DISNEY COMPANY BALANCE SHEET Period Ending 27-Sep-14 28-Sep-13 29-Sep-12 Assets
ID: 2383087 • Letter: D
Question
DISNEY COMPANY BALANCE SHEET
Period Ending
27-Sep-14
28-Sep-13
29-Sep-12
Assets
CurrentAssets
CashAndCashEquivalents
3,421,000
3,931,000
3,387,000
ShortTermInvestments
-
-
-
NetReceivables
8,319,000
7,452,000
7,305,000
Inventory
1,574,000
1,487,000
1,537,000
OtherCurrentAssets
1,862,000
1,239,000
1,480,000
TotalCurrentAssets
15,176,000
14,109,000
13,709,000
LongTermInvestments
2,696,000
2,849,000
2,723,000
PropertyPlantandEquipment
23,332,000
22,380,000
21,512,000
Goodwill
27,881,000
27,324,000
25,110,000
IntangibleAssets
7,434,000
7,370,000
5,015,000
AccumulatedAmortization
-
-
-
OtherAssets
7,667,000
7,209,000
6,829,000
DeferredLongTermAssetCharges
-
-
-
TotalAssets
84,186,000
81,241,000
74,898,000
Liabilities
CurrentLiabilities
AccountsPayable
7,595,000
6,803,000
6,393,000
Short/CurrentLongTermDebt
2,164,000
1,512,000
3,614,000
OtherCurrentLiabilities
3,533,000
3,389,000
2,806,000
TotalCurrentLiabilities
13,292,000
11,704,000
12,813,000
LongTermDebt
12,676,000
12,776,000
10,697,000
OtherLiabilities
5,942,000
4,561,000
7,179,000
DeferredLongTermLiabilityCharges
4,098,000
4,050,000
2,251,000
MinorityInterest
3,220,000
2,721,000
2,199,000
NegativeGoodwill
-
-
-
TotalLiabilities
39,228,000
35,812,000
35,139,000
Stockholders'Equity
MiscStocksOptionsWarrants
-
-
-
RedeemablePreferredStock
-
-
-
PreferredStock
-
-
-
CommonStock
34,301,000
33,440,000
31,731,000
RetainedEarnings
53,734,000
47,758,000
42,965,000
TreasuryStock
-41,109,000
-34,582,000
-31,671,000
CapitalSurplus
-
-
-
OtherStockholderEquity
-1,968,000
-1,187,000
-3,266,000
TotalStockholderEquity
44,958,000
45,429,000
39,759,000
NetTangibleAssets
9,643,000
10,735,000
9,634,000
DISNEY COMPANY INCOME STATEMENT
Period Ending
27-Sep-14
28-Sep-13
29-Sep-12
TotalRevenue
48,813,000
45,041,000
42,278,000
CostofRevenue
26,420,000
25,034,000
23,468,000
GrossProfit
22,393,000
20,007,000
18,810,000
OperatingExpenses
ResearchDevelopment
-
-
-
SellingGeneralandAdministrative
8,565,000
8,365,000
7,960,000
NonRecurring
140,000
214,000
100,000
Others
2,288,000
2,192,000
1,987,000
TotalOperatingExpenses
-
-
-
OperatingIncomeorLoss
11,400,000
9,236,000
8,763,000
IncomefromContinuingOperations
TotalOtherIncome/ExpensesNet
-31,000
-69,000
239,000
EarningsBeforeInterestAndTaxes
12,246,000
9,620,000
9,260,000
InterestExpense
-
-
-
IncomeBeforeTax
12,246,000
9,620,000
9,260,000
IncomeTaxExpense
4,242,000
2,984,000
3,087,000
MinorityInterest
-503,000
-500,000
-491,000
NetIncomeFromContinuingOps
8,355,000
6,824,000
6,309,000
Non-recurringEvents
DiscontinuedOperations
-
-
-
ExtraordinaryItems
-
-
-
EffectOfAccountingChanges
-
-
-
OtherItems
-
-
-
NetIncome
7,501,000
6,136,000
5,682,000
PreferredStockAndOtherAdjustments
-
-
-
NetIncomeApplicableToCommonShares
7,501,000
6,136,000
5,682,000
“QUESTIONS”
Calculate the DuPont decomposition
Calculate the DuPont Decomposition for each of the three years for your company. The DuPont Decomposition is composed of
ROE = NI/Equity = NI/Sales *Sales/Assets * Assets/Equity
Therefore, you should have a total of twelve calculations (four ratios for each of the three years).
