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pter 2 Homework Assignment I. Using the data presented below: Mike Owlal Manufactering Income Statements For the Years 2013 and 2014 Sales Cost of Goods 2,625,000 $2,422,500 704.9751,621,87 Gress Prefit 920,025 63,000 Selling & Admin. Expense Lease Expense 3,250 652,350626250 48,750 48,750 155,925 Net Operating Iacome Earaings Before Taxes Net Income Interest Expense 71,925 25,174 $46,751 84,000$1,000 21,375 7.481 $13.894 Taxes Tax Rate 35.00% 75,000 $0.62 35.00% 60,000 SO 23 Earnings per Share Mike Owjal Manufactering Balance Sheet For the Year Ended December 31, 2014 2014 Cash Marketable Securities Accounts Receivable 39,000$30,750 15,750 315,000279,000 386.250 315,000 1826 Total Current Assets 42,076 Gross Fixed Assets Accunslated D 010,000.627 500 426,750363,750 8325011263.780 2.325.326 1,904 250 Ner Plant & Egipment Tetat Assets astnes & Oners Eio Accounts Payable 378.750217.500 22.500 240,000 Accrued Expeses 6.250 405,000 Toial Curreet Liobilties Lone-tes Debt Total Eiabilinies Cooo Stock (st oo pan 283 3251035 750 75,000 518250 ed Hines 402000 868,500 $1.904 250 ota Liah & ners Lwty
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Answer #1

MIKE OWIAL MANUFACTURING INCOME STATEMENT FOR THE YEAR 2013 AND 2014 Sr. No. Formulas 2014 2013 $26,25,000 $24,22,500 $17,04,975 $16,21,875 $ 9,20,025 $ 8,00,625 $ 63,000 $ 53,250 6,52,350 6,26,250 $ 48,750 S 1,55,925 72,375 $84,000 51,000 21,375 $ 25,174 $ 7,481 $ 46,751 $ 13,894 Sales Cost of Goods Sold Gross Profit Depreciation Selling & Admin Expenses Lease Expenses a- $ 48,750 c-d-e-f Net Operating Income Interest Expense Earnings Before Taxes $ 71,925 $ 2 i* 35% Taxes Net Income

MIKE OWIAL MANUFACTURING BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31, 2014 Sr. No. Formulas 2014 2013 Assets Cash Marketable Securities Accounts Receivable Inventory $ 39,000$30,750 $ 1,826 $ 15,750 $ 3,15,000 $ 2,79,000 $ 3,86,250 $ 3,15,000 $ 7,42,076 6,40,500 $20,10,000 $16,27,500 $ 4,26,750 $ 3,63,750 8-h Net Plant & Equipment$15,83,250 $12,63,750 $23,25,326 $19,04,250 b+c+dte Total Current Assets Gross Fixed Assets Accumulated Depreciation f Total Assets Liabilities & Owners Equity Accounts Payable Accrued Expenses $ 3,78,750 $ 2,17,500 $ 26,250 $ 22,500 4,05,000 2,40,000 $ 8,78,325 $ 7,95,750 $12,83,325 $10,35,750 $ 75,000$ 60,000 $ 5,18,250 $ 4,06,500 $ 4,48,753 $ 4,02,000 $10,42,003 $ 8,68,500 ptt Total Liabilities & Owners Equity 23,25,328 $19,04,250 I+m Total Current Liabilities 0 Long Term Debt Total Liabilities Common Stock Additional Paid up Capital Retained Earnings nto qtr+s Total Owners Equity

MIKE OWIAL MANUFACTURING CASH FLOW STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 2014 Net Cash From Operating Activities Net Profit before Tax Add: Non Cash expenses $ 71,925 Depreciation Add: Interest Expense Cash from operating activities before working capital changes $ 63,000 $ 84,000 2,18,925 Changes in Working Capital Accounts Receivable Inventory Accounts Payable Accrued Expenses Cash from operating activities after working capital changes Less: Income Tax Cash Flow from Operating Activities $-36,000 $ -71,250 $ 1,61,250 $ 3,750 $2,76,675 $ 25,174 S 2,51,501 (A) Net Cash From Investing Activities Purchase of Fixed Assets Sale of Marketable Securities Cash Flow from Investing Activities $ -3,82,500 $ 13,924 $ -3,68,576 (B) Net Cash From Financing Activities Increase in Long Term Debt Interest Expense Issue of Common Stock Issue of Additional Paid Up Capital Cash Flow from Financing Activities $ 82,575 $ -84,000 $15,000 $ 1,11,750 $ 1,25,325 (C) Net Change in Cash & Cash Equivalents (AB+C) Cash & Cash Equivalents at beginning of the period Cash & Cash Equivalents at end of the period $8,250 $ 30,750 $ 39,000

