Excel Assignment.

Excel Assignment.

Marks            WangQiuxiang652675

1) Do income statements for                    2014        8

2) Do Balance Sheets for                    2014        8

3) Do a pro forma Income Statement for                    2015        10

4) Do a pro forma Balance Sheet for                    2015        10

5) Do Cash Flow Statement for                    2014        10

6) Do ratios for                2013    2014        10

7) Do pro forma Ratios for                    2015        10

8) Do a pro forma cash budget for                    2015        14

9) Do breakeven questions for                 2014    2015        10

10) Do the theory problem below                            10

Total                            100

Theory Problem

It is June        2015        You work at this company.

One of the owners would like to sell some of her shares so she can buy a cottage.

She is offering to sell you 100,000 shares for                      $3.50     each

Assume you have the money to buy them.

Do you buy them ?

Give me reasons for your answer based on such things as book value, return on

investment, trends, cash flow, SME Benchmarking and so on.

2014 Data

WangQiuxiang652675            2014        Other Info        2014        2013        2015

Accounts payable             $980,882         Common Stock         400,000     shares     400,000     shares     400,000     shares

Accounts receivable             $630,628

Amortization expense             $38,000

Beginning Inventory             $760,000         Notes Payable        current

Cash             $343,828         Sales on Credit        90%    percent of net sales

Common stock             $100,000

Ending Inventory             $964,831         Share Price    2013     $1.60     per share    Share Prices based on accounting department’s estimates.

Freight In             $39,660         Share Price    2014     $2.75     per share

Interest expense             $63,401

GIC’s             $300,000         The directors have decided that no new shares will be issued/sold in 2015

Mortgage payable             $911,115

Net Purchases             $2,757,002

Net Sales             $5,717,665

Notes payable             $200,000         Tax rate        40%    Of Net Income    Taxes on the year’s profits are paid in December

Prepaid expenses             $42,089         Amortization Expense        4%     declining balance

Plant and Equipment             $3,900,000

Salaries             $883,718

Utilities             $2,879

Insurance             $2,787

Transport             $20,694

Repairs & Maintenance             $9,585

Advertising             $26,810

Misc. Expense             $49,701

Direct Wages and Expenses             $1,135,500

Comon Stock Dividends             $60,000

2015 Projected Data

Net Sales    12%    increase        Mortgage payments for the year:    2014        2015        2016

Direct Wages & Expenses    11%    increase            Interest    Principal    Interest    Principal    Interest    Principal

Salaries    1.00%    increase            4,499.65    1,989.21    4,378.51    2,110.35     4,250.79     2,238.07

4,489.83    1,999.03    4,368.09    2,120.77     4,240.11     2,248.75

Utilities    2.50%    increase            4,479.96    2,008.90    4,357.61    2,131.25     4,229.43     2,259.43

Insurance    3.00%    increase            4,470.04    2,018.82    4,347.09    2,141.77     4,218.74     2,270.12

Transport    6.00%    increase            4,460.06    2,028.80    4,336.51    2,152.35     4,208.06     2,280.80

R&M    2.00%    increase            4,450.05    2,038.81    4,325.88    2,162.98     4,197.38     2,291.48

Advertising     $4,000     decrease            4,439.98    2,048.88    4,315.20    2,173.66     4,186.70     2,302.16

Misc    2.00%    decrease            4,429.86    2,059.00    4,304.46    2,184.40     4,176.01     2,312.85

Freight-in    10.00%    increase            4,419.69    2,069.17    4,293.68    2,195.18     4,165.33     2,323.53

Net Purchases    11%    increase            4,409.47    2,079.39    4,282.84    2,206.02     4,154.65     2,334.21

Common Stock Dividends     $20,000     increase            4,399.20    2,089.66    4,271.94    2,216.92     4,143.96     2,344.90

Amortization Expense    4.00%    declining balance            4,388.88    2,099.98    4,260.99    2,227.87     4,133.28     2,355.58

Capital purchases     $30,000     new roof in June to be added to plant & equipment            53,336.67    24,529.65    51,842.80    26,023.52    50,304.45    27,561.87

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