Halaman 57 Khotari 2
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TUGAS I MANAJEMEN PEMASARAN DAN PASAR MODAL Chapter 3
F i na nanci ncia al S Sttatement ntss A Ana nalysi lysiss a and nd F i na nanci ncia al M Mo odels
Dosen Pengampuh : Prof. Dr. Tafdil Husni Dr. Fajri Adrianto, SE., M.Bus (Adv). Dr. Ridha Rahim, Se., M.Si.
KORI NOFIANTI 1820532031
MAGISTER AKUNTANSI FAKULTAS EKONOMI UNIVERSITAS ANDALASA 2019
1. Dupont Identity If Krabi, Inc., has an equity multiplier of 1.55, total asset turnover of 1.75, and a profit margin of 4.3 percent, what is its ROE ? Diketahui : Equity Multiplier (EM) Total Asset Turnover (TATO)
Profit Margin (PM) Ditanya : Return on Equity (ROE) ? Jawab : ROE = EM x TATO x PM = 1,55 x 1,75 x 0,043 = 11,7 %
: 1,55 : 1,75 : 4.3 % : 0,043
2. Equity Multiplier and Return on Equity Lima Bintang Bhd has a debt-equity ratio of 80. Return on assets is 9.7 percent, and total equity is $ 735,000. What is the equty multiplier ? Return on equity ? Net income ? Diketahui : Debt-Equity Ratio (DER)
: 0,80
Return on Assets (ROA)
: 9,7 % : 0,097
Total Equity
: $735.000
Ditanya :
a) Equity Multiplier (EM), b) Return on Equity (ROE) c) Net Income (NI) Dijawab : EM = 1 + DER = 1 + 0,80 = 1,80
DER =
Total Debt
Total Equity
Total Debt
= Total Equity x DER = 735,000 x 0,80 = 588.000
ROE
= ROA ( 1 + DER ) = 0,097 ( 1+ 0,80 ) = 0,1746 = 17,46 %
ROE =
Net Income = Total Equity x ROE = 735.000 x 0,1746 = $ 128.331 11. Return on Equity Firm A and Firm B have debt-total asset ratios of 35 percent and 55 percent and returns on total assets of 9 percent and 7 percent, respectively. Which firm has a greater return on equity ? Diketahui :
Perusahaan A memiliki DAR = 0,35 = 35% dan ROA = 0,09 = 9% Perusahaan B memiliki DAR = 0,55 = 55% dan ROA = 0,07 = 7% Ditanya : Perusahaan mana yang memiliki ROE yang lebih baik ? Dijawab : DAR = 0,35 = 0,35 = 0,35 =
A Total Debt
Total Assets Total Debt Total Assets
DAR =
0,55 =
Total Assets - Total Equity Total Assets Total Assets
-
Total Assets
Total Equity Total Assets
Total Equity Total Assets
0,09 =
Net Income
Total Assets
ROA=
0,07 =
Net Income = 0,09 x Total Total Assets ROE= ROE=
Net Income Total Equity
0,09 x Total Assets 0,65 x Total Assets
ROE = 0,1385 = 13,85%
Total Debt Total Assets
Total Assets - Total Equity Total Assets Total Assets
-
Total Assets
Total Assets
Total Assets
Net Income Total Assets Net Income Total Assets
Net Income = 0,07 x Total Total Assets ROE=
Total Equity
ROE=
Net Income Total Equity
Total Equity
Total Equity = 0,45 x Total Assets
Total Assets Net Income
0,55 =
0,45 =
Total Equity = 0,65 x Total Assets ROA=
0,55 =
Total Assets
0,55 = 1 - Total Equity Total Assets
0,35 = 1 - Total Equity Total Assets 0,65 =
B Total Debt
0,07 x Total Assets 0,45 x Total Assets
ROE = 0,1556 = 15,56 %
Dari hasil perhitungan diatas, maka dapat kita ambil kesimpulan bahwa perusahaan B lebih baik tingkat ROEnya dibandingnya perusahaan A, masingmasing nilai B dan A yaitu : 15, 56 5 dan 13,85 %. 14. Days Sales in Receivables A company has net income of $ 265,000, a profit margin of 9.3 percent, and
an account receivable balance of $ 145,300. Assuming 80 pecent of sales are on credit, what is the c ompany day’s sales in receivables ? Diketahui : Net Income (NI)
: $ 265,000
Profit Margin (PM)
: 9.3 %
Account Receivable (AR)
: $ 145,300
Ditanya : what is the company day’s sales in receivables ? Dijawab : NI =
Sales Net Income PM 265.000 = 2.849 2.849.4 .462 62 = 0.093
=
Assuming 80 pecent of sales are on credit
= 80 % x 2.849.462 2.849.462 = 2.279.569
Receivable Turn Over
=
Day’s sales in receivables
= 365/16 = 23
=
.. .
