.00 5.37 68.00 5.53 66.00 5.62 65.00 5.62 65.00 36.50 10.00 24.33 15.00 14.60 25.00 10.43 35.00 8.11 45.00 10.43 35.00 10.6% 11.4% 10.8% Accounts receivable T.O. Average collection period Inventory T.O. Days sales in inventory Accounts payable T.O. Days' payables 8.3% 8.8% 9.7%