Financial Statement Analysis

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FINA 6110 – Financial Statement Analysis

FINAL EXAM

Total points: 100 points

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By now you have obtained an intrinsic value for your firm.

An issue with our method thus far is that we have assumed clean-surplus accounting.

Clean-surplus accounting typically does not hold in practice due to the way

financial statements are created.

In the next iteration of your valuation, you should reformulate your historical financial statements as shown in the lectures and book.

The Final Exam ask you to reformulate the latest (2017) Balance

Sheet as shown in the lecture and book.

Please submit the following for Final Exam

• A reformulated 2017 Balance Sheet in Microsoft Excel • Any additional information that you think is needed to explain your

reformulated financial statements.

All other supporting documentations should be placed in the Appendix.