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toy world case, Corporate finance
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### Jan Feb Mar Apr MayCash 200 878 1526 1253 1054 915Accounts Receivable 2905 1060 260 300 300 280Inventory 586 586 586 586 586 586Current Assets 3691 2524 2372 2139 1940 1781Net Plant and Equip 1176 1176 1176 1176 1176 1176Total Assets 4867 3700 3548 3315 3116 2957Accounts Payable 282 36 42 48 42 42Notes Payable, Bank 752 0 0 0 0 0Accrued Taxes 88 31 -23 -162 -251 -305LT Debt - current portion 50 50 50 50 50 50Current Liabilities 1172 117 69 -64 -159 -213LT Debt 400 400 400 400 400 400SH equity 3295 3183 3079 2979 2875 2770Total Liabilities and Equity 4867 3700 3548 3315 3116 2957
31 (23) (162) (251) (305) (0) 0 (0)
Jan Feb Mar Apr MayNet Sales 120 140 160 140 140 COGS 84 98 112 98 98 Gross Profit 36 42 48 42 42 Ops Expense 200 200 200 200 200 Interest Expense 7 4 4 4 4 Interest Income 2 4 5 4 3 PBT (169) (158) (151) (158) (159)Tax (57) (54) (51) (54) (54)Net Profit (112) (104) (100) (104) (105)
Assumed COGS = 70%Ops Exp assumed to be equal every monthReturn of 4% on average monthly cash balanceFederal taxes = 34%
Jan Feb Mar Apr MayOpening Balance 200 878 1,526 1,254 1,054 Receivables 1,965 940 120 140 160 Interest Income 2 4 5 4 3
Interest Payable 7 4 4 4 4 Account Payables 330 92 106 104 98 Ops Expense 200 200 200 200 200 COGSTax Paid (0) 0 88 35 (0)LT debt retired 0 0 0 0 0Bank Notes Retired 752 0 0 0 0Closing Balance 878 1,526 1,254 1,054 915
Jun Jul Aug Sep Oct Nov Dec696 527 200 200 200 200 200280 300 1780 3460 3980 4425 3400586 586 586 586 586 586 586
1562 1413 2566 4246 4766 5211 41861176 1176 1176 1176 1176 1176 11762738 2589 3742 5422 5942 6387 5362
42 48 486 552 642 686 3340 0 433 1741 1745 1677 942
-394 -448 -352 -271 -126 33 4050 50 50 50 50 50 50
-302 -350 617 2072 2311 2446 1366375 375 375 375 375 375 350
2665 2564 2750 2975 3256 3566 36462738 2589 3742 5422 5942 6387 5362
Jun Jul Aug Sep Oct Nov Dec Total 140 160 1,620 1,840 2,140 2,285 1,115 10,000 98 112 1,134 1,288 1,498 1,600 781 7,000 42 48 486 552 642 686 335 3,000 200 200 200 200 200 200 200 2,400 4 3 5 12 17 17 14 95 3 2 1 1 1 1 1 28 (159) (153) 282 341 426 470 122 533 (54) (52) 96 116 145 160 41 181 (105) (101) 186 225 281 310 80 352
Jun Jul Aug Sep Oct Nov Dec 915 696 527 200 201 201 201 140 140 140 160 1,620 1,840 2,140 3 2 1 1 1 1 1
4 3 5 12 17 17 14 98 106 696 1,222 1,408 1,556 1,133 200 200 200 200 200 200 200
35 2 (0) 35 (0) 1 34 25 0 0 0 0 0 25
0 0 -433 -1308 -4 68 735 696 527 200 201 201 201 201
Balance Sheet31-Dec-93 Jan Feb Mar Apr May
