Watsons
Income Statement
For the year ended 2013
Particular |
Amount in thousands $ |
Sales |
455,150 |
Expenses excluding depreciation and expense |
386,878 |
EBITDA( 15% of sales) |
68,272 |
Depreciation (11% of Net Fixed Assets) ($67,165*11%) |
7,388 |
EBIT |
60,884 |
Interest Expenses |
8,575 |
EBT |
52,309 |
Taxes @ 40% |
20,924 |
Net Income |
31,385 |
Common Dividend @ 40% |
12,554 |
Addition to Retained Earning |
18,831 |
b. Statement of Retained Earnings for the year 2013
Statement of Retained Earnings (In thousands of dollar) |
|
Balance of Retained Earnings, December 31,2012 |
38,774 |
Add: Net Income, 2013 |
31,385 |
Less: Common Dividends paid,2013 |
12,554 |
Balance of Retained Earnings, December 31,2013 |
57,605 |
Statement of Cash flows (in thousands of dollar) |
|
Operating Activities |
|
Net Income |
31,385 |
Adjustments: |
|
Non Cash Adjustments: |
|
Depreciation |
7,388 |
Due to Changes in working capital |
|
Increase in accounts receivable |
-17,838 |
Increase in inventories |
-3,462 |
Increase in accounts payable |
7,652 |
Increase in accruals |
7,821 |
Decrease in short-term investments |
3,700 |
Net Cash Provided by operating Activities |
36,646 |
Investing Activities |
|
Cash used to acquire gross fixed assets (67,165+7,388-42,436) |
-32,117 |
Net Cash provided by investing activities |
-32,117 |
Financing Activities |
|
Increase in notes payable |
2,500 |
Increase in long-term debt |
12,350 |
Increase in common stock |
10,000 |
Payment of common dividends |
-12,554 |
Net Cash provided by financing activities |
12,296 |
Net Increase/decrease in cash |
16,825 |
Add: Cash Balance at the beginning of the year |
74,625 |
Cash Balance at the end of the year |
91,450 |
C.) Calculate operating cash flow, net working capital, capital spending and free cash flow for 2013
Operating Cash Flow |
||||||
OCF13 |
= |
EBIT |
+ |
Depreciation |
- |
Taxes |
55,718 |
= |
60,884 |
+ |
7,388 |
- |
20,924 |
Net Working Capital |
||||||
NCW13 |
= |
Current Assets |
- |
Current Liabilities |
||
166,704 |
= |
244,659 |
- |
77,955 |
||
NCW12 |
= |
Current Assets |
- |
Current Liabilities |
||
86,338 |
= |
210,234 |
- |
123,896 |
||
Investment in Net Working Capital |
||||||
Change in NWC |
= |
NWC13 |
- |
NWC12 |
||
80,366 |
= |
166,704 |
- |
86,338 |
||
Net Capital Spending |
||||||
CAPEX13 |
= |
Net Fixed Assets13 |
- |
Net Fixed Assets12 |
+ |
Depreciation |
32,117 |
= |
67,165 |
- |
42,436 |
+ |
7,388 |
Free Cash Flow |
||||||
CFFA (or FCF)13 |
= |
Operating Cash Flow |
- |
Net Capital Spending |
- |
Net Change in working capital |
-56,765 |
= |
55,718 |
- |
32,117 |
- |
80,366 |
lookign to have a b c completed F92 6 Balance Sheets 7 (in thousands of dollars)...
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