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A.

Analysis of Preparation of balance sheet and Ratio Analysis


1. Supporting Data
a. pro forma profit and loss company

INCOME
Year 2018 2019 2020

Sales revenue Rp 2,799,753,000 Rp 2,982,339,675 Rp 3,387,919,106


Total income Rp 2,799,753,000 Rp 2,982,339,675 Rp 3,387,919,106
ESTIMATE COST OF GOODS SOLD
Initial inventory of finished products Rp - Rp 14,357,662 Rp 14,911,625
Estimate Cost Of Goods Manufactured
Direct Cost
Direct Material Cost Rp 1,267,705,812 Rp 1,290,547,200 Rp 1,491,752,820
Direct Labor Cost Rp 147,807,660 Rp 180,916,576 Rp 184,534,907
Total Direct Cost Rp 1,415,513,472 Rp 1,471,463,776 Rp 1,676,287,727
Overhead Cost
Power Supply Cost Rp 4,502,160 Rp 4,502,160 Rp 4,502,160
Cost Depreciation Factory
Cost Depreciation Tools Rp 156,600 Rp 156,600 Rp 156,600
Cost Depreciation Machine Rp 6,911,600 Rp 6,911,600 Rp 6,911,600
Cost Depreciation Vehicle Rp 23,040,000 Rp 23,040,000 Rp 23,040,000
Total Biaya Overhead Cost Rp 34,610,360 Rp 34,610,360 Rp 34,610,360
Total Cost of Goods Manufactured (Harga Pokok Produksi) Rp 1,450,123,832 Rp 1,506,074,136 Rp 1,710,898,087
Production Main Cost Rp 1,450,123,832 Rp 1,520,431,798 Rp 1,725,809,712
Las Stock Product Rp 14,357,662 Rp 14,911,625 Rp 16,939,585
Total Cost Of Goods Sold (Harga Pokok Penjualan) Rp 1,435,766,170 Rp 1,505,520,172 Rp 1,708,870,127

OPERATING INCOME BEFORE Rp 1,363,986,830 Rp 1,476,819,503 Rp 1,679,048,979

Other Operating Cost


Marketing Cost Rp 38,350,000 Rp 38,350,000 Rp 38,350,000
Salary costs Executive Board Rp 344,535,566 Rp 351,426,238 Rp 389,210,541
Recruitment Cost Rp 36,187,000 Rp - Rp 26,387,000
Employee wealthy Cost Rp 26,094,191 Rp 28,214,169 Rp 30,408,509
Insentif, Rabat dan Bonus Rp - Rp 44,188,453 Rp 48,147,799
Cost Depreciation Office Tools Rp 3,124,000 Rp 3,124,000 Rp 3,124,000
Total Other Operating Cost Rp 448,290,757 Rp 465,302,860 Rp 535,627,849

EBIT(Earning Before Interest and Tax) Rp 915,696,073 Rp 1,011,516,643 Rp 1,143,421,129

Interest expense Rp 12,894,173 Rp 8,262,136 Rp 3,056,062

EBT (Earning Before Tax) Rp 902,801,900 Rp 1,003,254,507 Rp 1,140,365,068

Tax (25%) 225,700,475.07 250,813,626.72 285,091,266.92

EAIT(Earning After Interest and Tax) Rp 677,101,425 Rp 752,440,880 Rp 855,273,801


b. Proforma of Company Cashflow

CASH FLOW
Tahun 2017 2018 2019 2020
Estimasi Cash Inflow
Personal Investment Rp 506,403,678
Bank Loan Rp 126,600,919
sale Rp 2,799,753,000 Rp 2,982,339,675 Rp 3,387,919,106
Total Estimasi Cash Inflow Rp 633,004,597 Rp 2,799,753,000 Rp 2,982,339,675 Rp 3,387,919,106
Estimasi Cash Outflow
Machine Cost Rp 20,734,800 Rp - Rp - Rp -
Tool Cost Rp 350,200 Rp - Rp - Rp -
Vehicle Cost Rp 115,200,000 Rp - Rp - Rp -
Factory Cost Rp 18,000,000 Rp - Rp - Rp -
office Tool Cost Rp 9,124,000 Rp - Rp - Rp -
SIUP cost Rp 2,700,000 Rp - Rp - Rp -
Brand Rp 600,000 Rp - Rp - Rp -
Working Capital Rp 466,295,597
Direct Cost Rp 1,415,513,472 Rp 1,471,463,776 Rp 1,676,287,727
Power Suply Cost Rp 4,502,160 Rp 4,502,160 Rp 4,502,160
Marketing Cost Rp 38,350,000 Rp 38,350,000 Rp 38,350,000
Salary costs Executive Board Rp 344,535,566 Rp 351,426,238 Rp 389,210,541
Recruitment Cost Rp 36,187,000 Rp - Rp 26,387,000
Employee wealthy Cost Rp 26,094,191 Rp 28,214,169 Rp 30,408,509
Insentif, Rabat dan Bonus Rp - Rp 44,188,453 Rp 48,147,799
total interest Rp 12,894,173 Rp 8,262,136 Rp 3,056,062
installment / month Rp 37,376,924 Rp 42,008,961 Rp 47,215,035
Tax Payment Rp - Rp 225,700,475 Rp 250,813,627 Rp 285,091,267
Total Cash Outflow Rp 633,004,597 Rp 2,141,153,960 Rp 2,239,229,519 Rp 2,548,656,100

