SOAL UJIAN TENGAH SEMESTER-ANALISIS LAPORAN KEUANGAN

Open book-120 Menit

Petunjuk:
1. Kerjakan pada File MS-Word
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4. Setelah selesai jawaban dikirim ke pujiharto@lecturer.undip.ac.id
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6. nama file: ALK(A/B/IUP)-Nama Depan-NIM(3 digit terakhir) Contoh: ALKB-RIMA-085

Soal 1
Let’s examine three companies within the Personal Computer Systems industry. Using information in the
table, please answer the following questions. Stock symbols are shown in parentheses.
Personal Computer Systems Industry Apple DELL Hewlett

Average (AAPL) Computer Packard

(DELL) (HPQ)

Asset Turnover (Asset TO) 1.00 0.87 1.60 1.03

Return on Assets (ROA) 24.2% 25.75% 9.07% 7.84%

Gross Profit Margin (GPM) 37.3% 39.30% 18.84% 22.3%

Net Profit Margin (NPM) 12.1% 29.54% 5.67% 7.61%

1. Which company has the greatest markup on products sold? (AAPL / DELL / HPQ)
Which ratio reveals this information? (NPM / Asset TO / ROA / GPM) Explain!
Note: choose the right answer in the bracket
2. Which company appears to sell at a low markup to generate a greater volume of sales? (AAPL / DELL
/ HPQ) Which two ratios reveal this information? (NPM / Asset TO / ROA / GPM) Explain!

3. According to the most comprehensive measure of profitability, which company is the most profitable?
(AAPL / DELL / HPQ)
Which ratio reveals this information? (NPM / Asset TO / ROA / GPM) Explain!

4. Which company has the lowest product costs compared to sales revenue? (AAPL / DELL / HPQ)
Which ratio reveals this information? (NPM / Asset TO / ROA / GPM) Explain!
5. Which company has the strongest profitability? (AAPL / DELL / HPQ) Why?

6. Which company has the weakest profitability? (AAPL / DELL / HPQ) Why?

7. Make review of industry analysis using industry average as a benchmark, comment on comparison of
the company’s performance
Soal 2
Following is the information about Burger King Balance Sheet for last 4 years
BURGER KING BALANCE SHEET ($ in millions)

2020 2019 2018 2017

ASSETS

Cash and cash equivalents $ 1,426 $ 353 $ 216 $ 789

Accounts receivable 256 239 229 225

Inventories 189 122 143 128

Other current assets 442 494 363 339

Fixed Assets 7,103 7,247 6,897 7,132

Accumulated depreciation (3,273) (3,348) (3,187) (3,283)

Fixed Assets, net 3,830 3,899 3,710 3,849

Goodwill and other intangibles 1,134 1,102 940 1,026

Long-term investments 154 144 65 153

Other noncurrent assets 885 795 861 679

TOTAL ASSETS $8,316 $7,148 $6,527 $7,188

LIABILITIES

Accounts payable $ 540 $ 499 $ 508 $ 519

Short-term debt 673 59 25 288

Other current liabilities 1,235 1,095 1,189 1,255

Long-term debt 2,915 3,207 3,564 2,924

Other noncurrent liabilities 1,377 1,263 1,349 1,063

STOCKHOLDERS’ EQUITY

Contributed capital (CC) 86 253 7 0

Retained earnings (RE) 1,717 996 303 1,119

Other stockholders’ equity (SE) (227) (224) (418) 20

TOTAL LIABILITIES & STOCKHOLDERS $8,316 $7,148 $6,527 $7,188

EQUITY
1. Total Assets increased by $________ million since 2017, an increase of ________%, which is the
result of (purchasing additional assets / issuing more common stock / increasing net income). This
company has a major investment in (inventories / Fixed Assets/ goodwill), which (is / is not)
expected.
Note: complete the number, choose one object in the bracket

2. On 2017, the retained earnings account reports a (positive / negative) amount, which is most likely
the result of previously (selling assets / purchasing treasury stock / reporting net income).

3. This company distributed dividends and other amounts to shareholders of $322 million in 2018, $362
million in 2019, and $412 million in 2020. Use this information to compute net income for: 2020
$__________ million; 2019 $__________ million; 2018 $__________ million

4. For 2019 and 2020 complete the classified balance sheet by adding the items within each
classification. Record your results in the area provided on the previous page. Classified balance
sheets for 2017 and 2018 have already been completed. (Remember CA + FA, net + Goodwill + Other =
Total Assets and CL + NCL + CS + RE + Other = Total L + SE)

5. For 2019 and 2020 complete the common-size statements by dividing each item on the classified
balance sheet by the amount otf total assets for the same year. Record your results in the area
provided on the previous page. Common-size statements for 2017 and 2018 have already been
completed. Comment on the trends in Total Liabilities and Total Stockholders’ Equity and what this
indicates.
BURGER KING –CLASSIFIED BALANCE SHEET ($ in millions)- COMMON SIZE STATEMENT

2020 2019 2018 2017

$ CS% $ CS% $ CS% $ CS%

Current Assets 951 14.6% 1,481 20.6%

Fixed Assets, Net 3,710 56.8% 3,849 53.5%

Goodwill & Other 940 14.4% 1,026 14.3%

Intangibles

Long-term Investments 65 1% 153 2.1%

Other Assets 861 13.2% 679 9.4%

TOTAL ASSETS 6,527 100.0% 7,188 100.0%

Current Liabilities 1,722 26.4% 2,062 28.7%

Non-Current Liabilities 4,913 75.3% 3,987 55.5%

TOTAL LIABILITIES 6,635 101.7 6,049 84.2%

%

Contributed capital (CC) 7 0.0% 0 0.0%

 Retained earnings (RE) 303 4.7% 1,119 15.5%

Other stockholders’ (418) (6.4)% 20 0.3%

equity (SE)

TOTAL STOCKHOLDER (108) (1.7)% 1,139 15.8%

EQUITY

Note: Question No. 4 and 5 refer to this table

6. For 2019 and 2020 compute the current ratio and the debt ratio. Record your results in the area
provided below. Ratios for 2017 and 2018 have already been computed. Comment on the results.
BURGER KING - Ratios

Industry 2020 2019 2018 2017

average

Current ratio 1.10 0.55 0.72

Debt to Asset 52% 102% 84%

ratio

7. If you had $10,000, would you consider investing in this company? (Yes / No) Why?
Support your response with at least three good reasons.