Nama : Ridho Savero
NIM : 19/444857/EK/22675
Tugas Manajemen Keuangan ke-3
Soal :
SP.4-1, (Preparing common-size financial statements) As the newest hire to the financial analysis
group at Patterson Printing Company, you have been asked to perform a basis financial analysis
of the company’s most recent financial statements. The 2016 balance sheet and income statement
for the Patterson are as follows :
A. A common-size balance sheet for Patterson Printing Company :
Patterson Printing Company
A Common-Size Balance Sheet
2016
Account Amount Percentage(%)
Cash and marketable securities $ 500 1.50%
Account receivable 6,000 18.20%
Inventories 9,500 28.80%
Current assets $16,000 48.50%
Net property plant and equipment 17,000 51.50%
Total assets $33,000 100%
Accounts Payable $ 7,200 21.80%
Short-term debt 6,800 20.60%
Current liabilities $14,000 42.40%
Long-term liabilities 7,000 21.20%
Total liabilities $21,000 63.60%
Total owners'equity 12,000 36.40%
Total liabilities and owner's equity $33,000 100%
B. A common size income statement for Patterson Printing Company :
Patterson Printing Company
A Commong Size Income Statement
For December 31st, 2016
Account Amount Percentage(%)
Revenues $30,000 100%
Cost of good sold 20,000 66.70%
Gross profit $10,000 33.30%
Operating expenses 8,000 26.70%
Net operating expenses $2,000 6.70%
Interest expenses 900 3.00%
Earning before taxes $1,100 3.70%
Income taxes 400 1.30%
Net income $700 2.30%
SP.4-26, (Analyzing financial statements) Carson Electronics’ management has long viewed
BGT Electronics as an industry leader and uses this firm as a model firm for analyzing
its own performance. The balance sheets and income statements for the two firms are
as follows:
A. Calculate the following ratios for both Carson and BGT :
1) 𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝑅𝑎𝑡𝑖𝑜
8,000
𝐶𝑎𝑟𝑠𝑜𝑛 1.40
7,000
10,000
𝐵𝐺𝑇 1.25
8,000
2) 𝑇𝑖𝑚𝑒𝑠 𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑒𝑎𝑟𝑛𝑒𝑑
4,000
𝐶𝑎𝑟𝑠𝑜𝑛 3.48
1,150
16,000
𝐵𝐺𝑇 29.09
550
3) 𝐼𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟
36,000
𝐶𝑎𝑟𝑠𝑜𝑛 24
1,500
42,000
𝐵𝐺𝑇 16.80
2,500
4) 𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟
48,000
𝐶𝑎𝑟𝑠𝑜𝑛 2
24,000
70,000
𝐵𝐺𝑇 2
35,000
5) 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛
4,000
𝐶𝑎𝑟𝑠𝑜𝑛 0.083 8.3%
48,000
16,000
𝐵𝐺𝑇 0.229 22.9%
70,000
6) 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐴𝑠𝑠𝑒𝑡𝑠 𝑂𝑅𝑂𝐴
4,000
𝐶𝑎𝑟𝑠𝑜𝑛 0.167 16.7%
24,000
16,000
𝐵𝐺𝑇 0.457 45.7%
35,000
7) 𝐷𝑒𝑏𝑡 𝑅𝑎𝑡𝑖𝑜𝑛
15,000
𝐶𝑎𝑟𝑠𝑜𝑛 0.625 62.5%
24,000
12,000
𝐵𝐺𝑇 0.343 34.3%
35,000
8) 𝐴𝑣𝑒𝑟𝑎𝑔𝑒 𝐶𝑜𝑙𝑙𝑒𝑐𝑡𝑖𝑜𝑛 𝑃𝑒𝑟𝑖𝑜𝑑
4,500
𝐶𝑎𝑟𝑠𝑜𝑛 34.2 ℎ𝑎𝑟𝑖
48,000
365
6,000
𝐵𝐺𝑇 31.3 ℎ𝑎𝑟𝑖
70,000
365
9) 𝐹𝑖𝑥𝑒𝑑 𝐴𝑠𝑠𝑒𝑡𝑠 𝑡𝑢𝑟𝑛𝑜𝑣𝑒𝑟
&
48,000
𝐶𝑎𝑟𝑠𝑜𝑛 3
16,000
70,000
𝐵𝐺𝑇 2.8
25,000
10) 𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝑒𝑞𝑢𝑖𝑡𝑦
1,710
𝐶𝑎𝑟𝑠𝑜𝑛 0.190 19%
9,000
9,270
𝐵𝐺𝑇 0.403 40.3%
23,000
B. Analyze the differences between Carson and BGT
Jika dilihat secara keseluruhan kinerja BGT lebih unggul daripada carson, hal ini terbukti
dari current ratio, time interest earned, operating profit margin, operating return on assets,
return on equity, dan debt ratio, dimana dalam semua aspek tersebut BGT lebih unggul
dari carson. Carson hanya unggul di dua bagian saja yaitu inventory turnover dan fixed
assets turnover, karna dari itu carson jauh diungguli oleh BGT
