Subject 1 (60%)

The following information is provided for the financial statement of the company

Gold Logistics (figures are in euro):

Balance Sheet Gold Logistics as at December 31, 202X

ASSETS
Cash & cash equivalents	?
Trade and other accounts receivable	?
Inventory	12,000
Current Assets	?
Land, plant & equipment	15,000
Intangible assets	?
Long-term investments	?
Noncurrent Assets	?
Total Assets	?
LIABILITIES & STOCKHOLDERS EQUITY
Short term liabilities	?
Current Liabilities	?
Long-term debt	?
Noncurrent Liabilities	?
Total Liabilities	?
Common stock	26,000
Current periods retained earnings	?
Stockholders Equity	?
Total Liabilities and Stockholders Equity	?

Income statement Gold Logistics as at December 31, 202X

	Total revenue (Net sales)	?
(-)	Cost of sales	?
	Gross profit	65,000
(-)	SGAs	?
	Earnings before interest & taxes (EBIT)	?
(+)	Interest income	2,000
(-)	Interest expense	0
	Pretax income	?
(-)	Taxes	?
	Net income	?

Also, the following information is provided for the company Gold Logistics at the end of the accounting period (figures are in euro):

• Land, plant & equipment are 3 times greater in value to Intangible assets
• current ratio = 5
• current liabilities / stockholders equity = 0.15
• opening inventory = 10,000
• cash ratio = 0.5
• net purchases = 52,000
• Long-term investments are 2 times greater in value to Intangible assets
• quick ratio = 3
• beginning retained earnings = 0

Using the information that there is no taxation and dividends decision:

1. Calculate the missing values in question marks (with available data & ratios) and fill the above balance sheet and income statement (45%)
2. Calculate Altmans Z score for the private company Gold Logistics (15%)