Determine liquidity.
Determine the company’s liquidity by calculating the current ratio, the quick ratio, and the cash ratio for each of the three years. This should be a total of nine calculations.
NI/Equity
NI/Sales
Sales/Assets
Assets/Equity
Current Ratio
Quick Ratio
Cash Ratio
2012
2013
2014
Has the company drastically increased or decreased its use of debt?
Has the company’s liquidity position changed over the three years?
Has ROE been rising or falling? If so, what has contributed to this change?
What trends do you see developing in the data?
Do you see any major changes in the financial status of the company over the time period?
Period Ending
27-Sep-14
28-Sep-13
29-Sep-12
Assets
CurrentAssets
CashAndCashEquivalents
3,421,000
3,931,000
3,387,000
ShortTermInvestments
-
-
-
NetReceivables
8,319,000
7,452,000
7,305,000
Inventory
1,574,000
1,487,000
1,537,000
OtherCurrentAssets
1,862,000
1,239,000
1,480,000
TotalCurrentAssets
15,176,000
14,109,000
13,709,000
LongTermInvestments
2,696,000
2,849,000
2,723,000
PropertyPlantandEquipment
23,332,000
22,380,000
21,512,000
Goodwill
27,881,000
27,324,000
25,110,000
IntangibleAssets
7,434,000
7,370,000
5,015,000
AccumulatedAmortization
-
-
-
OtherAssets
7,667,000
7,209,000
6,829,000
DeferredLongTermAssetCharges
-
-
-
TotalAssets
84,186,000
81,241,000
74,898,000
Liabilities
CurrentLiabilities
AccountsPayable
7,595,000
6,803,000
6,393,000
Short/CurrentLongTermDebt
2,164,000
1,512,000
3,614,000
OtherCurrentLiabilities
3,533,000
3,389,000
2,806,000
TotalCurrentLiabilities
13,292,000
11,704,000
12,813,000
LongTermDebt
12,676,000
12,776,000
10,697,000
OtherLiabilities
5,942,000
4,561,000
7,179,000
DeferredLongTermLiabilityCharges
4,098,000
4,050,000
2,251,000
MinorityInterest
3,220,000
2,721,000
2,199,000
NegativeGoodwill
-
-
-
TotalLiabilities
39,228,000
35,812,000
35,139,000
Stockholders'Equity
MiscStocksOptionsWarrants
-
-
-
RedeemablePreferredStock
-
-
-
PreferredStock
-
-
-
CommonStock
34,301,000
33,440,000
31,731,000
RetainedEarnings
53,734,000
47,758,000
42,965,000
TreasuryStock
-41,109,000
-34,582,000
-31,671,000
CapitalSurplus
-
-
-
OtherStockholderEquity
-1,968,000
-1,187,000
-3,266,000
TotalStockholderEquity
44,958,000
45,429,000
39,759,000
NetTangibleAssets
9,643,000
10,735,000
9,634,000
Explanation / Answer
Net income Sales Total assets shareholders equity Current assets current liability Inventories cash & cash equivalent 2012 7501000 48813000 84186000 44958000 15176000 13292000 1574000 3421000 2013 6136000 45041000 81241000 45429000 14109000 11704000 1487000 3931000 2014 5682000 42278000 74898000 39759000 13709000 12813000 1537000 3387000 NI/Equity NI/Sales Sales/Assets Assets/Equity Current Ratio Quick Ratio Cash Ratio 2012 16.68% 15.37% 57.98% 1.87 1.14 1.02 0.26 2013 13.51% 13.62% 55.44% 1.79 1.21 1.08 0.34 2014 14.29% 13.44% 56.45% 1.88 1.07 0.95 0.26
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