Nama

: Theresia Tenera P
NIM / Angkt : 01012681418029 / 38
Mata Kuliah : Manajemen Modal Kerja
Magister Manajemen

Wallace Products, Inc. Balance Sheet (000s)

1986
1985
Cash
$
2.800 $
2.700
Accounts Receivable
$
5.700 $
4.200
Inventories
$
10.220 $
7.500
Total Current Assets
$
18.720 $
14.400
Plant And Equipment (at cost)
$
61.100 $
55.500
Less Accumulated Depreciation
$
(29.400) $
(25.800)
Total Assets
$
50.420 $
44.100
Quick Assets
$
8.500 $
6.900

$
$
$
$
$
$
$
$

1984
9.900
3.900
6.600
20.400
45.000
(22.800)
42.600
13.800

Accounts Payable
Notes Payable - Bank
Other Current Liabilities
Total Current Liabilities
Mortgage (8,5%)
Common Stock
Retained Earnings
Total Equity
Total Liabilites And Equity

$
$
$
$
$
$
$
$
$

1.800
600
1.400
3.800
11.700
22.100
5.000
38.800
42.600

$
$
$
$
$
$
$
$
$

1984
37.800
30.300
7.500
3.600
3.900
1.000
2.900
800
2.100

$
$
$
$
$
$
$
$
$

2.400
1.400
1.900
5.700
11.400
26.120
7.200
44.720
50.420

$
$
$
$
$
$
$
$
$

1.900
900
1.600
4.400
11.600
22.000
6.100
39.700
44.100

Wallace Products, Inc. Income Statement (000s)

1986
1985
Net Sales
$
48.600 $
42.300
Cost Of Goods Sold
$
37.800 $
33.300
Gross Margin
$
10.800 $
9.000
General and Adm. Expenses
$
4.200 $
3.900
EBIT
$
6.600 $
5.100
Interest Expenses
$
1.400 $
1.100
EBT
$
5.200 $
4.000
Federal Incomes Taxes
$
1.500 $
1.200
Net Income After Taxes
$
3.700 $
2.800
Revenue
NWC

Comparative Ratios
Ratio Data
Cash Adequacy
Cash/Current Liabilities
Cash/Total Assets

$
$

3.700 $
13.020 $

2.800 $
10.000 $

2.100
16.600

1.986 $

1.985 $

1.984

0,49122807 0,613636364
0,055533518 0,06122449

2,605263158
0,232394366

Cash/Revenues

0,756756757 0,964285714

4,714285714

Current Asset Adequacy

Current Assets/Current Liabilities
Current Assets/Total Assets
Current Assets/Revenues

8,845614035 10,02272727
0,371281238 0,326530612
13,62702703
15,75

11,21052632
0,478873239
20,28571429

Quick Asset Adequacy

Quick Asset/Current Liabilities
Quick Asset/Total Assets
Quick Asset/Revenues

1,49122807 1,568181818
0,168583895 0,156462585
2,297297297 2,464285714

3,631578947
0,323943662
6,571428571

Flows From Inventory

Revenues/Inventory
Cofgs/Inventory

0,362035225 0,373333333
3,698630137
4,44

0,318181818
4,590909091

Flows From Receivable

Revenues/Inventory
Average Collection Period

0,362035225 0,373333333
42,80864198 36,24113475

0,318181818
37,65873016

Current Liabiabilities Exposure

Total Asset/Current Liabilities
Total Equity/Current Liabilities
Funds Flow/Current Liabilities
Cofgs/Account Payable

8,845614035
7,845614035
0,00012703
15,75

10,02272727
9,022727273
0,000169697
17,52631579

11,21052632
10,21052632
0,000167464
16,83333333

Overall Adequacy Of Net Working Capital

Total Assets/Net Working Capital
Current Liabilities/Net Working Capital
Revenues/Net Working Capital

3,87250384
0,437788018
0,284178187

4,41
0,44
0,28

2,56626506
0,228915663
0,126506024

Rekomendasi

Memperhatikan laporan keuangan dan

perhitungan rasio dari Wallace Products,
diketahui bahwa secara umum kondisi
keuangan perusahaan berada pada kondisi
yang baik dan layak untuk diberikan
fasilitas kredit. Hal ini tercermin dari
kemampuan
perusahaan
dalam
menghasilkan laba setiap tahunnya. Selain
itu, perusahaan juga dapat menekan harga
pokok penjualan melalui penghematan
pada beban administrasi umum. Namun,
harus dicermati juga bahwa perusahaan
memiliki
kecenderungan
penurunan
Current Rasio yang merepresentasikan
likuiditas perusahaan. Rasio CR perusahaan
mengalami penurunan secara signifikan
pada tahun ke tahun dimana peningkatan
Hutang Lancar perusahaan tidak disertai
dengan
peningkatan
pada
Aktiva
Lancarnya.

