Excel Assignment.

Excel Assignment.
Marks WangQiuxiang652675
1) Do income statements for 2014 8
2) Do Balance Sheets for 2014 8
3) Do a pro forma Income Statement for 2015 10
4) Do a pro forma Balance Sheet for 2015 10
5) Do Cash Flow Statement for 2014 10
6) Do ratios for 2013 2014 10
7) Do pro forma Ratios for 2015 10
8) Do a pro forma cash budget for 2015 14
9) Do breakeven questions for 2014 2015 10
10) Do the theory problem below 10
Total 100

Theory Problem
It is June 2015 You work at this company.
One of the owners would like to sell some of her shares so she can buy a cottage.
She is offering to sell you 100,000 shares for $3.50 each
Assume you have the money to buy them.
Do you buy them ?
Give me reasons for your answer based on such things as book value, return on
investment, trends, cash flow, SME Benchmarking and so on.
2014 Data
WangQiuxiang652675 2014 Other Info 2014 2013 2015
Accounts payable $980,882 Common Stock 400,000 shares 400,000 shares 400,000 shares
Accounts receivable $630,628
Amortization expense $38,000
Beginning Inventory $760,000 Notes Payable current
Cash $343,828 Sales on Credit 90% percent of net sales
Common stock $100,000
Ending Inventory $964,831 Share Price 2013 $1.60 per share Share Prices based on accounting department’s estimates.
Freight In $39,660 Share Price 2014 $2.75 per share
Interest expense $63,401
GIC’s $300,000 The directors have decided that no new shares will be issued/sold in 2015
Mortgage payable $911,115
Net Purchases $2,757,002
Net Sales $5,717,665
Notes payable $200,000 Tax rate 40% Of Net Income Taxes on the year’s profits are paid in December
Prepaid expenses $42,089 Amortization Expense 4% declining balance
Plant and Equipment $3,900,000
Salaries $883,718
Utilities $2,879
Insurance $2,787
Transport $20,694
Repairs & Maintenance $9,585
Advertising $26,810
Misc. Expense $49,701
Direct Wages and Expenses $1,135,500
Comon Stock Dividends $60,000

2015 Projected Data
Net Sales 12% increase Mortgage payments for the year: 2014 2015 2016
Direct Wages & Expenses 11% increase Interest Principal Interest Principal Interest Principal
Salaries 1.00% increase 4,499.65 1,989.21 4,378.51 2,110.35 4,250.79 2,238.07
4,489.83 1,999.03 4,368.09 2,120.77 4,240.11 2,248.75
Utilities 2.50% increase 4,479.96 2,008.90 4,357.61 2,131.25 4,229.43 2,259.43
Insurance 3.00% increase 4,470.04 2,018.82 4,347.09 2,141.77 4,218.74 2,270.12
Transport 6.00% increase 4,460.06 2,028.80 4,336.51 2,152.35 4,208.06 2,280.80
R&M 2.00% increase 4,450.05 2,038.81 4,325.88 2,162.98 4,197.38 2,291.48
Advertising $4,000 decrease 4,439.98 2,048.88 4,315.20 2,173.66 4,186.70 2,302.16
Misc 2.00% decrease 4,429.86 2,059.00 4,304.46 2,184.40 4,176.01 2,312.85
Freight-in 10.00% increase 4,419.69 2,069.17 4,293.68 2,195.18 4,165.33 2,323.53
Net Purchases 11% increase 4,409.47 2,079.39 4,282.84 2,206.02 4,154.65 2,334.21
Common Stock Dividends $20,000 increase 4,399.20 2,089.66 4,271.94 2,216.92 4,143.96 2,344.90
Amortization Expense 4.00% declining balance 4,388.88 2,099.98 4,260.99 2,227.87 4,133.28 2,355.58
Capital purchases $30,000 new roof in June to be added to plant & equipment 53,336.67 24,529.65 51,842.80 26,023.52 50,304.45 27,561.87

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