Ratio Analysis: The ratio analysis portion of the exam will be due after the first exam. It should be submitted on Moodle prior to the start time for your class. This analysis will be worth 25 of the 100 exam points. No late work will be accepted. Students will obtain the most recent income statement and balance sheet for a corporation. It should not be Cisco, Target, or Apple and it is anticipated that students are not likely to choose the same company. Any evidence of collaboration on this assignment will result in an automatic zero for the entire exam grade!! The balance sheet and income statement for the three most recent years should be recreated (typed) in Excel similar to the information used for Target in class. Students will then use Excel to calculate all of the liquidity, leverage, asset utilization, and profitability ratios listed in section 4-9 of the textbook. Using historic share price data (found on finance.yahoo.com under Historical Prices tab), find the market price for the stock on the dates of the financial information. The number of shares outstanding can be found under Statistics on finance.yahoo.com for a particular company. Use that data to calculate the market value ratios for all three years. Students may exclude the ROIC ratio and EV/EBITDA ratio. All ratios must be calculated in Excel using the financial data. They should not be taken from a website. Once the ratios are calculated, students should briefly analyze the trends noted in the company's performance for each ratio and for each overall area (ie. Liquidity, leverage, etc.). Students should also identify significant trends in the balance sheet and income statement. Breakdown 9/30/2020 9/30/2019 9/30/2018 Total Assets 29,374,500 19,219,600 24,156,400 > Current Assets 7,806,400 5,653,900 12,494,200 > Total non-current assets 21,568,100 13,565,700 11,662,200 > Total Liabilities Net Minority Int... 37,173,900 25,450,600 22,980,600 > Total Equity Gross Minority Inte... -7,799,400 -6,231,000 1,175,800 Total Capitalization 6,854,500 4,934,800 10,259,700 Common Stock Equity -7,805,100 -6,232,200 1,169,500 Capital Lease Obligations 8,910,500 Net Tangible Assets -11,954,400 -10,504,800 -3,414,300 Working Capital 459,600 -514,800 6,810,000 Invested Capital 8,543,200 4,934,800 10,609,600 Tangible Book Value -11,954,400 -10,504,800 -3,414,300 Total Debt 25,258,800 11,167,000 9,440,100 Net Debt 11,997,400 8,480,400 683,800 Share Issued 1,173,300 1,184,600 1,309,100 Ordinary Shares Number 1,173,300 1,184,600 1,309,100 Breakdown 9/30/2020 9/30/2019 9/30/2018 > Operating Cash Flow 1,597,800 5,047,000 11,937,800 > Investing Cash Flow -1,711,500 -1,010,800 -2,361,500 > Financing Cash Flow 1,713,300 -10,056,900 -3,242,800 > End Cash Position 4,350,900 2,686,600 8,756,300 Income Tax Paid Supplemental Data 1,699,100 470,100 1,176,900 Interest Paid Supplemental Data 396,900 299,500 137,100 Capital Expenditure -1,483,600 -1,806,600 -1,976,400 Issuance of Capital Stock 298,800 409,800 153,900 Issuance of Debt 6,134,200 1,996,000 5,584,100 Repayment of Debt -967,700 -350,000 0 Repurchase of Capital Stock -1,698,900 -10,222,300 -7,133,500 Free Cash Flow 114,200 3,240,400 9,961,400 Breakdown 9/30/2020 9/30/2019 9/30/2018 > Total Revenue 23,518,000 26,508,600 24,719,500 Cost of Revenue 18,458,900 19,020,500 17,367,700 Gross Profit 5,059,100 7,488,100 7,351,800 > Operating Expense 3,541,200 3,572,400 3,545,300 Operating Income 1,517,900 3,915,700 3,806,500 > Net Non Operating Interest Inc... -397,300 -234,500 21,100 > Other Income Expense 43,800 785,000 1,952,400 Pretax Income 1,164,400 4,466,200 5,780,000 Tax Provision 239,700 871,600 1,262,000 > Net Income Common Stockhold... 928,300 3,599,200 4,518,300 Diluted NI Available to Com Stock... 