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PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Pro G H A B C D E F 16 17 f. Perform a percent change analysis. What does this tell you about the change in profitability 18 and asset utilization? 2016 2015 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2016 20 Percent Change Balance Sheets 21 Assets 22 Cash and cash equivalents 23 Accounts Receivable 24 Inventories 25 Total current assets 126 Net fixed assets 127 Total assets 128 129 130 Liabilities and equity 131 Accounts payable 132 Accruals 133 Total current liabilities 134 Long-term debt 135 Total liabilities 136 Common stock 137 Retained Earnings 138 Total common equity 139 Total liabilities and equity 140 141 142 Percent Change Income Statements 142.la 2015 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 2016 2015 PROTECTED VIEW Be careful -tiles from the Internet can contain viruses. Unless you need to LUI, IL 5 Sale 0 Sl I A A B C D G H 40 2016 42 Percent Change Income Statements 43 Sales 44 COGS 45 Expenses excluding depr, and amort. 46 EBITDA 47 Depreciation and Amortization 148 EBIT 149 Taxes (40%) 150 Net Income 151 152 153 2015 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 154 165 166 A2 A B C D E 4 5 Vandelay Industries: December 31 Balance Sheets 7 8 Assets 9 Cash and cash equivalents 10 Accounts Receivable 11 Inventories 12 Total current assets 13 Net fixed assets 14 Total assets 2016 $72,000 439,000 894,000 $1,405,000 . 431,000 $1,836,000 2015 $92,000 460,000 932,000 $1,484,000 405,000 $1,889,000 15 16 Liabilities and equity 17 Accounts payable $432,000 18 Accruals 170,000 19 Total current liabilities $602,000 20 Long-term debt 404,290 21 Total liabilities $1,006,290 22 Common stock 575,000 23 Retained Earnings 254,710 24 Total common equity $829,710 25 Total liabilities and equity $1,836,000 26 27 Vandelay Industries: December 31 Income Statements $437,000 180,000 $617,000 525,000 $1,142.000 525,000 222,000 $747,000 $1.889,000 28 29 2016 $4,290,000 30 Sales 2015 $4,670,000 121 Coca 42 27 Vandelay Industries: December 31 Income Statements 28 2016 $4,290,000 $3,580,000 370,320 $339,680 159,000 $180,680 72,272 $108,408 2015 $4,670,000 $3,850,000 345,000 $475,000 145,000 $330,000 132,000 $198.000 2016 30 Sales 31 COGS 32 Expenses excluding depr. and amort. 33 EBITDA 34 Depreciation and Amortization 35 EBIT 36 Taxes (40%) 37 Net Income 38 39 40 Other Data 41 Year-end Stock Price 42 # of shares 43 44 Ratio Analysis 45 Liquidity Ratios 46 Current Ratio 47 Quick Ratio 48 Asset Management Ratios 49 Inventory Turnover 50 Days Sales Outstanding 51 Fixed Assets Turnover 52 Total Assets Turnover 53 Debt Management Ratios $23.57 23,000 2015 $25.45 21,000 2016 2015 Industry Avg 2.41 0.89 2.70 1.00 5.01 35.95 11.53 2.47 7.00 32.00 13.00 2.60 60 504 50 00 i PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to sta A2 4 A B C D E F 43 2016 2015 Industry Avg 2.41 0.89 2.70 1.00 5.01 35.95 11.53 7.00 32.00 13.00 2.60 2.47 44 Ratio Analysis 45 Liquidity Ratios 46 Current Ratio 47 Quick Ratio 48 Asset Management Ratios 49 Inventory Turnover 50 Days Sales Outstanding 51 Fixed Assets Tumover 52 Total Assets Turnover 53 Debt Management Ratios 54 Debt Ratio 55 Profitability Ratios 56 Profit Margin 57 Return on Assets 58 Return on Equity 59 Market Value Ratios 60 Earnings per share 61 Price-to-earnings ratio 62 Cash flow per share 63 Price-to-cash flow ratio 64 Book Value per share 60.5% 50.0% 4.24% 10.48% 26.51% 3.50% 9.109 18.2096 N/A 6.00 $9.43 2.70 $16.33 1.56 $35.57 a. Has Vandelay's liquidity position improved or worsened? Explain