Assignment - Financial
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Amounts are in thousands of dollars (except number of shares and price per share): |
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Kiwi Fruit Company Balance Sheet |
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|
|
|
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Cash and equivalents |
$ |
570 |
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Operating assets |
|
650 |
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Property, plant, and equipment |
|
2,700 |
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Other assets |
|
110 |
|
|
|
|
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Total assets |
$ |
4,030 |
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|
|
|
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Current liabilities |
$ |
920 |
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Long-term debt |
|
1,280 |
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Other liabilities |
|
120 |
|
|
|
|
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Total liabilities |
$ |
2,320 |
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|
|
|
|
Paid in capital |
$ |
340 |
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Retained earnings |
|
1,370 |
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|
|
|
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Total equity |
$ |
1,710 |
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|
|
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Total liabilities and equity |
$ |
4,030 |
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|
|
|
|
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Kiwi Fruit Company Income Statement |
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Net sales |
$ |
7,800 |
|
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Cost of goods sold |
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(5,900 |
) |
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|
|
|
|
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Gross profit |
$ |
1,900 |
|
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Operating expense |
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(990 |
) |
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|
|
|
|
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Operating income |
$ |
910 |
|
|
Other income |
|
105 |
|
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Net interest expense |
|
(200 |
) |
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|
|
|
|
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Pretax income |
$ |
815 |
|
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Income tax |
|
(285 |
) |
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|
|
|
|
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Net income |
$ |
530 |
|
|
|
|
|
|
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Earnings per share |
$ |
2.00 |
|
|
Shares outstanding |
|
265,000 |
|
|
Recent price |
$ |
34.50 |
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|
|
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Kiwi Fruit Company Cash Flow Statement |
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|
|
|
|
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Net income |
$ |
530 |
|
|
Depreciation and amortization |
|
175 |
|
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Changes in operating assets |
|
(90 |
) |
|
Changes in current liabilities |
|
(120 |
) |
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|
|
|
|
|
Operating cash flow |
$ |
495 |
|
|
|
|
|
|
|
Net additions to properties |
$ |
180 |
|
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Changes in other assets |
|
(80 |
) |
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|
|
|
|
|
Investing cash flow |
$ |
100 |
|
|
|
|
|
|
|
Issuance/redemption of long-term debt |
$ |
(190 |
) |
|
Dividends paid |
|
(220 |
) |
|
|
|
|
|
|
Financing cash flow |
$ |
(410 |
) |
|
Net cash increase |
$ |
185 |
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Prepare a pro forma income statement, balance sheet, and cash flow statement for Kiwi Fruit assuming a 10 percent increase in sales. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign. Input all amounts as thousands of dollars. Round earnings per share to 2 decimal places. Omit the "$" sign in your response.) |
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Kiwi Fruit Company Pro Forma Income Statement |
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Net sales |
$ |
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Cost of goods sold |
|
|
|
|
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Gross profit |
$ |
|
Operating expense |
|
|
|
|
|
Operating income |
$ |
|
Other income |
|
|
Net interest expense |
|
|
|
|
|
Pretax income |
$ |
|
Income tax |
|
|
|
|
|
Net income |
$ |
|
|
|
|
Earnings per share |
$ |
|
Shares outstanding |
|
|
|
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Kiwi Fruit Company Pro Forma Cash Flow Statement |
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|
|
|
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Net income |
$ |
|
Depreciation and amortization |
|
|
Changes in operating assets |
|
|
Changes in current liabilities |
|
|
|
|
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Operating cash flow |
$ |
|
Net additions to property |
$ |
|
Changes in other assets |
|
|
|
|
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Investing cash flow |
$ |
|
|
|
|
Issuance/redemption of long-term debt |
$ |
|
Dividends paid |
|
|
|
|
|
Financing cash flow |
$ |
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Net cash increase |
$ |
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|
|
|
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Kiwi Fruit Company Pro Forma Balance Sheet |
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Cash and equivalents |
$ |
|
Operating assets |
|
|
Property, plant, and equipment |
|
|
Other assets |
|
|
|
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Total assets |
$ |
|
|
|
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Current liabilities |
$ |
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Long-term debt |
|
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Other liabilities |
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|
|
|
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Total liabilities |
$ |
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Paid in capital |
$ |
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Retained earnings |
|
|
|
|
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Total equity |
$ |
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Total liabilities and equity |
$ |
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