928,300 3,599,200 4,518,300 Basic EPS 0 0.003 0.0035 Diluted EPS 0 0.0029 0.0032 Basic Average Shares 1,172,800 1,184,600 1,309,100 Diluted Average Shares 1,181,800 1,233,200 1,394,600 Ratio Analysis: The ratio analysis portion of the exam will be due after the first exam. It should be submitted on Moodle prior to the start time for your class. This analysis will be worth 25 of the 100 exam points. No late work will be accepted. Students will obtain the most recent income statement and balance sheet for a corporation. It should not be Cisco, Target, or Apple and it is anticipated that students are not likely to choose the same company. Any evidence of collaboration on this assignment will result in an automatic zero for the entire exam grade!! The balance sheet and income statement for the three most recent years should be recreated (typed) in Excel similar to the information used for Target in class. Students will then use Excel to calculate all of the liquidity, leverage, asset utilization, and profitability ratios listed in section 4-9 of the textbook. Using historic share price data (found on finance.yahoo.com under Historical Prices tab), find the market price for the stock on the dates of the financial information. The number of shares outstanding can be found under Statistics on finance.yahoo.com for a particular company. Use that data to calculate the market value ratios for all three years. Students may exclude the ROIC ratio and EV/EBITDA ratio. All ratios must be calculated in Excel using the financial data. They should not be taken from a website. Once the ratios are calculated, students should briefly analyze the trends noted in the company's performance for each ratio and for each overall area (ie. Liquidity, leverage, etc.). Students should also identify significant trends in the balance sheet and income statement. Breakdown 9/30/2020 9/30/2019 9/30/2018 Total Assets 29,374,500 19,219,600 24,156,400 > Current Assets 7,806,400 5,653,900 12,494,200 > Total non-current assets 21,568,100 13,565,700 11,662,200 > Total Liabilities Net Minority Int... 37,173,900 25,450,600 22,980,600 > Total Equity Gross Minority Inte... -7,799,400 -6,231,000 1,175,800 Total Capitalization 6,854,500 4,934,800 10,259,700 Common Stock Equity -7,805,100 -6,232,200 1,169,500 Capital Lease Obligations 8,910,500 Net Tangible Assets -11,954,400 -10,504,800 -3,414,300 Working Capital 459,600 -514,800 6,810,000 Invested Capital 8,543,200 4,934,800 10,609,600 Tangible Book Value -11,954,400 -10,504,800 -3,414,300 Total Debt 25,258,800 11,167,000 9,440,100 Net Debt 11,997,400 8,480,400 683,800 Share Issued 1,173,300 1,184,600 1,309,100 Ordinary Shares Number 1,173,300 1,184,600 1,309,100 Breakdown 9/30/2020 9/30/2019 9/30/2018 > Operating Cash Flow 1,597,800 5,047,000 11,937,800 > Investing Cash Flow -1,711,500 -1,010,800 -2,361,500 > Financing Cash Flow 1,713,300 -10,056,900 -3,242,800 > End Cash Position 4,350,900 2,686,600 8,756,300 Income Tax Paid Supplemental Data 1,699,100 470,100 1,176,900 Interest Paid Supplemental Data 396,900 299,500 137,100 Capital Expenditure -1,483,600 -1,806,600 -1,976,400 Issuance of Capital Stock 298,800 409,800 153,900 Issuance of Debt 6,134,200 1,996,000 5,584,100 Repayment of Debt -967,700 -350,000 0 Repurchase of Capital Stock -1,698,900 -10,222,300 -7,133,500 Free Cash Flow 114,200 3,240,400 9,961,400 Breakdown 9/30/2020 9/30/2019 9/30/2018 > Total Revenue 23,518,000 26,508,600 24,719,500 Cost of Revenue 18,458,900 19,020,500 17,367,700 Gross Profit 5,059,100 7,488,100 7,351,800 > Operating Expense 3,541,200 3,572,400 3,545,300 Operating Income 1,517,900 3,915,700 3,806,500 > Net Non Operating Interest Inc... -397,300 -234,500 21,100 > Other Income Expense 43,800 785,000 1,952,400 Pretax Income 1,164,400 4,466,200 5,780,000 Tax Provision 239,700 871,600 1,262,000 > Net Income Common Stockhold... 928,300 3,599,200 4,518,300 Diluted NI Available to Com Stock... 928,300 3,599,200 4,518,300 Basic EPS 0 0.003 0.0035 Diluted EPS 0 0.0029 0.0032 Basic Average Shares 1,172,800 1,184,600 1,309,100 Diluted Average Shares 1,181,800 1,233,200 1,394,600