= 16
Jadi Receivable Turn Over : 16 kali disetiap 23 hari. 15. Ratios and Fixed Assets The Dim Sum Company has a ratio of long term debt to total assets of 35 and current ratio of 1.25. Current liabilities are $ 950, sales are $ 5,780, Profit margin is 9.4 percent, and ROE is 18.2 percent. What is the amount of the firm’s net fixed assets ? Dijawab : Current Ratio = Current Asset : Current Liabilities Current Asset = Current Liabilities x Current Ratio = 950 x 1,25 = 1.187,5
NPM Net Income
ROE Total Equity
Total Asset
Fixed asset
= Net Income : Sales = Sales x NPM = 5.780 x 0,094 = 543,32 = Net Income : Total Equity = Net Income : ROE = 543,32 : 0,182 = 2.985,3 = Net Income : ROE = 5.780 : 0,182 = 31.758 = Total Aset – Current Current Asset = 31.758 – 1.187,5 1.187,5 = 30.570,5
16. Calculating Calculati ng the Cash Coverage Ratio Songkhla Inc.’s net income for the most recent year was $ 8,320. The tax rate was 34 percent. The firm paid $ 1,940 in total interest expense and deducted $ 2,730 in depreciation expense. What was Songkhla’s cash coverage ratio for the year ? Sales 15.818 COGS 0 depreciation expense 2,730 EBIT 13.088 Interest Paid 1,940 Taxable Income 11.148 Tax, 34% 2.828 NI 8.320
13.088 13.0 88 + 2,730 2,730
( EBIT + depreciation) depreciation) Cash Cas h Cover Coverage age =
Interest
=
1,940
= 8,1
17. DuPunt Identity The DuPont identity presented in the chapter in commonly referred to as the three-factor DuPont identity. Another common way that the DuPont identity is expressed is the five-factor model, which is :
Net Income ROE =
EBT
EBT
EBIT
Sales
x EBIT x Sales x Total Assets x
Total Asset Equity
Derive the live-factor DuPont identity (EBT is earnings before tax, but after interest). What does each term measure ?
Rumus ROE terbagi menjadi 5 komponen, yang dpat dijelakan sebagai berikut : a) Untuk perhitugan tax burden b) Untuk interst burden c) Profit margin
d) Total Asset Turn Over e) Equity Multiplier
18. Common- Size and Common- Base Year Financial Financi al Statements
Common Size 2012
Common Size 2013
Assets Current Assets Cash Accounts Receivable Inventory Total Fixed Assets Net Plant and Equipment Total Assets Liabilities and Owners' Equity Current Liabilities Accounts Payble Note Payble Total Long-term debt Owners' Equity Common Comm on Stock and paid-in surplus Retained earnings Total Total Liabilities and Owners' Equity
2.86% 7.29% 13.12% 23.26%
3.13% 7.21% 13.14% 23.48%
76.74%
76.52%
100%
100%
14.57%
14.43%
6.22% 20.79% 8.55%
5.36% 19.78% 9.75%
13.54% 57.11% 70.65% 100%
12.33% 58.14% 70.47% 100%
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