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    Latihan Tugas ALK - Prospective Analysis

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    Selvy Monibolly
    This document contains the financial statements and ratios of Target Corporation for the years 2018, 2017, and 2016. It includes income statements, balance sheets, and various financial ratios to analyze Target's performance and financial position over those years. The document requests to [1] project Target's 2019 income statement and balance sheet based on given assumptions, and [2] provide advice if the company's cash balance is negative regarding improving its financial leverage ratio.

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    © All Rights Reserved
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    Latihan Tugas ALK - Prospective Analysis

    Uploaded by

    Selvy Monibolly
    165 views3 pages
    This document contains the financial statements and ratios of Target Corporation for the years 2018, 2017, and 2016. It includes income statements, balance sheets, and various financial ratios to analyze Target's performance and financial position over those years. The document requests to [1] project Target's 2019 income statement and balance sheet based on given assumptions, and [2] provide advice if the company's cash balance is negative regarding improving its financial leverage ratio.

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    Latihan Tugas ALK - Prospective Analysis.docx

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    This document contains the financial statements and ratios of Target Corporation for the years 2018, 2017, and 2016. It includes income statements, balance sheets, and various financial ratios to analyze Target's performance and financial position over those years. The document requests to [1] project Target's 2019 income statement and balance sheet based on given assumptions, and [2] provide advice if the company's cash balance is negative regarding improving its financial leverage ratio.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    165 views3 pages

    Latihan Tugas ALK - Prospective Analysis

    Uploaded by

    Selvy Monibolly
    This document contains the financial statements and ratios of Target Corporation for the years 2018, 2017, and 2016. It includes income statements, balance sheets, and various financial ratios to analyze Target's performance and financial position over those years. The document requests to [1] project Target's 2019 income statement and balance sheet based on given assumptions, and [2] provide advice if the company's cash balance is negative regarding improving its financial leverage ratio.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    UAS ALK – REGULER PAGI

    KASUS TARGET CORPORATION

    Berikut laporan keuangan Target Corporation berikut rasio keuangan sebagai dasar
    penyusunan projected financial statements.

    Target Corporation Income Statement (in $)


    2018 2017 2016
    Net sales 39,888 36,903 33,702
    Cost of goods sold 27,246 25,295 23,029
    Gross profit 12,642 11,608 10,673
    Selling, general and administrative exp. 8,883 8,190 7,490
    Depreciation and amortization expenses 1,079 940 854
    Interest expense 464 425 393
    Income before tax 2,216 2,053 1,936
    Income tax expense 842 789 751
    Loss from extraordinary items and dis-
    counted operations 6 0 41
    Net income 1,368 1,264 1,144
    Outstanding shares 905 898 912

    Selected ratios
    Sales growth 7.50 % 9.50 % 9.91 %
    Gross profit margin 30.00 31.46 31.67
    Selling, general and admin. Exp./Sales 25.00 22.19 22.22
    Depreciation exp./Gross prior year PP&E 7.50 6.80 6.70
    Interest exp./Prior year long term debt 7.00 8.47 8.35
    Income tax expense/Pretax expense 30.00 38.43 38.79

    Balance sheet 2018 2017 2016


    Asset
    Current assets
    Cash 499 356 220
    Receivables 3,831 1,941 1,724
    Inventories 4,449 4,248 3,798
    Other current assets 869 759 741
    Total current assets 9,648 7,304 6,483
    Property, plant and equipment (PP&E) 18,442 15,759 13,824
    Accumulated depreciation 4,909 4,341 3,925
    Net PPE 13,553 11,418 9,899
    Other non-current assets 973 768 761

    107
    Total assets 24,154 19,490 17,143
    Liabilities and Shareholders’ Equity
    Current Liabilities
    Accounts payable 4,160 3,576 3,514
    Current portion of long term debt 905 857 498
    Accrued expenses 1,566 1,507 1,520
    Income tax payable 423 361 318

    Total current liabilities 7,054 6,301 5,850


    Deferred income taxes and other liab. 1,152 1,036 910
    Long-term debt 8,088 5,634 4,521
    Total liabilities 16,294 12,971 11,281

    Shareholders’ Equity
    Preferred stock 0 0 0
    Common stock 75 75 76
    Capital surplus 1,098 902 730
    Retained earnings 6,687 5,542 5,056
    Shareholders’ equity 7,860 6,519 5,862
    Total liabilities and net worth 24,154 19,490 17,143

    Selected ratios
    Accounts receivable Turnover rate 10.50 19.01 19.55
    Inventory turnover rate 6.00 5.95 6.06
    Accounts payable turnover rate 6.50 7.07 6.55
    Accrued expenses turnover rate 25.50 24.49 22.17
    Tax payable / Tax expense 50.00 % 45.75 % 42.34 %
    Financial leverage 3.00 2.99 2.92
    Dividends per share $ 0.225 $ 0.215 $ 0.214
    Capital expenditures (CAPEX) $ 3,163 $ 2,528 $ 1,918
    CAPEX / Sales 7.90 % 6.85 % 5.69 %

    Diminta :
    a. Buatlah Projected Income Statement untuk tahun berakhir 2019 dan Projected
    Balance Sheet tahun 2019 jika current portion of LTD sebesar $ 750, ESOP $ 25!
    b. Jika nilai kas perusahaan negatif, berikan saran kepada perusahaan terkait
    kemampuan Financial Leverage Perusahaan adalah 3,00 namun perusahaan masih
    dapat meningkatkannya sampai ke nilai 3,50.

    108
    109

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