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Other Financial Statement Information
See Table 2.5 showing financial statement data and stock price data for Mydeco Corp.
a. What were Mydeco’s retained earnings each year?
b. Using the data from 2009, what was Mydeco’s total stockholders’ equity in 2008?
Table 2.5
|
Mydeco Corp. 2009–2013 |
(All data as of fiscal year end; in $ million) |
||||
|
Income Statement |
2009 |
2010 |
2011 |
2012 |
2013 |
|
Revenue |
404.3 |
363.8 |
424.6 |
510.7 |
604.1 |
|
Cost of Goods Sold |
(188.3) |
(173.8) |
(206.2) |
(246.8) |
(293.4) |
|
Gross Profit |
216.0 |
190.0 |
218.4 |
263.9 |
310.7 |
|
Sales and Marketing |
(66.7) |
(66.4) |
(82.8) |
(102.1) |
(120.8) |
|
Administration |
(60.6) |
(59.1) |
(59.4) |
(66.4) |
(78.5) |
|
Depreciation & Amortization |
(27.3) |
(27.0) |
(34.3) |
(38.4) |
(38.6) |
|
EBIT |
61.4 |
37.5 |
41.9 |
57.0 |
72.8 |
|
Interest Income (Expense) |
(33.7) |
(32.9) |
(32.2) |
(37.4) |
(39.4) |
|
Pretax Income |
27.7 |
4.6 |
9.7 |
19.6 |
33.4 |
|
Income Tax |
(9.7) |
(1.6) |
(3.4) |
(6.9) |
(11.7) |
|
Net Income |
18.0 |
3.0 |
6.3 |
12.7 |
21.7 |
|
Shares outstanding (millions) |
55.0 |
55.0 |
55.0 |
55.0 |
55.0 |
|
Earnings per share |
$0.33 |
$0.05 |
$0.11 |
$0.23 |
$0.39 |
|
Balance Sheet |
2009 |
2010 |
2011 |
2012 |
2013 |
|
Assets |
 |  |  |  |  |
|
Cash |
48.8 |
68.9 |
86.3 |
77.5 |
85 |
|
Accounts Receivable |
88.6 |
69.8 |
69.8 |
76.9 |
86.1 |
|
Inventory |
33.7 |
30.9 |
28.4 |
31.7 |
35.3 |
|
Total Current Assets |
171.1 |
169.6 |
184.5 |
186.1 |
206.4 |
|
Net Property, Plant & Equip. |
245.3 |
243.3 |
309 |
345.6 |
347 |
|
Goodwill & Intangibles |
361.7 |
361.7 |
361.7 |
361.7 |
361.7 |
|
Total Assets |
778.1 |
774.6 |
855.2 |
893.4 |
915.1 |
|
Liabilities & Stockholders’ Equity |
 |  |  |  |  |
|
Accounts Payable |
18.7 |
17.9 |
22 |
26.8 |
31.7 |
|
Accrued Compensation |
6.7 |
6.4 |
7 |
8.1 |
9.7 |
|
Total Current Liabilities |
25.4 |
24.3 |
29 |
34.9 |
41.4 |
|
Long-term Debt |
500 |
500 |
575 |
600 |
600 |
|
Total Liabilities |
525.4 |
524.3 |
604 |
634.9 |
641.4 |
|
Stockholders’ Equity |
252.7 |
250.3 |
251.2 |
258.5 |
273.7 |
|
Total Liabilities & Stockholders’ Equity |
778.1 |
774.6 |
855.2 |
893.4 |
915.1 |
|
Statement of Cash Flows |
2009 |
2010 |
2011 |
2012 |
2013 |
|
Net Income |
18 |
3 |
6.3 |
12.7 |
21.7 |
|
Depreciation & Amortization |
27.3 |
27 |
34.3 |
38.4 |
38.6 |
|
Chg. in Accounts Receivable |
3.9 |
18.8 |
0 |
-7.1 |
-9.2 |
|
Chg. in Inventory |
-2.9 |
2.8 |
2.5 |
-3.3 |
-3.6 |
|
Chg. in Payables & Accrued Comp. |
2.2 |
-1.1 |
4.7 |
5.9 |
6.5 |
|
Cash from Operations |
48.5 |
50.5 |
47.8 |
46.6 |
54 |
|
Capital Expenditures |
(25.0) |
(25.0) |
(100.0) |
(75.0) |
(40.0) |
|
Cash from Investing Activities |
(25.0) |
(25.0) |
(100.0) |
(75.0) |
(40.0) |
|
Dividends Paid |
(5.4) |
(5.4) |
(5.4) |
(5.4) |
(6.5) |
|
Sale (or purchase) of stock |
- |
- |
- |
- |
- |
|
Debt Issuance (Pay Down) |
- |
- |
75.0 |
25.0 |
- |
|
Cash from Financing Activities |
(5.4) |
(5.4) |
69.6 |
19.6 |
(6.5) |
|
Change in Cash |
18.1 |
20.1 |
17.4 |
(8.8) |
7.5 |
|
Mydeco Stock Price |
$7.92 |
$3.30 |
$5.25 |
$8.71 |
$10.89 |
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