Professional Documents
Culture Documents
current % expected
CURRENT ASSET CURRENT LIABILITIES
Cash 9,900 1.2 11,880 accrual expenses
MARKETABLE SECURITIES 29,700 1 29,700 account payable
account receivable 118,800 1.2 142,560 note payable
inventories 74,250 1.2 89,100
TOTAL CURRENT ASSSET 232,650
LONG TERM LIABILITIES
FIXED ASSET long term debt
land & building 141,350 1.2 169,620
machineries & eqpment 74,800 1.2 89,760 SHAREHOLDERS EQUITY
furniture & fitting 46,200 1.2 55,440 preferred stock
common stock
retained earning
AFN
STEP 1 = 20%
Step 2 = Differentiate
STEP 3
RE1 = RE0 + [SALES014 x NPM x (1-DPR)]
= 19,800,000 + [(1,000,000)(7.5%)(1-70%)]
= 19,800,000 + [(1,000,000)(0.075)(1-0.7)]
= 42,300,000
STEP 4
AFN = total assets - currents liabilities - long term liabilities - shareholders equity
= 594,000 - (5,940 + 95,040 + 79,200) - 198,000 - (24,750 + 89,100 + 42,300)
= 59,670
current % expected
198,000 198,000
24,750 24,750
89,100 89,100
19,800 42,300
59,670.00
594,000
RM ('000)
current % expected
CURRENT ASSET CURRENT LIABILITIES
Cash 45,000 1.44 64,800 Aaccount Payable
Marketable Securities 41,000 41,000 Notes Payable
Account Receivable 60,000 1.44 86,400 Tax Payable
Inventories 88,500 1.44 127,440
LONG TERM LIABILITIES
FIXED ASSET Long term Debt
Net plant and Equipment 120,500 120,500
SHAREHOLDERS EQUITY
Preferred Stock
Commmon Stock
Retained Earnings
AFN
75,000 75,000
100,000 100,000
68,500 86,500
31,280
440,140
RM ('000)
current % expected current
CURRENT ASSET CURRENT LIABILITIES
Cash 100 1.5 150 Account Payable 220
marketable securities 130 130 tax ACCRUALS 100
note payable (absorbed AFN =
account receivable 150 1.5 225 spontaneuos) 300
inventories 320 1.5 480 common share 470
SHAREHOLDERS EQUITY
retained earning 150
STEP 3
RE1 = RE0 + ADD RE npm= net profit 2014 / sales
= 150,000 + [15,000,000 x (500,000/10,000,000) x (1- {200,000/500,000})]
= 150,000 + [ 15,000,000 x 0.05 x (1 - 0.4)]
= 600,000
1.15 253
1.15 115
1.15 345
1.15 541
310
600.00
2,164
RM ('000)
current % expected
CURRENT ASSET CURRENT LIABILITIES
Cash 1,080 1.15 1,242 Account Payable
Account Receivable 6,480 1.15 7,452 ACCRUALS
Inventories 8,000 1.15 9,200 note payable
SHAREHOLDERS EQUITY
common Stock
retained earning
AFN
STEP 1 = 15%
STEP 3
RE1 = RE0 + ADD RE = 12,460 + [(15% X 32,500) X (2,160/3,500) X (1 - {972/2,160})]
= 12,460 + 1,366.20
= 13,826.20
STEP 4
AFN = total assets - currents liabilities - long term liabilities - shareholders equity
= 29,969 - (3450 + 2,875 + 2,100) - 3,000 - (3,000 + 13,826.20)
= 1,717.80
current % expected
3,000 1 3,000
3,000 1 3,000
12,460 13,826.20
1,717.80
29,969