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University of San Jose-Recoletos

Magallanes St., Cebu City

Financial Statement
Case Study
Submitted by:
Trisha Mae R. Lauron
Nio S. Llanto
Jeshanyn Dexie C. Ompad
Centenielle Roseate E. Rodrigo
Halleydawn Isabel M. Silva
Ruth J. Ypanto

Submitted to:
Dr. Mary Joan C. Ocampo, PIE, ASEAN Engr.
VERTICAL ANALYSIS
EBC Enterprise Inc.
Balance Sheets at December 31, 2016 and 2015
2016 % 2015 %
Assets
Current Assets
Cash 2,030.50 4.26% 1,191 3.14%
Marketable securities 2,636 5.53% 4,002 10.54%
Accounts receivable 4,704 9.87% 4,383.50 11.55%
Allowance for doubtful accounts (224) 0.47% (208.5) 0.55%
Inventories 23,520.50 49.36% 18,384.50 48.44%
Prepaid expenses 256 0.54% 379.5 1.00%
Total current assets 32,923 69.09% 28,132 74.12%

Property, Plant and Equipment


Land 405.5 0.85% 405.5 1.07%
Buildings and leasehold improvements 9,136.50 19.17% 5,964 15.71%
Equipment 10,761.50 22.58% 6,884 18.14%
20,303.50 42.61% 13,253.50 34.92%
Less Accumulated depreciation and amortization (5,764) 12.10% (3,765) 9.92%
Net property, plant and equipment 14,539.50 30.51% 9,488.50 25.00%

Other assets 186.5 0.39% 334 0.88%


Total assets 47,649 100.00% 37,954.50 100.00%

Liabilities and Equity


Current Liabilities
Accounts Payable 7,147 15.00% 3,795.50 10.00%
Notes Payable - banks 2,807 5.89% 3,006 7.92%
Current maturities of long-term debt 942 1.98% 758 2.00%
Accrued Liabilities 2,834.50 5.95% 2,656.50 7.00%
Total current liabilities 13,730.50 28.82% 10,216 26.92%
Deferred Income taxes 421.5 0.88% 317.5 15.76%

Long-term debt 10,529.50 22.10% 8,487.50 22.36%


Total liabilities 24,681.50 51.80% 19,021 50.12%

Equity
Ordinary shares per value P1, authorized 10,000,000 2,401.50 5.04% 2,297 6.05%
shares; issued, 2,297,000 shares in 2016 and 2401500
shares in 2015
Additional paid-in capital 478.5 1.00% 455 1.20%
Retained earnings 20,087.50 42.16% 16,181.50 42.63%
Total equity 22,967.50 48.20% 18,933.50 49.88%
Total Liabilities and Equity 47,649 100.00% 37,954.50 100.00%
EBC Enterprises, Inc.
Income Statements and Retained Earnings
For the Years Ended December 31, 2016 and 2015
2016 % 2015 %
Net Sales 107,800.0 100% 76,500.0 100%
Cost of Goods Sold 64,682.0 60% 45,939.5 60.05%
Gross Profit 43,118.0 40% 30,560.5 39.95%

Selling and Administrative Expenses 16,322.0 15.14% 13,191.0 17.24%


Advertising 7,129.0 6.61% 5,396.0 7.05%
Lease payments 6,529.0 6.06% 3,555.5 4.65%
Depreciation and Amortization 1,999.0 1.85% 1,492.0 1.95%
Repairs and Maintenance 1,507.5 1.40% 1,023.0 1.34%
Total 33,496.5 31.07% 24,657.5 32.23%
Operating Profit 9,621.5 8.93% 5,903.0 7.72%

Other Income (expenses)


Interest Income 211.0 0.20% 419.0 0.55%
Interest Expense (1,292.5) 1.20% (1,138.5) 1.49%
Earnings before income taxes 8,540.0 7.92% 5,183.5 6.78%

Income Taxes 3,843.0 3.56% 2,228.5 2.91%


Net Income 4,697.0 4.36% 2,955.0 3.86%

Earnings per common share 2.0 0.00% 1.29 0.00%

Statements of Retained Earnings


Retained earnings at beginning of year 16,181.5 15.01% 14,157.5 18.51%
Net Income 4,697.0 4.36%% 2,955.0 3.86%

Cash dividends (2011- 0.33 per share;


2010- 0.41 per share) (791.0) 0.73% (931.0) 1.22%
Retained earnings at the end of year 20,087.5 18.63% 16,181.5 21.15%
HORIZONTAL ANALYSIS
EBC Enterprise Inc.
Balance Sheets at December 31, 2016 and 2015
2016 % 2015
Assets
Current Assets
Cash 2,030.50 0.70% 1,191
Marketable securities 2,636 -34.13% 4,002
Accounts receivable 4,704 7.31% 4,383.50
Allowance for doubtful accounts (224) 7.43% (208.5)
Inventories 23,520.50 27.94% 18,384.50
Prepaid expenses 256 -32.54% 379.5
Total current assets 32,923 17.03% 28,132

Property, Plant and Equipment


Land 405.5 0.00% 405.5
Buildings and leasehold improvements 9,136.50 53.19% 5,964
Equipment 10,761.50 56.33% 6,884
20,303.50 53.19% 13,253.50
Less Accumulated depreciation and amortization (5,764) 53.09% (3,765)
Net property, plant and equipment 14,539.50 53.23% 9,488.50

