Elfrida Sahita Tiksna

19/453610/EE/07417

Analisis Laporan Keuangan

Pertemuan 9
Kembalian atas Investasi dan Profitabilitas
Exercise 8-1
a. Alternatif pertama:
NOPAT = $6,000,000 x 10%
= $600,000
Net Income = $600,000 – ($1,000,000 x 12%)(1-0.4)
= $528,000

Alternatif kedua:
NOPAT = $6,000,000 x 10%
= $600,000
Net Income = $600,000 – ($2,000,000 x 12%)(1-0.4)
= $456,000

b. Alternatif pertama:
ROCE = $528,000 / $5,000,000
= 10.56%
Alternatif kedua:
ROCE = $456,000 / $4,000,000
= 11.40%

c. Alternatif pertama:
Asset to Equity = $6,000,000 / $5,000,000
= 1.2
Alternatif pertama:
Asset to Equity = $6,000,000 / $4,000,000
= 1.5

Exercise 8-3
a. RNOA = 2 x 5% = 10%
b. ROCE = 10% + 1.786 x 4.4% = 17.86%
c. RNOA 10.00%
Leverage advantage 7.86%
Return On Equity 17.86%
Exercise 8-7
1. C. A Company with a large proportion of aged plant and equipment
2. A. Sales divided by average long-term operating assets
3. C. After-tax Operating profit margin and NOA turnover