Cash Flw, Ratios, Equa tabs

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southwest_cashflow_proj.xls

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Instructions Page

This worksheet will be used for EOC 11 & EOC 12.

Print all of the tabs: Inc Stmt, Bal Sht, Cash Flw, Ratios, Equa

The Inc Stmt, Bal Sht, Cash Flw tabs will be used for EOC 11.

The Inc Stmt, Bal Sht, Ratios, Equa tabs will be used for EOC 12.

Inc Stmt

Southwest Materials, Inc.
Consolidated Statements of Income
Five Tabs, Print All of Thm
	2007	2008	2009	2010	2011
Net Sales	61,540	72,410	83,200	89,460	93,000
Cost of Sales	48,000	55,760	64,480	68,440	70,600
Gross Profit	13,540	16,650	18,720	21,020	22,400
Selling, G&A Exp	6,150	7,600	8,320	9,390	9,300
Operating Profit	7,390	9,050	10,400	11,630	13,100
Interest Expense	(60)	(150)	(420)	(450)	(470)
Interest Income	120	70	80	90	90
G(L) Sale Assets	190	370	2,420	2,710	2,450
Income Before Txs	7,640	9,340	12,480	13,980	15,170
Provision for Txs	2,770	3,260	4,160	4,920	5,110
Net Income	4,870	6,080	8,320	9,060	10,060
Percentage Presentation
Net Sales	100.0%	100.0%	100.0%	100.0%	100.0%
Cost of Sales	78.0%	77.0%	77.5%	76.5%	75.9%
Gross Profit	22.0%	23.0%	22.5%	23.5%	24.1%
Selling, G&A Exp	10.0%	10.5%	10.0%	10.5%	10.0%
Operating Profit	12.0%	12.5%	12.5%	13.0%	14.1%
Interest Expense	-0.1%	-0.2%	-0.5%	-0.5%	-0.5%
Interest Income	0.2%	0.1%	0.1%	0.1%	0.1%
G(L) Sale Assets	0.3%	0.5%	2.9%	3.0%	2.6%
Income Before Txs	12.4%	12.9%	15.0%	15.6%	16.3%
Provision for Txs	4.5%	4.5%	5.0%	5.5%	5.5%
Net Income	7.9%	8.4%	10.0%	10.1%	10.8%

Bal Sht

Southwest Materials, Inc.
Consolidated Balance Sheets
	2007	2008	2009	2010	2011
Current Assets
Cash & Equivalents	560	470	420	3,640	4,270
Accounts Receivable (Net)	8,170	9,420	10,470	11,310	12,000
Inventories	3,190	2,950	3,870	3,840	4,000
Prepaid Expense	660	520	660	750	900
Total Current Assets	12,580	13,360	15,420	19,540	21,170
Other Assets	2,590	3,800	3,880	4,380	5,000
Goodwill	1,140	5,870	6,140	6,830	7,000
Property, Plant & Equip.
Land	15,010	17,460	18,910	20,110	21,770
Plant & Equip & C-I-P	65,370	76,190	89,560	94,750	101,390
Gross P. P. & E.	80,380	93,650	108,470	114,860	123,160
Less: Accum Depreciation	40,250	41,160	47,650	51,220	56,010
Net P. P. & E.	40,130	52,490	60,820	63,640	67,150
Total Assets	56,440	75,520	86,260	94,390	100,320
Current Liabilities
Accounts Payable	4,850	5,200	5,260	5,320	5,400
Accrued Liabilities	4,200	7,960	4,360	4,320	4,300
Current Portion L-T-Debt	290	290	470	1,140	950
Total Current Liabilities	9,340	13,450	10,090	10,780	10,650
Long-Term Debt	2,990	11,560	18,950	15,120	11,500
Deferred Income Taxes	3,570	3,990	4,820	6,910	7,500
Accrued Employee Benefits	3,050	3,680	3,410	3,610	3,500
				25,640	22,500
Total Liabilities	18,950	32,680	37,270	36,420	33,150
Stockholders' Equity
Common Stk, $.10 Par Val	240	240	240	240	240
Capital in Excess of Par	2,350	2,350	2,350	2,350	2,350
Retained Earnings	35,240	40,730	48,120	56,020	64,880
Less Cost of Treas Stk	(340)	(480)	(1,720)	(640)	(300)
Total Stockholders' Equity	37,490	42,840	48,990	57,970	67,170
Total Liablities & Equity	56,440	75,520	86,260	94,390	100,320

Cash Flw

Southwest Materials, Inc.
Consolidated Statements of Cash Flows
	2007	2008	2009	2010	2011
Cash, Operating Activities
Net Income	4,870	6,080	8,320	9,060	10,060
Adjustments to Reconcile
Net Income to Net Cash
From Operations
Deprec/Depl/Amort		910	6,490	3,570
(Gain)Loss Asset Sale	(190)	(370)	(2,420)	(2,710)	(2,450)
Net Changes in Operating
Assets & Liabilities
(Incr)Decr Acc Rec		(1,250)	(1,050)	(840)
(Incr)Decr Inventories		240	(920)	30
(Incr)Decr Prepaids		140	(140)	(90)
Incr(Decr) Acc Pay		350	60	60
Incr(Decr) Accrued Liab		3,760	(3,600)	(40)
Incr(Decr) Cur L-T Debt		0	180	670
Net Cash, Operating Activ		9,860	6,920	9,710
Cash, Investing Activities
Purchase, P. P. & E.		(13,470)	(18,130)	(7,250)
Proceeds, Sale of Assets		570	5,730	3,570
Additions, Other Assets		(1,210)	(80)	(500)
Business Acquistions		(4,730)	(270)	(690)
Net Cash, Investing Activ		(18,840)	(12,750)	(4,870)
Cash, Financing Activities
Incr(Decr) L-T Debt		8,570	7,390	(3,830)
Incr(Decr) Deferred Tax		420	830	2,090
Incr(Decr) Employee Ben		630	(270)	200
Repurchase, Company Stk		(140)	(1,240)	1,080
Payment of Dividends		(590)	(930)	(1,160)
Net Cash, Financing Activ		8,890	5,780	(1,620)
Net Incr(Decr) in Cash		(90)	(50)	3,220
Cash, Beginning of Year		560	470	420	3,640
Cash, End of Year	560	470	420	3,640	4,270
Because P.P.&E. was bought and sold during each year, use the following
information concerning Capital Expenditures, Proceeds and (Gain)loss.
(Capital Expenditures)		(13,470)	(18,130)	(7,250)	(9,750)
Proceeds, P.P.&E. Sale		570	5,730	3,570	3,900
(Gain)Loss P.P.&E. Sale		(370)	(2,420)	(2,710)	(2,450)
Net (Incr) P.P.&E.		(13,270)	(14,820)	(6,390)	(8,300)

