Unit II AssignmentUse the provided Excel template to submit your responses to each of the study problems from the textbook below:3-13, p. 72. Review of financial statements3-15, p. 73. Analyzing the cash flow statement4-25, p. 116. Calculating financial ratiosEach question has a corresponding worksheet (look for the tab along the bottom of the workbook). The cells can beadjusted, added, or removed as necessary.Click here for the Excel assignment template.Information about accessing the Grading Rubric for this assignment is provided below. Problem 3-13Warner Company Balance SheetCurrent Assets Warner Company Income StatementRecall from reading checkpoint 3.1to construct an income statementin this space, adjusting as needed.(You may delete these instructions.) Long Term (fixed) assets Current Liabilities Long-term Liabilities Owners Equity Total liabilities and equity Q. What can you say about the firm’s financial condition based on these financialstatements? Q. Using the CSU Online Library find one article that discuses financial statements, cash flow, or ratio analysis. Brieflysummarize the key points of the article as it relates to this unit. You may use any of the databases, but Business SourceComplete is a good starting place. Problem 3-15Answer the following four questions using the information found in the statements.a. Does BigBox generate positive cash flow from its operations? b. How much did BigBox invest in new capital expenditures over the last four years? c. Describe BigBox’s sources of financing in the financial markets over the last four years. d. Based solely on the cash flow statement for 2010 through 2013, write a brief narrative thatdescribes the major activities of BigBox’s management team over the last four years. Problem 4-25 Step 1Step 2Step 3Step 4Step 5Step 6Step 7Step 8Step 9Step 10Step 11 Instructions to use the Solution TemplateEnter the given values from the textbook on page 116 in the yellow colored cells below.In Cell E52, Calculate Current ratio using formula "Current Assets / Current Liabilities"In Cell E53, Calculate Times interest earned using formula "Net Operating Income/ Interest Expense"In Cell E54, Calculate Inventory Turnover using formula "Cost of goods sold/ Inventory"In Cell E55, Calculate Total Asset turn Over using formula "Net Sales / Total Assets"In Cell E56, Calculate Operating Profit Margin using formula "Net Operating Income / Net Sales"In Cell E57, Calculate Operating Return on Assets using formula "Net Operating Income / Total Assets"In Cell E58, Calculate Debt Ratio using formula "( Current Liabilities + Long-term debt) / Total Assets"In Cell E59, Calculate Average Collection Period using formula "( Accounts Receivable * 365 ) / Credit Sales "In Cell E60, Calculate Fixed Asset Turnover using formula "Net Sales / Net Fixed Assets "In Cell E61, Calculate Return on Equity using formula "Net Income / Owner’s Equity" GivenJ. P. Robard Mfg., Inc.Balance Sheet ($000)CashAccounts receivableInventoriesCurrent assetsNet fixed assetsTotal assets Enter the givenvalues from the textbook here Accounts payableAccrued expensesShort-term notes payableCurrent liabilitiesLong-term debtOwners’ equityTotal liabilities and owners’ equityJ. P. Robard Mfg., Inc.Income Statement ($000)Net sales (all credit)Cost of goods soldGross profitOperating expenses (includes $500 depreciation)Net operating incomeInterest expenseEarnings before taxesIncome taxes (40%)Net income SolutionCurrent ratioTimes interest earnedInventory turnoverTotal asset turnoverOperating profit marginOperating return on assetsDebt ratioAverage collection periodFixed asset turnoverReturn on equity Current Ratio = Current Assets / CurrentLiabilitiesTimes interest Earned= Net Operating Income/ InterestExpenseInventory Turnover= Cost of goods sold/InventoryTotal Asset turn Over = Net Sales / Total AssetsOperating Profit Margin = Net Operating Income / NetSalesOperating Return on Assets = Net Operating Income / TotalAssetsDebt Ratio = ( Current Liabilities + Long-term debt) / TotalAssetsAverage Collection Period =( Accounts Receivable * 365 ) / Credit SalesFixed Asset Turnover = Net Sales / Net FixedAssetsReturn on Equity = Net Income / Owner’sEquity
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