FIN 3300 NAME Section 1: Problems (20 marks each) nt as of Dec 2017 (in S mn). C
ID: 2616960 • Letter: F
Question
FIN 3300 NAME Section 1: Problems (20 marks each) nt as of Dec 2017 (in S mn). Complete it! 1. ABC Ltd has following items on its Balance sheet & Income Statement as of Dec 2017 (in S mn) Complete it! Liabilities Assets Cash Account Rec Inventories 523049 488489 635697 Account Payable 6171 631049 Accrual Notes Payable Total Current Liabilities Long Term Debt Total Current Asset 1923469 1201839 262049 Total Liabilities Gross FA 2369556 400000 Depreciation ? Common Equity Net Fixed Asset Total Asset RE Total Equity Total L &E; 485703 Income Statement Sales 6000000 5000000 Cost of Goods Sold Other Expense Total Operating Profit excl. Dep& Amor Earnings before Interest & Tax (EBIT) Earnings Before Tax Net Income 156784 39824 -60176 Depreciation & Amortization Interest 100000 Tax 96667Explanation / Answer
Total Current Liabilities = Account Payable + Accrual + Notes Payable
= 523049 + 488489 + 635697
= 1647235
Long term debt = Total liabilities - Total Current Liabilities
= 2369556 - 1647235
= 722321
RE = Total Equity - Common Equity
= 485703 - 400000
= 85703
Total L&E = Total Liabilities + Total Equity
= 2369556 + 485703
= 2855259
Inventories = Total Current Asset - Cash - Account Rec
= 1923469 - 6171 - 631049
= 1286249
Net Fixed asset = Gross FA - Depreciation
= 1201839 - 262049
= 939790
Total Asset = Total Current Asset + Net Fixed asset
= 1923469 + 939790
=2863259
Income statement
Sales - COGS - Other Expense = Total Operating profit
6000000 - 5000000 - Other Expense = 156784
Other Expense = 843216
Total Operating profit - Depreciation = EBIT
Depreciation = 843216 - 39824 = 803392
EBIT - Tax = Net Income
-60176 - 96667 = -156843 = Net Income
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