MIKE OWAL MANUFACTURING INCOME STATEMENT FOR THE YEAR 2014 Sr. No. Formulas 2014 $26,25,000 $17,04,975 $ 9,20,025 $ 63,000 6,52,350 S 48,750 $ 1,55,925 $ 84,000 S 71,925 $ 28,770 $ 43,155 Sales Cost of Goods Sold Gross Profit Depreciation Selling & Admin Expenses Lease Expenses a- c-d-e-f Net Operating Income Interest Expense Earnings Before Taxes i* 40% Taxes Net Income

2.a MIKE OWAL MANUFACTURING COMMON SIZE INCOME STATEMENT FOR THE YEAR 2013 AND 2014 Sr. No. Formulas 2014 2013 $26,25,000 $17,04,975 $ 9,20,025 $ 63,000 $652,350 $ 48,750 $ 1,55,92:5 $ 84,000 S 71,925 S 25,174 $ 46,751 100.00% 64.95% 35.05% 2.40% 24.85% $24,22,500 $16,21,875 $8,00,625 $ 53,250 $626,250 1.86% $ 48,750 5.94% $ 72,375 3.20% $ 51,000 2.74% $ 21,375 0.96% $ 7,481 1.78% $ 13,894 100.00% 66.95% 33.05% 2.20% 25.85% 2.01% 2.99% 2.11% 0.88% 0.31% 0.57% Sales Cost of Goods Sold Gross Profit Depreciation Selling & Admin Expenses Lease Expenses a- c-d-e-f Net Operating Income Interest Expense Earnings Before Taxes i* 35% Taxes Net Income

2.b MIKE OWAL MANUFACTURING COMMON SIZE BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31, 2014 Sr. No. Formulas 2014 2013 Assets Cash Marketable Securities Accounts Receivable Inventory $ 39,000 $ 1,826 $ 3,15,000 $ 3,86,250 $ 7,42,076 $20,10,000 $ 4,26,750 $15,83,250, $23,25,326, 1.68% $ 30,750 1.61% 0.08% $ 15,750 0.83% 13.55% $273,000 14.65% 16.61% $315,000 16.54% 31.91% $640,500 33.64% 86.44% $16,27,500 85.47% 18.35% $353,750 19.10% 68.09% $12,63,750 66.36% 100.00% $19,04,250 100.00% b+c+dte Total Current Assets Gross Fixed Assets Accumulated Depreciation Net Plant & Equipment Total Assets fri Liabilities & Owners Equity Accounts Payable Accrued Expenses 3,78,750 $ 26,250 $ 4,05,000 $ 8,78,325 $12,83,325, $ 75,000 $ 5,18,250 $ 4,48,753 $10,42,003, $23,25, 328 , 16.29% $217,500 11.42% 1.13% $ 22,500 1.18% 17.42% $240,000 12.60% 37.77% $7,95,750 41.79% 55.19% $10, 35,750 54.39% 3.23% $ 60,000 3.15% 22.29% $ 4,06,500 21.35% 19.30% $4,02,000 21.11% 44.81% $858,500 45.61% 100.00% $ 19,04,250 100.00% I+m Total Current Liabilities 0 Long Term Debt Total Liabilities Common Stock Additional Paid up Capital Retained Earnings nto qtr+s ptt Total Owners Equity Total Liabilities & Owners Equity

2.c MIKE OWIAL MANUFACTURING COMMON SIZE CASH FLOW STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2014 Using 2013 Cash Balance 2014 Using Sales Net Cash From Operating Activities Net Profit before Tax Add: Non Cash expenses $ 71,925 233.90% 274% Depreciation Add: Interest Expense Cash from operating activities before working capital changes 63,000 $ 84,000 $ 2,18,925 204.88% 273.17% 711.95% 2.40% 3.20% 8.34% Changes in Working Capital Accounts Receivable Inventory Accounts Payable Accrued Expenses Cash from operating activities after working capital changes Less: Income Tax Cash Flow from Operating Activities $ -36,000-117.07% $ -71250-231.71% $1,61,250 524.39% $ 3,750 12.20% $2,76,675 899.76% $ -25, 174-81.87% $2,51,501 817.89% 1.37% 2.71% 6.14% 0.14% 10.54% -0.96% 9.58% (A) Net Cash From Investing Activities Purchase of Fixed Assets Sale of Marketable Securities Cash Flow from Investing Activities $3,82,500-1243.90% $ 13,924 45.28% $3,68,576-1198.62% -14.57% 0.53% 14.04% (B) Net Cash From Financing Activities Increase in Long Term Debt Interest Expense Issue of Common Stock Issue of Additional Paid Up Capital Cash Flow from Financing Activities $ 82,575 268.54% $ -84,000-273.17% $ 15,000 48.78% $1,11,750 363.41% $1,25,325 407.56% 3.15% 3.20% 0.57% 4.26% 4.77% (C) Net Change in Cash & Cash Equivalents (AB+C) Cash & Cash Equivalents at beginning of the period Cash & Cash Equivalents at end of the period 8,250 26.83% $ 30,750 100.00% 39,000 126.83% 0.31% 1.17% 1.49%

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