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CashFlowStatementandFinancialStatementAnalysisLearningObjectives:DevelopanabilitytoprepareastatementofcashflowsusingDirectMethodandDevelo

pskillstoanalyzeprofitabilityandriskDiscussionSection#4FinancialReporting-E202LopoMartinez1OperationActiv

itiesCashFlowfromOperationsCashpaymentsforoperationsCashreceiptsfromoperationsNetincomeAdjustmentsfornon-cashrevenuesandexpensesAdjustmentsfo

rreceivables,inventories,payables,othercurrentassets/liabilitiesCashflowfromoperationsLessPlus/LessPlus/LessEqualsEqualsDirectMethodIndirect

MethodCanbecomputedtwoways:Obtainedfromcashreceiptsjournal.Obtainedfromaccrualsalesinformation.Cashreceivedfromcustomer

sDirectMethodCashReceivedfromCustomers=Sales{-increaseA/R+decreaseA/R{+increaseUn.Rev.-decreaseUn.Rev=Sales-DA/R+DUn.Revenu

eCashreceivedfromcustomersSotocomputeCashReceivedfromCustomers:➢Step1➢Step2Purchases=COGS{+Increaseininvento

ry-DecreaseininventoryCashpaidformerchandise=Purchases{-IncreaseinA/P+DecreaseinA/PDirectMethodCashPa

idforMerchandise=COGS+DINV-DA/PCashpaidformerchandiseSotocomputeCashPaidforMerchandise:Thecashpaidfor

wagesandotheroperatingexpensesisaffectedby(1)whethertheexpensewasaccrued(W/P,RentsPayable),and(2)whethertheexpensewasprepaid(PrepaidWages,Prep

aidRents){{Cashpaidforwagesandotheroperatingexpenses=Wagesandotheroperatingexpenses-Increaseinaccruedliabilities+Decre

aseinaccruedliabilities+Increaseinprepaidexpenses-DecreaseinprepaidexpensesDirectMethodWagesandOperatingExpenses=Wagesandotheroperatingexpen

ses-DW/P+DPr.WagesCashpaidforWagesandOtherOperatingExpenses-DRentPayable-DInsur.Payable+DPr.Rent+DPr.Insur.SotocomputeCas

hPaidtoEmployeesandotherOperatingExpenses:Cashpaidforinterest=InterestExpense+DecreaseinInterestpayable-IncreaseinInteres

tpayable{Cashpaidfortaxes=TaxExpense+Decreaseintaxespayable-IncreaseintaxespayableDirectMethodCashPaidforIntere

standTaxes{=InterestExp.-DInt.PayableCashpaidforinterestCashpaidfortaxesTaxExp.=-DTax.PayableSales-DA/R+DUn.RevenueCashreceivedfromcustomersCOG

S+DINV-DA/PCashpaidformerchandiseWagesandotheroperatingexpenses-DW/P+DPr.WagesCashpaidforWagesandOtherOperatingExpenses-DRentPayable-DInsur.

Payable+DPr.Rent+DPr.Insur.InterestExp.-DInt.PayableCashpaidforinterestCashpaidfortaxesTaxExp.-DTax.PayableCashfromOperations(DirectApproach)

+----Sales-DA/R+DUn.Revenue-COGS-DINV+DA/P-W.AndotherOE+DW/P-DPr.Wages+DRentPayable+DInsur.Payable-DPr.R

ent-DPr.Insur.-InterestExp.+DInt.Payable-TaxExp.+DTax.PayableCashfromOperations(IndirectMethod)NetIncome+Deprec+Amort+Losses-Gains======-DNoncashWork

ingCapital(WK)=DirectandIndirectMethodJAN1DEC31BalanceSheetChangeCash52,000$58,000$Accountsreceivable93,000106,000$13,000Inventories151,000162,00011,

000Land30,00030,000BuildingandEquip.790,000830,00040,000Acc.Depreciation(460,000)(504,000)(44,000)TotalAssets656

,000$682,000$LiabilitiesandOEAccountspayable136,000$141,000$5,000InterestPayable10,0008,000(2,000)MortgagePayable120,000109,000(11,000)C

ommonStocks250,000250,000RetainedEarning140,000174,00034,000TotalLiabilitiesandOE656,000$682,000$DWK=DCurrentAssets-DCurrentLiabilities21,000AssetsHA

LECOMPANYComparativeBalanceSheetsSalesRevenues$1,200,000ExpensesCostofGoodsSold788,000WagesandSalaries280,000Depreciation54,0

00Interest12,000IncomeTaxes22,000Total1,156,000NetIncome$44,000(10,000)AdditiontoRetainedEarnings34,000

