finance 200

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· Complete using the financial statement below to calculate the 13 basic ratios found in the chapter. There is NO need to repeat the financial statements in your assignment. Just show the calculations of each ratio:

FORD MOTOR CORPORATION
Balance Sheet
December 31, 200x
Assets
Current assets:
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70,000
Marketable securities . . . . . . . . . . . . . . . . 40,000
Accounts receivable (net) . . . . . . . . . . . . . 250,000
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . 200,000
Total current assets . . . . . . . . . . . . . . . . 560,000
Investments. . . . . . . . . . . . . . . . . . . . . . . . . . 100,000
Net plant and equipment . . . . . . . . . . . . . . 440,000
Total assets. . . . . . . . . . . . . . . . . . . . . . . . .$1,100,000

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . 130,000
Notes payable . . . . . . . . . . . . . . . . . . . . . . . . . . 120,000
Accrued taxes . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000
Total current liabilities . . . . . . . . . . . . . . . . . . $280,000

Long-term liabilities:
Bonds payable . . . . . . . . . . . . . . . . . . . . . . . . . 200,000
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 480,000
Stockholders’ equity
Preferred stock, $100 par value . . . . . . . . . . . . 150,000
Common stock, $5 par value . . . . . . . . . . . . . . 50,000
Capital paid in excess of par. . . . . . . . . . . . . . . 200,000
Retained earnings. . . . . . . . . . . . . . . . . . . . . . . 220,000
Total stockholders’ equity. . . . . . . . . . . . . . . . 620,000
Total liabilities and stockholders’ equity . . . .$1,100,000



FORD MOTOR CORPORATION
Income Statement
For the Year Ending December 31, 200X

Sales (on credit) . . . . . . . . . . . . . . . . . . . . . . . .$2,400,000
Less: Cost of goods sold. . . . . . . . . . . . . . . . . .. 1,600,000
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000
Less: Selling and administrative expenses . . . . . . 560,000*
Operating profit (EBIT) . . . . . . . . . . . . . . . . . . . . 240,000
Less: Interest expense . . . . . . . . . . . . . . . . . . . . . . 30,000
Earnings before taxes (EBT) . . . . . . . . . . . . . . . . . 210,000
Less: Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,000
Earnings after taxes (EAT) . . . . . . . . . . . . . . . . . $ 135,000

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