Question

PT LARIS MANIS Balance Sheet (in Millions) 31 December 2015 & 2016 ASSETS 2016 2015 Current...

PT LARIS MANIS

Balance Sheet (in Millions)

31 December 2015 & 2016

ASSETS 2016 2015

Current Assets:

Cash and equivalents $ 3,641 $ 4,910

Short-term Investments 273 525

Accounts Receivable (net) 2,269 2,424

Inventories 278 400

Other 1,419 1,467

Total Current Assets $ 7,877 $ 9,726

Non-Current Assets:

Total non-current assets $ 5,658 $ 3,499

Total Assets $13,535 $13,670

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Accounts Payable $ 5,075 $ 4,286

Accrued Liabilities 1,600 1,550

Unearned Revenues 444 192

Notes Payable – Current 300 450

Other 100 300

Total Current Liabilities $ 7,519 $ 6,778

Non-Current Liabilities:

Total Non-Current Liabilities $ 1,322 $ 1,270

Total Liabilities $ 8,841 $ 8,048

Stockholders’ Equity:

Common Stock Issued and Outstanding $ 5,605 $ 4,795

Treasury Stock (2,249) ---

Retained Earnings 1,364 839

Other Comprehensive Income (26) (12)

Total Stockholders’ Equity $ 4,694 $ 5,622

Total Liabilities & Stockholders’ Equity

$13,535 $13,670

PT LARIS MANIS

Income Statement (in Millions**)

31 December 2015 and 2016

2016 2015

Net Revenue/Penjualan Bersih $31,168 $31,888

Less: Cost of Goods Sold 25,661 25,445

Gross Profit $ 5,507 $ 6,433

Operating Expenses

Selling, General and Administrative $ 1,900 $ 2,400

Lease Expenses 884 793

Research, Development and Engineering 452 482

Special charges 482 105

Total operating expenses $ 3,718 $ 3,780

Operating Income $ 1,789 $ 2,663

Investment and other income (loss) (58) 581

Income before taxes $ 1,731 $ 3,194

Provision for income taxes (485) (958)

Net Income

$ 1,246 $ 2,236

Earnings Per Common Share (EPS)/Laba bersih per saham:

Basic EPS /Saham Dasar $ 0.48 $ 0.87

Weighted Average Shares Outstanding/Rata-rata jumlah saham Beredar:

Basic /Saham Dasar 2,602 2,582

Market Price Per Share/harga pasar Saham $35.00 $60.00

Per lembar

** All items in millions of dollars except Earnings per Share data

You are asked to do an Altman Z Score Bankruptcy analysis linked to PT Laris Manis companies in 2015 and 2016

Business   Accounting   
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Homework Answers

Answer #1

Note : INCOME STATEMENT : There is difference of $ 50 while calculating Income before Taxes for 2015

BALANCE SHEET : The value of Total Assets doesn't match. Difference of $ 445

Total Current Assets+ Total Non current Assets= $9726+$3499= $ 13225

Total of Assets given = $13670

Answers made As p[er Given Data

Z-Score = 1.2A + 1.4B + 3.3C + 0.6D + 1.0E

Where:

A = working capital / total assets

B = Retained Earnings Total Assets

C = Earnings before Interest and Tax Total Assets

D = Market Value of Equity / Total Liabilities

E = Sales / Total Assets

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