Beruflich Dokumente
Kultur Dokumente
2008
Cash flow from operating activities
Net income (loss) after taxes
Adjustment for:
Amortization of property,plant & equipment
Changes in:
Account receivable
Inventories
Prepaid Expense
Account Payable
Corporate income taxes payable
Deferred corporate income taxes
Net cash flow from Operating activities
Cash flow from investing activities
(Increase) decrease in property,plant & equipment
Proceeds from sale of (acquisition of) other assets
Net cash from investing activities
Cash flow from Financing activities
Proceeds from (repayment of) notes payable
Proceeds from (repayment of) Long-term Debt
Proceeds from (repayment of) other liabilities
Proceeds from issuing (repurchase of) share capital
Dividends Paid
Net cash from (used in) financing activities
Net increase (decrease) in cash and cash equivale
256,195
81,387
337,582
(443,060)
(683,811)
(8,610)
(75,220)
110,466
15,336
(1,084,899)
(747,317)
(177,982)
(21,791)
(199,773)
1,032,547
(11,933)
(3,784)
(54,593)
(143,343)
818,894
(128,196)
337,990
209,794
ASH FLOWS
ary 31)
2009
2010
73,916
(1,415,678)
89,903
163,819
90,744
(1,324,934)
5,607
(346,485)
(4,414)
3,158
(240,954)
18,462
(564,626)
(400,807)
738,234
293,439
4,800
164,943
(565,303)
(99,320)
536,793
(788,141)
(154,747)
(59,590)
(214,337)
(97,171)
(37,378)
(134,549)
427,567
421,730
(3,376)
14,184
(143,207)
716,898
101,754
209,794
311,548
996,002
192,972
(13,648)
6,007
(30,218)
1,151,115
228,425
311,548
539,973
Comments:
Return on Equity
Comments:
Return on Asset
Comments:
Day receivables
Formula
Gross Profit
Sales
Calculation
3,547,560
11,176,830
2008
=
31.74%
Calculation
3,870,214
12,568,581
2009
=
30.79%
BNL net profit margin is continuously decreasing from 2008 to 2010 due to the fact of increasing cost and n
significant change in sales.
Net income
Total Equity
256,195
2,266,811
11.30%
73,916
221,704
33.34%
Stockholder expect to earn on their money, and ROE shows that how well they are doing. But we can see th
trend from 11.30% to 33.34%, which shows that the company has effectively used the money of stockholde
operations, but in 2010 the ratio is negative i.e. -183.42%. The negative ratio tells that the company has su
huge loss on the stockholders investment which can be due to management ineffeicency or lack of account
policies
Net Income
Total Asset
256,195
7,530,533
3.40%
73,916
8,102,013
0.91%
Assets are a contributing factor towards the income of the company. We can see the decreasing trend of RO
is due to the increasing debt. Increasing debt means that the company has to pay more interest which caus
net income to fall. In 2010, the company has negative net income due to high cost & and high interest expe
Receivables
(Annual Sales/365)
3,689,622
30,621.45
120.49
3,684,015
34,434.47
106.99
Comments:
Ratio
Inventory Turnover
Comments:
Comments:
Current Ratio
Comments:
There is a decreasing trend in DSO which means that the company is getting efficient in collecting payment
customers. This improvement can help them in generation of funds more quickly which can help them to re
bank loans etc.
Formula
Sales
Inventories
Calculation
11,176,830
2,708,834
2008
=
4.13
Calculation
12,568,581
3,055,319
2009
=
4.11
There is no such significant change in the inventory turnover ratio over the time period. BNL inventory is st
and then restocked approximately 4 times per year which suggest that they are holding too much inventory
compared to sales.
Sales
Total Assets
11,176,830
7,530,533
1.48
12,568,581
8,102,013
1.55
We can see that the ratio is increasing over the period. We can see the trend of increased sales in 2009 as
to total asset; and decreased asset in 2010. This is due to fact that DSO is decreasing, meaning company is
in collecting its account receivables; inventory turnover has increased to some extent which means the com
holding less inventories; and prepaid expense has also decreased in 2010 whicn contributed an increase in
Current Asset
Current Liability
6,653,323
4,292,203
1.55
7,100,369
4,481,974
1.58
Current ratio shows that how well the operations from current asset can pay off the current liabilities of the
can see an irrergular change in ratio, over the time period. From 2008 to 2009 the current ratio has increase
is due to the increased current asset and decreased liabilities. Similarly, from 2009 to 2010 we can see the
decreased which means that the current liabilities has increased as compared to the current asset. Current
not reliable as it does not exhibit the true picture of current assets, for which quick ratio is used.
Ratio
Quick Ratio
Comments:
Comments:
Formula
Calculation
3,899,416
4,292,203
2008
=
0.91
Calculation
3,995,563
4,481,974
2009
=
0.89
As previously we saw an increasing trend, of current ratio, from 2008 to 2009 but quick ratio reflects the tru
of the firm dependance on increased inventories and prepaid expense. However, in 2010 inventories and pr
expense has decreased but the current liabilities have increased due to account payable and Short-term no
payable.
Total Debt
Total Equity
5,263,722
2,266,811
2.32
5,890,309
2,211,704
2.66
The D/E ratio is increasing over the time period because the firm's debt has increased as compared to total
Due to high debt BNL is paying more interest which has decreased the Profit margin over the time period; a
negative net income in 2010. A significant change of equity in 2010 also tells us that the company has a lot
retained earnings due to which the loss was off-set and there is not much share capital in the company. This
that the company have a high chance of bankruptcy as well, unless it tries to imporve the operations.
Calculation
3,138,618
11,974,768
2010
=
26.21%
(1,415,678)
771,815
= -183.42%
(1,415,678)
7,337,770
-19.29%
89.79
Calculation
11,974,768
2,761,880
2010
=
4.34
11,974,768
7,337,770
1.63
1.24
Calculation
3,485,754
5,077,616
2010
=
0.69
6,565,955
771,815
8.51