Cash 200 621 808 200 200 200 Accounts Receivable 2,905 1,060 260 300 300 280 Inventory 586 1,050 1,502 1,940 2,391 2,843 Current Assets 3,691 2,731 2,569 2,440 2,892 3,323 Net Plant and Equip 1,176 1,176 1,176 1,176 1,176 1,176 Total Assets 4,867 3,907 3,745 3,616 4,068 4,499 Accounts Payable 282 250 250 250 250 250 Notes Payable, Bank 752 - - 114 765 1,366 Accrued Taxes 88 28 (27) (168) (259) (316)LT Debt - current portion 50 50 50 50 50 50 Current Liabilities 1,172 328 273 246 806 1,350 LT Debt 400 400 400 400 400 400 SH equity 3,295 3,179 3,072 2,970 2,861 2,749 Total Liabilities and Equity 4,867 3,907 3,745 3,616 4,068 4,499
Balance Sheet Difference - - - - - -
Profit and Loss Account Jan Feb Mar Apr May
Net Sales 120 140 160 140 140 COGS 78 91 104 91 91 Gross Profit 42 49 56 49 49 Ops Expense 210 210 210 210 210 Interest Expense 9 4 4 4 9 Interest Income 1 2 2 1 1 PBT (176) (162) (155) (165) (169)Tax (60) (55) (53) (56) (58)Net Profit (116) (107) (103) (109) (112)
Cash Book Jan Feb Mar Apr May
Opening Balance 200 621 808 200 200 Receivables 1,965 940 120 140 160 Borrowings - - 114 651 601 Interest Income 1 2 2 1 1
Interest Payable 9 4 4 4 9 Account Payables 282 250 250 250 250 Ops Expense 210 210 210 210 210 Inventory Build Up 293 293 293 293 293 Tax Paid - - 88 35 - LT debt retired - - - - - Bank Notes Retired 752 - Closing Balance 621 808 200 200 200
Average Cash Balance 411 719 Shortfall 114 651 601
Balance SheetJun Jul Aug Sep Oct Nov Dec 200 200 200 200 200 200 200 280 300 1,780 3,460 3,980 4,425 3,400 3,294 3,733 3,220 2,565 1,714 769 586 3,774 4,232 5,200 6,225 5,894 5,395 4,186 1,176 1,176 1,176 1,176 1,176 1,176 1,176 4,950 5,408 6,376 7,401 7,070 6,571 5,362 250 250 250 250 250 250 250 2,051 2,681 3,316 3,971 3,135 2,074 764 (410) (469) (355) (253) (81) 110 130 50 50 50 50 50 50 50 1,941 2,512 3,261 4,018 3,354 2,484 1,194 375 375 375 375 375 375 350 2,635 2,521 2,741 3,008 3,341 3,712 3,818 4,950 5,408 6,376 7,401 7,070 6,571 5,362
- - - - - - -
Profit and Loss Account Jun Jul Aug Sep Oct Nov Dec Total 140 160 1,620 1,840 2,140 2,285 1,115 10,000 91 104 1,055 1,198 1,393 1,488 726 6,510 49 56 565 642 747 797 389 3,490 210 210 210 210 210 210 210 2,515 14 19 24 28 33 27 19 194 1 1 1 1 1 1 1 12 (174) (172) 333 405 505 562 161 793 (59) (58) 113 138 172 191 55 270 (115) (113) 220 267 333 371 106 523
Cash Book Jun Jul Aug Sep Oct Nov Dec 200 200 200 200 200 200 200 140 140 140 160 1,620 1,840 2,140 685 630 635 655 - - - 1 1 1 1 1 1 1
14 19 24 28 33 27 19 250 250 250 250 250 250 250 210 210 210 210 210 210 210 293 293 293 293 293 293 293 35 - - 35 - - 35 25 - - - - - 25
836 1,061 1,310 200 200 200 200 200 200 200
685 630 635 655
Excess Profits 172
Jan Feb Mar Apr May Jun JulInterest Expense 9.249375 3.609375 3.609375 4.464375 9.346875 13.85438 18.79135Notes Payable 5.64 0 0 0.855 5.7375 10.245 15.3825LT Debt 3.609375 3.609375 3.609375 3.609375 3.609375 3.609375 3.408854Interest Incomeaverage Cash Balance
Aug Sep Oct Nov Dec23.51635 28.27885 33.19135 26.92135 18.96385
20.1075 24.87 29.7825 23.5125 15.5553.408854 3.408854 3.408854 3.408854 3.408854