RetainedEarnings,Jan.1140,000$174,000DividendsonCommonStockRetainedEarnings,Dec.31HALECOMPANYIncomeStatementandRetainedEarningsFortheCurren

tYearDuringthecurrentyearafirmsoldfor$5,000equipmentcosting$15,000with$10,000ofAcc.Depreciation.Didthefirmpurchaseanyequipm

ent?PurchaseofEquip=End.Equip-(Beg.Equip–SaleofEquip)830,000–(790,000–15,000)=$55,000P-4.27NetIncome$44,000AdditionsD

epreciationExp.54,000IncreaseinA/P5,000SubtractionsIncreaseinA/R(13,000)IncreaseinInv.(11,000)DecreaseinInt.Payable(2,000)CashFl

owfromOperations$77,000SaleofEquipment$5,000AcquisitionofEquip.(55,000)CashFlowfromInvesting(50,000)Dividends(10,000)RetirementofMortg/P(11,0

00)CashFlowfromFinancing(21,000)NetChangeinCash6,000Cash,January152,000Cash,December31$58,000HALECOMPANYS

tatementofCashFlowsOperations:Investing:Financing:FortheCurrentYearBalanceSheetChangeCashAccountsreceivable$13,000Inventories11,000LandBuildingandE

quip.40,000Acc.Depreciation(44,000)TotalAssetsLiabilitiesandOEAccountspayable5,000InterestPayable(2,000)MortgagePayable(11

,000)CommonStocksRetainedEarning34,000TotalLiabilitiesandOEDWK21,000AssetsHALECOMPANYComparativeBalanceSheetsSalesRevenues$1,200,000Expenses

CostofGoodsSold788,000WagesandSalaries280,000Depreciation54,000Interest12,000IncomeTaxes22,000Total1,156,000NetIncome$

44,000(10,000)AdditiontoRetainedEarnings34,000RetainedEarnings,Jan.1140,000$174,000DividendsonCommonStockRetainedEarnings,Dec.31

HALECOMPANYIncomeStatementandRetainedEarningsFortheCurrentYearP-4.27a)Sales-DA/R+DUn.RevenueCashreceivedfromcustomers=1,200,000-(13,000)1,1

87,000COGS+DINV-DA/PCashpaidtoSuppliers=794,000788,000+(11,000)-(5,000)InterestExp.-DInt.PayableCashpaidforinterest=1

4,00012,000-(-2,000)Wagesexpenses-DW/P+DPr.WagesCashpaidforWages=280,000280,000CashpaidfortaxesTaxExp.-DTax.Payable=22,00022,0

00-DWKCashfromOperations=77,000Sales–Expenses[cash]-(21,000)98,000CashfromCustomer$1,187,000CashtoSuppliers(794,000)CashtoEmployees(280

,000)CashforInterests(14,000)CashforTaxes(22,000)CashFlowfromOperations$77,000HALECOMPANYStatementofCashFlowsOperations:FortheCur

rentYearP-4.27b)c)d)10ProfitabilityRatiosRateofreturnonassetsLevel1RateofreturntocreditorsandpreferredshareholdersRateofr

eturnoncommonshareholders’equityProfitmarginforROALevel2Totalassetsturnoverratio=+LeverageratioTotalassetsturnoverratioProfi

tmarginforROCEVariousexpense-to-salespercentagesLevel3A.R.turnover,inv.turnover,plantassetturnoverA.R.turnove

r,inv.turnover,plantassetturnoverVariousexpense-to-salespercentagesReturnonAssets(ROA)•ROApresentsprofitabilityinde

pendentofthesourceoffinancing–Doesnotconsiderleverage–Measureofhowwellthefirmusesitsassetstogenerateincome•Disaggr

egatingROA--ROAcanbedefinedastheproductoftwootherratios1.Profitmarginratio,and2.TotalassetsturnoverAccountsReceivableTurnoverInventoryTurnov

erFixedAssetTurnoverTurnoverRatiosReturnonCommonEquityROCEcanbedisaggregatedintothreerelatedratios1.Profitmarginratiof

orROCE2.Totalassetsturnover3.LeverageratioLeverageratioindicatestherelativeproportionofcapitalprovidedbycomm

onshareholdersasdistinctfromthatprovidedbycreditors(debtors)orpreferredshareholders.EarningsPerShareEPSdoesnotconsidertheamountofassets

orcapitalrequiredtogenerateearnings.MeasuresofShort-TermRisk•Currentratio:currentratio=(currentassets)/(currentliabiliti

es)•Quickratio:(currenthighlyliquidassets)/(currentliabilities)•Cashflowfromoperationstocurrentliabi

litiesratio:(cashflowfromoperations)/(currentliabilities)MeasuresofLong-TermRisk•Debt-to-equityratio:(totalliabilit

ies)/(totalequities)totalequities=totalliab.+shareholders’equity•Cashfromoperationstototalliabilitiesrat

io:–Measurestheabilityofthefirmtopayallliabilitiesfromcashwithoutnewdebtoradditionalinvestment.•Interestcoverageratio=(interestbefo

reinterestandincometax)(interestexpense)