Total Current Assets Total Assets Noa Current Liabilities Long term debt Total Non Current Liabilities Current Liabilites Short term borrowings Accounts payable Accruals Total Current Liabilities 184099 1642415 2.30444 134.49 410,26 372931 410,76 372,911 2AX700 296,149 636,318 41461 10674 101,36 101164 $14325 Total Liabilities Shareholders' Equity Common stock (100,000 shares) Retained eaming Total Shareholders' Equity 1,442,633 1,387,05 550,000 $50,000 101,36 65136 Total Liabilities and Shareholders' Equity 2.104.44 1840, 2019 (RM)2018 (RM Sales 2.325,96 2.220.60 -Cost of goods sold 1369,32 145582 287663 271,820 Other expenses Total operating costs excluding depreciation and amortization Depreciation and amortization 2156,989 1,929,69 25.363 26.341 2.182.357 1956 034 Total operating costs EBIT 143615 264.56 (-) Interest expense 31,422 13MC EBT 112.19 250.26 Taxes (30% 33,656 25.230 Net income 78,535 175337 Required: Calculate the after tax operating income (ie. after-tax EBIT) for 2018 and 2019. marks) (5 Calculate the net working capital (NWC) that is supported by non-free sources for 2018 and 2019, and the changes in NWC between these two years. (5 marks) What is free cash flow (FCF)? Calculate the FCF for 2019. In your opinion, is a negative FCF always a bad sign? Explain using an appropriate example. marks) The following table relates to Stock ABC's return: Demand for Company Probability of this demand Rate of if this (5 ABC's products Weak occurring 0.15 demand o 1589) Below average 0175 19% Average 0.35 Above average 0.175 26% Strong 0.15 1.0 Required: Calculate Stock ABC's expected return, standard deviation, and coefficient (10 marks) [Total: 25 Marks] of variation. Question 2 The following are CBA Bhd.'s year end statement of financial position and statement of profit and loss for 2018 and 2019: 2019 (RM2018 (RM Non Current Assets: Gross Non Current assets 317,503 Less accumulated depreciation 50 3431 Net Non Current assets 363,45 1979 Current Assets Cash and equivalent Accounts receivable Inventories 201323 102024 834979 Total Current Aassets Total Assets Non Current Liabilities Long term debt Total Non Current Liabilities Current Liabilites Short term bomowings 943374 715414 2.104.44 1840.4 419,799 372.931 410,76 296.349 Accounts payable Accruals Total Current Liabilities Total Liabilities Shareholders' Equity Common stock (100,000 shares) Retained eaming Total Shareholders' Equity 636318 414611 10624 163363 1031864 814323 144263 1,187,05 550,000 $50,000 10135 653.35 Total Liabilities and Shareholders' Equity 2.104.44 1840.40 Sales -) Cost of goods sold Other expenses Total operating costs excluding depreciation and amonization Depreciation and amination Total operating costs Interest expense EBT Net income -Taxes(30%) 2019 (RM2018 (RM) 2.325.96 1369326 LA5532 2.220,607 2.156999 1929,7 25 M2 212.35 M Lau 143615 264,569 31.423 13,802 112.193 258.767 31.658 78535 175,537 Required: Calculate the after tax operating income (ie. after-tax EBIT) for 2018 and 2019. marks) (5 Calculate the net working capital (NWC) that is supported by non-free sources for 2018 and 2019, and the changes in NWC between these two years. (5 marks) What is free cash flow (FCF)? Calculate the FCF for 2019. In your opinion, is a negative FCF always a bad sign? Explain using an appropriate example. marks) The following table relates to Stock ABC's return: Demand for Company Probability of this demand Rate of this (5 ABC's t Weak Below average 0.15 0175 demand (50%) Total Liabilities and Shareholders' Equity 2,194,44% 1,840,40% Sales (-) Cost of goods sold Other expenses Total operating costs excluding depreciation and amortization Depreciation and amortization Total operating costs EBIT (-) Interest expense EBT (-) Taxes (30%) Net income Required: 2019 (RM)2018 (RM) 2,325,967 2,220,607 1,869,326 1,655,827 287,663 273,870 2,156,989 1,929,697 26341 25.363 2.182.352 1956.038 143,615 264,569 31,422 13,802 112.193 250.767 33.658 75.230 78,535 175,537 (0) Calculate the after tax operating income (i.e. after-tax EBIT) for 2018 and 2019. marks) (5 Calculate the net working capital (NWC) that is supported by non-free sources for 2018 and 2019, and the changes in NWC between these two years. (5 marks) (w) What is free cash flow (FCF)? Calculate the FCF for 2019. In your opinion, is a negative FCF always a bad sign? Explain using an appropriate example. marks) (5 (b) The following table relates to Stock ABC's return: Demand for Company Probability of this demand Rate of return if this ABC's products Weak occurring 0.15 demand occurs (50%) Below average 0.175 (5%) Average 0.35 15% Above average 0.175 26% Strong 0.15 60% 1.0 Required: Calculate Stock ABC's expected return, standard deviation, and coefficient (10 marks) [Total: 25 Marks] of variation. Question 2 (a) The following are CBA Bhd.'s year end statement of financial position and statement of profit and loss for 2018 and 2019: Non Current Assets: Gross Non Current assets Less accumulated depreciation Net Non Current assets Current Assets: Cash and equivalents Accounts receivable Inventories 2019 (RM) 2018 (RM) 317,503 232.179 $4,045 34.187 263,458 197,992 208,323 102,024 690,294 824,979 942.374 715.414 Total Current Aassets 1.840,991 1.642.417 Total Assets 2.104.449 1.840,409 Non Current Liabilities Long term debt 410,769 372.931 Total Non Current Liabilities 410,769 372,931 Current Liabilites Short term borrowings 288,798 296,149 Accounts payable Accruals 636,318 414,611 106,748 103.362 Total Current Liabilities Total Liabilities Shareholders' Equity 1,031,864 814,122 1,442,633 1,187,053 Common stock (100,000 shares)) Retained earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity 2,104,449 1,840,409 550,000 550,000 111,816 103,356 661,816 653,356 Sales (-) Cost of goods sold 2019 (RM) 2018 (RM) 2.325,967 2.220.607 1,869,326 1,655,827 Other expenses Total operating costs excluding depreciation and amortization Depreciation and amortization Total operating costs EBIT (-) Interest expense EBT (-) Taxes (30%) 287,663 273,870 2,156,989 1,929,697 25.361 26.341 2.182.352 1.956,038 143,615 264,569 31,422 13,802 112.193 250.767 33.658 25.230 Net income Required: 78,535 175,537 () Calculate the after tax operating income (i.e. after-tax EBIT) for 2018 and 2019. marks) (5 Calculate the net working capital (NWC) that is supported by non-free sources for 2018 and 2019, and the changes in NWC between these two years