MiniCase(Topic2)financial statement analysis 财务管理英文版教学课件 大学二年级下学期用.docVIP

Topic 3 MiniCase The first part of the case, presented in Topic 2, discussed the situation that Computron Industries was in after an expansion program. Thus far, sales have not been up to the forecasted level, costs have been higher than were projected, and a large loss occurred in 2008, rather than the expected profit. As a result, its managers, directors, and investors are concerned about the firm’s survival. Donna Jamison was brought in as assistant to Fred Campo, Computron’s Chairman, who had the task of getting the company back into a sound financial position.Computron’s 2007 and 2008 balance sheets and income statements, together with projections for 2009, are shown in the following tables. Also, the tables show the 2007 and 2008 financial ratios, along with industry average data. The 2009 projected financial statement data represent Jamison’s and Campo’s best guess for 2009 results, assuming that some new financing is arranged to get the company “over the hump.” 2009E 2008 2007 BALANCE SHEETS ASSETS Cash $ 14,000 $ 7,282 $ 9,000 Short-term investments 71,632 0 48,600 Accounts receivable 878,000 632,160 351,200 Inventories 1,716,480 1,287,360 715,200 Total current assets $2,680,112 $1,926,802 $ 1,124,000 Gross fixed assets 1,197,160 1,202,950 491,000 Less accumulated depreciation 380,120 263,160 146,200 Net fixed assets $ 817,040 $ 939,790 $ 344,800 Total assets $3,497,152 $2,866,592 $1,468,800 Liabilities and Equity Accounts payable $ 436,800 $ 524,160 $ 145,600 Notes payable 600,000