Lopez and Lpoez, Inc. Balance Sheet (000s)

1988
Cash
$
4.000 $
Short-Term Investments
$
4.000 $
Accounts Receivable
$
13.300 $
Inventories
$
20.200 $
Total Current assets
$
41.500 $
Quick Assets
$
21.300 $

1987
2.000
5.000
7.500
10.000
24.500
14.500

Plant Equipment
(less acumulated depreciation)
Properties, nondepreciable
Total Fixed Assets
Total Assets

$
$
$
$

53.000
27.400
80.400
121.900

$
$
$
$

33.000
40.500
73.500
98.000

Accounts Payable
Notes Payable
Accrued Liabilities
Total Current Liabilities

$
$
$
$

32.000
34.000
10.000
76.000

$
$
$
$

18.000
24.000
7.000
49.000

Economic Development Grant

$
Small Business Administration Loan
$
Mexican Opportunity Notes
$
Total Long Term Liabilities
$

16.000
9.500
25.500

$
$
$
$

14.000
6.000
11.000
31.000

$
$
$
$
$

7.000
4.000
7.000
18.000
98.000

Common Stock ($1 par)

Capital To Excess Of Par
Retained Earnings
Total Equity
Total Liabilities and Equity

$
$
$
$
$

7.000
4.000
9.400
20.400
121.900

NWC

(34.500) $

Lopez and Lpoez, Inc. Income Statement (000s)

1988
Sales
$
89.800 $
Income From Investments
$
200 $
Total Revenues
$
90.000 $
Begining Inventory
Total Manufacturing Costs
Less Ending Inventory
Cost Of Goods Sold
Gross Profit
General And Adm. Expenses
Operating Income
Interest Expenses
Earnings Before Taxes
Federal Income Taxes
Net Income After Taxes

$
$
$
$
$
$
$
$
$
$
$

13.000
72.000
(26.200)
58.800
31.200
9.500
21.700
7.400
14.300
5.500
8.800

$
$
$
$
$
$
$
$
$
$
$

(24.500)

1987
87.800
200
88.000
14.000
65.000
(23.000)
56.000
32.000
8.000
24.000
6.500
17.500
6.600
10.900

Dividend Declared And Paid

5.000

Comparative Ratios
Ratio Data
Cash Adequacy
Cash/Current Liabilities
Cash/Total Assets
Cash/Revenues

1988

1987

0,052631579
0,032813782
0,044444444

0,040816327
0,020408163
0,022727273

Current Asset Adequacy

Current Assets/Current Liabilities
Current Assets/Total Assets
Current Assets/Revenues

0,546052632
0,340442986
0,461111111

0,5
0,25
0,278409091

Quick Asset Adequacy

Quick Asset/Current Liabilities
Quick Asset/Total Assets
Quick Asset/Revenues

0,280263158
0,513253012
0,236666667

0,295918367
0,591836735
0,164772727

Flows From Inventory

Revenues/Inventory
Cofgs/Inventory

4,455445545
2,910891089

8,8
5,6

Flows From Receivable

Revenues/Inventory
Average Collection Period

6,766917293
54,06 $

11,73333333
31,18

1,603947368
0,268421053
0,0001477 $
1,8375

2
0,367346939
0,0004190
3,111111111

Current Liabiabilities Exposure

Total Asset/Current Liabilities
Total Equity/Current Liabilities
Funds Flow/Current Liabilities
Cofgs/Account Payable

Overall Adequacy Of Net Working Capital

Total Assets/Net Working Capital
-3,533333333
Current Liabilities/Net Working Capital-2,202898551
Revenues/Net Working Capital
-2,608695652

-4
-2
-3,591836735