Other assets 186.5 -44.16% 334


Total assets 47,649 25.54% 37,954.50

Liabilities and Equity


Current Liabilities
Accounts Payable 7,147 88.30% 3,795.50
Notes Payable - banks 2,807 -6.62% 3,006
Current maturities of long-term debt 942 24.27% 758
Accrued Liabilities 2,834.50 6.70% 2,656.50
Total current liabilities 13,730.50 34.40% 10,216
Deferred Income taxes 421.5 32.76% 317.5

Long-term debt 10,529.50 24.06% 8,487.50


Total liabilities 24, 681.5 19,021

Equity
Ordinary shares per value P1, authorized 10,000,000 shares;
2,401.50 4.55% 2,297
issued, 2,297,000 shares in 2016 and 2401500 shares in 2015
Additional paid-in capital 478.5 5.16% 455
Retained earnings 20,087.50 24.14% 16,181.50
Total equity 22,967.50 21.31% 18,933.50
Total Liabilities and Equity 47,649 25.54% 37,954.50
EBC Enterprises, Inc.
Income Statements and Retained Earnings
For the Years Ended December 31, 2016 and 2015
2016 % 2015
Net Sales 107,800.0 40.92% 76,500.0
Cost of Goods Sold 64,682.0 40.80% 45,939.5
Gross Profit 43,118.0 41.09% 30,560.5

Selling and Administrative Expenses 16,322.0 23.74% 13,191.0


Advertising 7,129.0 32.12% 5,396.0
Lease payments 6,529.0 83.63% 3,555.5
Depreciation and Amortization 1,999.0 33.98% 1,492.0
Repairs and Maintenance 1,507.5 47.36% 1,023.0
Total 33,496.5 35.85% 24,657.5
Operating Profit 9,621.5 62.99% 5,903.0

Other Income (expenses)


Interest Income 211.0 -49.64% 419.0
Interest Expense (1,292.5) 13.53% (1,138.5)
Earnings before income taxes 8,540.0 64.75% 5,183.5

Income Taxes 3,843.0 72.45% 2,228.5


Net Income 4,697.0 58.95% 2,955.0

Earnings per common share 2.0 55.04% 1.29

Statements of Retained Earnings


Retained earnings at beginning of year 16,181.5 14.30% 14,157.5
Net Income 4,697.0 58.95% 2,955.0

Cash dividends (2011- 0.33 per share;


2010- 0.41 per share) (791.0) -15.04% (931.0)
Retained earnings at the end of year 20,087.5 24.14% 16,181.5
FINANCIAL RATIO ANALYSIS

Efficiency Ratios Current Ratio = Current Assets Current

Accounts Receivable Turnover Ratio = Net Liabilities

Credit Sales Average Accounts Receivable 28,132 2015 = 2.75



10,216 2016 = 39,923
2015 = 17.45 76,500
13,750.5
times 4,383.5 2.9

107,800 2016 = 22.91 Quick Ratio = (Current Assets Inventory)



4,704 times Current Liabilities
Inventory Turnover Ratio = Cost of goods sold 28,1321 8,384.5

2015 =
10,216 0.95
Average Inventory
45,939.5 2015 = 2.5 39,9232 3,520.5

2016 =

18,384.5 times 13,730.5 1.19
2016 = 2.75 64,682 Average Collection Period = Accounts

times 23,520.5 Receivable (Sales 365)
Asset Turnover Ratio = Net Sales Total Assets 4,383.5 2015 =

76,500 2015 = 2.02
76,500 365 20.91 days

37,954.5 times 2016 = 4,704

107,800 2016 = 2.26 15.93 days 107,800 365

47,649 times
Fixed Asset Turnover Ration = Net Sales Fixed Analysis:
Asset
2015 = 8.06 76,500

times 9,488.5

107,800 2016 = 7.41



14,539.5 times

Analysis:

Liquidity Ratios
Profitability Ratios Solvency Ratios
Net Profit Margin Ratio = Net Profit Net Sales Debt Ratio = Total Liabilities Total Assets
5,903 2015 = 0.0772 19,021 2015 =

76,500 7.72% 37,954.5 0.5012 50.12%

9,621.5 2016 = 0.0893 24,681.5 2016 =



107,800 8.93% 42,649 0.5787 57.87%
Gross Profit Margin Ratio = Gross Profit Net Debt-to-Equity Ratio = Total Liabilities Total
Sales Equity
2015 = 30,560.5 2015 = 19,021

0.3995 39.95% 76,500 1.0046 100.46% 18,933.5
43,118 2016 = 2016 = 1.0746 24,681.5

107,800 0.39998 0.4 107.46% 22,967.5

40% Times Interest-earned = Earnings before interest


Rate of Return on Asset = Net Income Average and income taxes or EBIT Interest Expense
Total Assets 2015 = 4.55 5,183.5

2,995 2015 = times 1,138.5

37,954.5 0.0779 7.79% 8,540 2016 = 6.61

2016 = 0.0982 4,679 1,292.5 times

9.82% 47,649

Rate of Return on Equity = Net Income Analysis:


Common Equity
2015 = 2,955

0.1561 15.61% 18,933.5

2016 = 4,697

0.2045 20.45% 22,967.5

Dividend Payout Ratio = Total Cash Dividends


Net Income
931 2015 = 0.3151

2,955 31.51%

2016 = 0.1684 791



16.84% 4,697

Analysis:

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