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Use the following information about XYZ Plumbing (FY=12/31), a public company with the most recent closing stock price of $5.00, to answer the following three problems
Income Statement
2013
2014
Revenue
10,000,000
12,000,000
CGS
4,000,000
4,800,000
Gross Profit
6,000,000
7,200,000
SG&A
1,800,000
2,000,000
R&D
1,000,000
Deprec & Amort
500,000
550,000
Total Op. Expense
3,300,000
3,550,000
Operating Profit
2,700,000
3,650,000
Interest cost
520,000
600,000
Interest income
90,000
110,000
Pre-Tax
2,270,000
3,160,000
Tax (35% rate)
794,500
1,106,000
Net Income
1,475,500
2,054,000
EPS - Basic
0.15
0.21
Average Shares Outstanding
Balance Sheet
ASSETS
LIABILITIES
Cash
2,500,000
4,154,000
Accounts Payable
A/R
1,500,000
Notes Payable
Inventory
2,300,000
Current portion of LTD
Pre-paid expenses
670,000
Accrued Liabilities
Total Current Assets
6,500,000
8,624,000
Total Current Liabilities
3,500,000
3,020,000
Building and Improvements
15,000,000
Long-Term Debt
14,000,000
Equipment
5,000,000
7,000,000
20,000,000
22,000,000
Stockholder's Equity
Common Stock at Par
100,000
Depreciation
1,050,000
Paid in Capital
9,900,000
Net PP&E
19,500,000
20,950,000
Retained Earnings
2,554,000
Total Stockholder's Equity
10,500,000
12,554,000
Total Assets
26,000,000
29,574,000
Total Liabilities + Equity
1. Complete the following cash Flow Statement for XYZ Plumbing for 2014
2. Calculate the following ratios for XYZ Plumbing 2014:
3. Fill in the projections for XYZ Plumbing for 2015, based on the following assumptions:
1. Revenue grows by 25% between 2014 and 2015.2. Gross Margins remain at 2014 levels.3. SG&A improves by 1% (as a % of revenue)4. R&D increases by 20%.5. Depreciation and Amortization costs do not change between 2014 and 2015.6. Interest costs and expenses are given in the table below.7. The tax rate remains constant.8. The Average Shares Outstanding is the same as it was in 2014.9. Options and Warrants are listed in the following table:
Financial Statement Analysis and Preparation
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