Ratios

Southwest Materials, Inc.
Financial Statement Analysis	2007	2008	2009	2010	2011
Liquidity Analysis
Current Ratio	1.35	0.99	1.53	1.81
Acid-Test Ratio	0.93	0.74	1.08	1.39
Acc Receivable Turnover Ratio	8.27	8.23	8.37	8.21
Days' Sales in Receivables	43.53	43.73	43.03	43.82
Inventory Turnover Ratio	18.28	18.16	18.91	17.75
Days' Goods in Inventory	19.69	19.82	19.04	20.28
Cash-to-Cash Operating Cycle	63.22	63.55	62.07	64.10
Solvency Analysis
Debt-to-Equity Ratio	0.51	0.76	0.76	0.63
Times Interest Earned	128.33	63.27	30.71	32.07
Profitability Analysis
Gross Margin	22.00%	22.99%	22.50%	23.50%
Profit Margin	7.91%	8.40%	10.00%	10.13%
Return on Assets Ratio	1.18%	9.36%	10.62%	10.35%
Return on Equity Ratio	1.73%	15.14%	18.12%	16.94%
Asset Turnover Ratio	0.15	1.10	1.03	0.99
Sales Per Employee	186.48	206.89	202.93	213.00	218.82
Gross Profit Per Employee	41.03	47.57	45.66	50.05	52.71
Net Income Per Employee	14.76	17.37	20.29	21.57	23.67
Other Data
Average Market Price Per Share	26.49	34.18	31.03	27.88	30
Weighted Avg Share Oustanding	5,300	5,300	5,300	5,300	5,300
Employees at Year End	330	350	410	420	425
Economic Value Added
Working Capital	3,240	(90)	5,330	8,760	10,520
Other Assets	2,590	3,800	3,880	4,380	5,000
Goodwill	1,140	5,870	6,140	6,830	7,000
Net Fixed Assets	40,130	52,490	60,820	63,640	67,150
Capital Employed	47,100	62,070	76,170	83,610	89,670
Average Prime Interest Rate	6.92%	4.68%	4.12%	4.34%	6.19%
Estimated W. Avg. Cost of Cap.
Unsecured Notes	0.64%	0.07%	0.03%	0.01%	0.00%
Revolving Credit Agreement	0.00%	6.39%	0.00%	5.11%	4.50%
Industrial Development Bonds	1.39%	0.25%	1.12%	0.15%	0.50%
Industrial Development Bonds	1.90%	0.49%	0.51%	0.15%	0.25%
Secured Note	0.00%	0.00%	2.28%	0.59%	1.00%
Secured Note	0.53%	0.12%	0.25%	0.54%	0.75%
Total W.A.C.C.	4.46%	7.32%	4.20%	6.56%	7.00%
Net Operating Profit After Tax	4,711	5,891	6,933	7,537	8,687
(Capital Employed * WACC)	2,103	4,544	3,197	5,483	6,277
Economic Value Added	2,608	1,348	3,737	2,054	2,410

Equa

Southwest Materials, Inc.
Financial Statement Analysis
Liquidity Analysis
Current Ratio			= Current Assets/Current Liabilities
Acid-Test Ratio			= (Cash+Marketable Securities+Accounts Receivable)/Cur Liab
Acc Receivable Turnover Ratio			= Net Credit Sales/Average Accounts Receivable
Days' Sales in Receivables			= Days in Period/Accounts Receivable Turnover Ratio
Inventory Turnover Ratio			= Cost of Goods Sold/Average Inventory
Days' Sales in Inventory			= Days in Period/Inventory Turnover Ratio
Cash-to-Cash Operating Cycle			= Days' Sales in Inventory + Days' Sales in Receivables
Solvency Analysis
Debt-to-Equity Ratio			= Total Liabilities/Total Stockholders' Equity
Times Interest Earned			=(Net Income + Interest Expense + Taxes)/Interest Expense
Profitability Analysis
Gross Margin			= Gross Profit/Net Sales
Profit Margin			= Net Income/Net Sales
Return on Assets Ratio			= (Net Income + Interest Expense, Net of Tax)/Avg Tot Assets
Return on Equity Ratio			= (Net Income - Pref Div)/Avg Common Stockholders' Equity
Asset Turnover Ratio			= Net Sales/Average Total Assets
Sales Per Employee			= Net Sales/Number of Employees
Gross Profit Per Employee			= Gross Profit/Number of Employees
Net Income Per Employee			= Net Income/Number of Employees
Economic Value Added			= Net Operating Profit After Tax - (Capital Employed * WACC)