Posted: May 3rd, 2023

Compute A/R, Inventory & A/P For FY-19 & FY-20. Prepare EBITDA For FY-19 & FY-20 essay

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Compute A/R, Inventory & A/P for FY-19 & FY-20. Prepare EBITDA for FY-19 & FY-20
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ExtraCredit_Fall20.xlsx
Home>Business & Finance homework help>Accounting homework help>Compute A/R, Inventory & A/P for FY-19 & FY-20. Prepare EBITDA for FY-19 & FY-20
Sheet1
Extra Credit Assignment:
Due Date: Friday 12/4/20. Extra Credit session will be open from 12 noon to midnight (PST) ONLY (No Exceptions)
Notes:
– The % will be added directly to your grade so if you have 86%, full 5% will take your grade to 91%
– No partial credits for any questions. “All or None” score for each question but working “Must” required for all answers
– If you score zero, it will not impact your current grade but this is a great opportunity to improve your overall grade
FY-19
Revenue $ 10,000,000
Cost of Sales 7,500,000
Gross Profit 2,500,000
Gross Margin 25.0%
Operating Expenses 1,000,000
Depreciation 200,000
Amortization 100,000
Total Operating Expenses 1,300,000
Operating Income 1,200,000
Interest Expenses 100,000
Profit Before Tax 1,100,000
Tax 275,000
Net Income $ 825,000
DSO 36
DIO 30
DPO 30
FY-20 Assumptions:
Income Statement
Decrease in Revenue by 25%
Gross Margin for FY-20 is 20%
Increase in DSO by 3 days
Decrease in DSO by 1 day
Improvement in DPO by 2 days
FY-19 Operating Expenses include $100,000 severance payment and $50,000 one time lease termination cost
Keep Operating Expenses % same as FY-19 on the Total Cost of Sales excluding unusual itmes
Increase Depreciation Expense by 4%
No Change in Amortization Expense
Increase Interest Expense by 2.5%
Tax Rate for FY-20 is 15%
Balance Sheet:
Increase in DSO by 3 days
Improvement in DIO by 3 day
Increase in DPO by 3 days
Increase in Prepaid Expense by $25,000
Increase in Accrued Expense by $75,000
The Company paid $50,000 FY-19 Accrued Bonus in FY-20.
Capital Expenditures $500K. Depreciation already included in depreciation exense assumptions
Total Short-Term and Long-Term Debt as of December 31, 2020 is $0.1M & $0.3M respectively
Total Equity as of December 31, 2020 is $2M
Points %
Q1 Compute A/R, Inventory & A/P for FY-19 & FY-20 10.0 1.25%
Q2 Compute Cash Flows from Operating Activities for FY-20 18.0 2.25%
Q3 Prepare EBITDA for FY-19 & FY-20 4.0 0.50%
Q4 Prepare Non-GAAP Net Income for FY-19 & FY-20 6.0 0.75%
Q5 Compute ROIC for FY-20 2.0 0.25%
Total 40.0 5.00%
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