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2007 (Balance Sheet) Asset Current Asset -Cash Sst (short term equivalent) 210m - Ar (Account receivable) 474

74 m (they owes us money) -Inv (inventory) 520 m (it is not for sure cant sell anymore) Total Ca (Current Asset) 1,204 B Gross fixed 2501 Accumulation depreciation (604) it is for equipment contract account against gross fixed Net fixed ASSSET (book value) 1,897 B Liabilities Current Li (within 12 months) ALWAYS! -A/p (account payable) 295m -Note Pay 300m - Accrued taxes expenses 76m Total current Li 671m GOLDEN RULE 2007 Q1 (Jan 1st- Mar 31st, Q2(April-June 30, Q3 July 1-September 30, Q4 October 1-December 31) those are the 4 snapshots. Balance sheet is a snapshot at a specify point in time. Balance sheet Financial health ratio: CR = CA/ CL = 1.7 $ of current asset for each dollars of current liabilities L-T debt (Long- Term liabilities) 1,010 b (2007) Equity + SE Common Stock 50m Additional Paid 300m Retained Earnings 11070 m Total SE (share holder equity) 1420 Income Statement (Dec 31st) Revenue 2215 m Operating Cost 1430 m EBITDA (Depreciation & Amortization) 785 m Dep 180 m EBIT 605 m Interest 130 m

EBT (T= 40%) 1475 m Net income 285 m Dividend 90 m Income statement is not a snapshot. (entire year) (accrual basis) Retained earning (what you kept) net income Accumulated since the beginning of the company RoE (Return on Equity) = 285/(RE 2006 + RE 2007) -> shareholders equity/2 = 27.80% 2045 = RE shows you if you are better to have that cash distributed back to you. Interest = (1+i)T -> I= 6% and T=0.5 years, 1.02 % Two types of Interest APR (annual percentage rate) = 6% EAR= 6.14% EQR (Effective quarterly rate) = 1.5% Formula =

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