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Compute the ratios below for Blue Bill Corporation based on the financial statements provided. Ending inventory was $1,237.6 for year 2010.
After calculating the various ratios, analyze the overall financial health of Blue Bill Corporation.
Values presented on the financial statements are in millions.
Blue Bill Corporation Blue Bill Corporation
Balance Sheet Income Statement
December 31, 2011 2011
Assets Liabilities and Shareholders’ Equity Sales  $10,495.0
Current Assets Current liabilities Cost of products sold  6,700.5
Cash and cash equivalents  $483.2 Short-term debt  $43.4 Gross Profit  3,794.5
Receivables (net of allowance)  1,045.1 Long-term debt due within a year  151.6 Selling and administrative expense  2,350.9
Inventories  1,249.4 Accounts payable  1,007.7 Operating income  1,443.6
Other current assets  273.5 Other accrued liabilities  972.7 Other income  (18.3)
Total current assets  3,051.2 Total current liabilities  2,175.4 Earnings before interest and taxes  1,425.3
Property, plan and equipment Interest expense  295.2
Land  77.1 Long-term liabilities Taxes  247.8
Buildings  842.4 Long-term debt  4,559.4 Net income  $882.3
Equipment  3,546.0 Deferred taxes  665.3
Less accumulated depreciation  2,373.7 Other long-term liabilities  784.2
Total property, plant and equipment  2,091.8 Total long-term liabilities  6,008.9
Other noncurrent assets  4,932.6 Shareholders’ equity  1,891.3
Total assets  $10,075.6 Total liabilities and shareholders’ equity  $10,075.6
Ratio analysis
Liquidity ratios:
Current ratio
Quick ratio
Activity ratios:
Inventory turnover
Receivables turnover
Days sales outstanding
Fixed asset turnover
Total asset turnover
Profitability ratios:
Gross profit margin
Operating profit margin
Net profit margin
Return on assets
Return on equity
Leverage ratios:
Debt / Net worth
Debt ratio
Coverage ratios:
Times-interest-earned
Analysis of Blue Bill Corporation’s financial health

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finance

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Compute the ratios below for Blue Bill Corporation based on the financial statements provided. Ending inventory was $1,237.6 for year 2010.
After calculating the various ratios, analyze the overall financial health of Blue Bill Corporation.
Values presented on the financial statements are in millions.
Blue Bill Corporation Blue Bill Corporation
Balance Sheet Income Statement
December 31, 2011 2011
Assets Liabilities and Shareholders’ Equity Sales  $10,495.0
Current Assets Current liabilities Cost of products sold  6,700.5
Cash and cash equivalents  $483.2 Short-term debt  $43.4 Gross Profit  3,794.5
Receivables (net of allowance)  1,045.1 Long-term debt due within a year  151.6 Selling and administrative expense  2,350.9
Inventories  1,249.4 Accounts payable  1,007.7 Operating income  1,443.6
Other current assets  273.5 Other accrued liabilities  972.7 Other income  (18.3)
Total current assets  3,051.2 Total current liabilities  2,175.4 Earnings before interest and taxes  1,425.3
Property, plan and equipment Interest expense  295.2
Land  77.1 Long-term liabilities Taxes  247.8
Buildings  842.4 Long-term debt  4,559.4 Net income  $882.3
Equipment  3,546.0 Deferred taxes  665.3
Less accumulated depreciation  2,373.7 Other long-term liabilities  784.2
Total property, plant and equipment  2,091.8 Total long-term liabilities  6,008.9
Other noncurrent assets  4,932.6 Shareholders’ equity  1,891.3
Total assets  $10,075.6 Total liabilities and shareholders’ equity  $10,075.6
Ratio analysis
Liquidity ratios:
Current ratio
Quick ratio
Activity ratios:
Inventory turnover
Receivables turnover
Days sales outstanding
Fixed asset turnover
Total asset turnover
Profitability ratios:
Gross profit margin
Operating profit margin
Net profit margin
Return on assets
Return on equity
Leverage ratios:
Debt / Net worth
Debt ratio
Coverage ratios:
Times-interest-earned
Analysis of Blue Bill Corporation’s financial health

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Which of the following statements is CORRECT?

Answer

//

a. A firm’s business risk is determined solely by the financial characteristics of its industry.
b. The amount of debt in its capital structure can under no circumstances affect a company’s EBIT and business risk.
c. One of the benefits to a firm of b…


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1. Mrs. Smith and her husband, George, are planning their retirement and their dream house on the lake.  The lot for the house sits high on a bluff with a beautiful view of the Chesapeake Bay.  The plans for the house show the size of the house to be 3,900 square feet.  The average price for a lot and house similar to this one has been $175 per square foot.  Fortunately, George is retiring from 20 years as an electrician and feels he can save money by installing the electric himself.  Mrs. Smith feels she can take care of the interior decorating.

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The following average cost information is available from a local bank that makes loans to local contractors and disperses progress payments to contractors when specific tasks are verified as complete.

 

24 %

 Excavation and framing complete

8 %

 Roof and fireplace complete

3 %

 Wiring roughed in

6 %

 Plumbing roughed in

5 %

 Siding on

17 %

 Windows, insulation, walks, plaster, and garage complete

9 %

 Furnace installed

4 %

 Plumbing fixtures installed

10 %

 Exterior paint and finish hardware installed

6 %

 Carpet and trim installed

4 %

 Interior decorating

4 %

 Floors laid and finished

 

a.   What is the estimated cost for the Smith’s house if they use contractors to complete all of the house?

 

b.   Estimate what the cost of the house would be if the Smith’s use their talents to do some of the work themselves.

 

2. System Project. Using the “complexity weighting” scheme shown in Table 1 and the function point complexity weighted table (Table 2) shown below, estimate the total function point count. Assume historical data suggest five function points equal on person month and six people can work on the project.

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Complexity Weight Table
Number of inputs 20 Rated complexity average
Number of outputs 10 Rated complexity low
Number of inquiries 10 Rated complexity low
Number of files 40 Rated complexity high
Number of interfaces 30 Rated complexity high

Table 1 – Complexity Weighting Table

The total function point count is:

 

Complexity Weighting
Element

Count

Low

Average

High

 

Total
Inputs

20

 

20 x 4

=

80
Outputs

10

20 x 2

 

=

40
Inquiries

10

10 x 2

 

=

20
Files

40

40 x 12

=

          480
Interfaces

30

30 x 15

=

450
 

TOTAL

=

1,070

Table 2 – Function Point Complexity

a. What is the estimated project duration?

b. If 20 people are available for the project, what is the estimated project duration?

c. If the project must be complete in six months, how many people will be needed for the project?

 

3. Below is a project WBS with cost apportioned by percents. If the total project cost is estimated to be $500,000, what are the estimated costs for the following deliverables?

 

 

a.  Systems Design?

b.  Programming?

c.  System testing?

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d. What weaknesses are inherent in this estimating approach?



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