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FMA Assignment

The comparative balance sheet shows Zebra Share Company's assets decreased from Br 153.9 million in 2021 to Br 136.8 million in 2022, with current assets declining from Br 57.6 million to Br 51 million. Total liabilities also decreased from Br 98.1 million to Br 93.3 million. The income statement shows the company generated a net income of Br 3.9 million in 2022 on net sales of Br 196.2 million.

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Getahun Mulat
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117 views

FMA Assignment

The comparative balance sheet shows Zebra Share Company's assets decreased from Br 153.9 million in 2021 to Br 136.8 million in 2022, with current assets declining from Br 57.6 million to Br 51 million. Total liabilities also decreased from Br 98.1 million to Br 93.3 million. The income statement shows the company generated a net income of Br 3.9 million in 2022 on net sales of Br 196.2 million.

Uploaded by

Getahun Mulat
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CPU BUSINESS AND INFORMATION TECHNOLOGY COLLEGE

MBA PROGRAM

Zebra Share Company


Comparative Balance Sheet
December 31, 2021 and 2022
(In thousands of Birrs)
Assets 2021 2022
Current assets:
Cash 9,000 7,000
Marketable securities 3,000 2,000
Accounts receivable (net) 20,700 18,300
Inventories 24,900 23,700
Total current assets 57,600 51,000
Fixed assets:
Land and buildings 33,000 27,000
Plant and equipment 130,500 120,000
Total fixed assets 163,500 147,000
Less: accumulated depreciation 67,200 61,200
Net fixed assets 96,300 85,800
Total assets 153,900 136,800
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable 20,100 17,100
Notes payable 14,700 13,200
Taxes payable 3,300 3,000
Total current liabilities 38,100 33,300
Long-term debt:
Mortgage bonds –5% 60,000 60,000
Total liabilities 98,100 93,300
Stockholders’ equity:
Preferred stock –5% (Br. 100 par) 6,000 -
Common stock (Br. 10 par) 33,000 30,000
Capital in excess of par value 7,500 4,500
Retained earnings 9,300 9,000
Total stockholders’ equity 55,800 43,500
Total liabilities and stockholders’ equity 153,900 136,800

Zebra Share Company


Income Statement
For the Year Ended December 31, 2022
________________________________________________________________________
Net sales Br. 196,200,000
Cost of goods sold 159,600,000
Gross profit Br. 36,600,000
Operating expenses* 26,100,000
Earnings before interest and taxes (EBIT) Br. 10,500,000
Interest expense 3,000,000
Earnings before taxes (EBT) Br. 7,500,000
Income taxes 3,600,00
Net income Br. 3,900,000

* Included in operating expenses are Br. 6,000,000 depreciation and Br. 2,700,000 lease
payment.

Zebra Share Company


Statement of Retained Earnings
For the Year Ended December 31, 2022

Retained earnings at beginning of year Br. 9,000,000


Add: Net income 3,900,000
Sub-total Br. 12,900,000
Less: Cash dividends
Preferred Br. 300,000
Common 3,300,000
Sub-total Br. 3,600,000
Retained earnings at end of year Br. 9,300,000
Required: calculate the ratio analysis and give appropriate interpretation

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