Net Cash Flow Rp (506,403,678) Rp 658,599,040 Rp 743,110,156 Rp 839,263,006


End Cash Balance Rp (506,403,678) Rp 2,293,349,322 Rp 3,640,938,715 Rp 4,131,029,262
2. Performa Balance Sheet of Company

2018 2019 2020


AKTIVA
Currents Asset
Akumulasi Kas Rp 658,599,040 Rp 1,401,709,196 Rp 2,240,972,202
Persediaan Akhir Produk Jadi Rp 14,357,662 Rp 14,911,625 Rp 16,939,585
Total Currents Asset Rp 672,956,701 Rp 1,416,620,821 Rp 2,257,911,787
Fixed & Intangible Assets
SIUP Rp 2,700,000 Rp 2,700,000 Rp 2,700,000
Merk Dagang Rp 600,000 Rp 600,000 Rp 600,000
Working Capital Rp 466,295,597 Rp 466,295,597 Rp 466,295,597
Fixed Asset Rp 163,409,000 Rp 163,409,000 Rp 163,409,000
Akumulasi Depresiasi Rp (33,232,200) Rp (66,464,400) Rp (99,696,600)
Total Fixed & Intangible Assets Rp 599,772,397 Rp 566,540,197 Rp 533,307,997

Total Assets Rp 1,272,729,098 Rp 1,983,161,018 Rp 2,791,219,784

PASSIVA
Liabilities
Kredit Bank Rp 89,223,996 Rp 47,215,035 Rp (0)
Total Liabilities Rp 89,223,996 Rp 47,215,035 Rp (0)
Capital
Modal Awal Rp 506,403,678 Rp 506,403,678 Rp 506,403,678
Laba ditahan (EAIT) Rp 677,101,425 Rp 752,440,880 Rp 855,273,801
Akumulasi laba ditahan Rp 677,101,425 Rp 1,429,542,305 Rp 2,284,816,106
Total Capital Rp 1,183,505,103 Rp 1,935,945,983 Rp 2,791,219,784

Total Capital & Liabilities Rp 1,272,729,098 Rp 1,983,161,018 Rp 2,791,219,784

3. Proforma of Company Financial Ratios


c. Return of Asset

Tahun 2018 2019 2020


EAI T Rp 677,101,425.20 Rp 752,440,880.15 Rp 855,273,800.76
Total Aktiv a Rp 599,772,397.19 Rp 566,540,197.19 Rp 533,307,997.19
ROA 1.13 1.33 1.60

d. Return on Equity

Tahun 2018 2019 2020


EAI T Rp 677,101,425.20 Rp 752,440,880.15 Rp 855,273,800.76
Total Ekuitas Rp 506,403,677.75 Rp 506,403,677.75 Rp 506,403,677.75
ROE 0.75 0.67 0.59
e. Return of Investment

Tahun 2018 2019 2020


EAI T Rp 677,101,425.20 Rp 752,440,880.15 Rp 855,273,800.76
Total Aset Rp 672,956,701.30 Rp 1,416,620,820.87 Rp 2,257,911,786.67
ROI 1.01 0.53 0.38

4. Proposed business strategy is based on analysis of pro forma financial ratios

Based on company financial ratios, in return on assets shows from year 2018 until
year 2020 the good performance of the company. But in return on equity and return of
investment show the company performance decreasing and needed the change in the
strategy so that the profit can be increase.