参考没有:EM131620
Case Analysis
给出了公司及其行业的简要概述，以及一些提示您的注意力。为您提供了三年的损益表和资产负债表。
你是一个金融分析师为investm工作ent firm. This manufacturer has asked for your firm's help in raising capital for the upcoming season's production requirements. It is your job to analyze the financial statements and comment to the investment brokers on this firm's current financial situation. It is late July, and the firm's financial statements (representing the fiscal year ending June 30) have just been released.
对于此项目，您必须在Excel工作簿中的单独工作表上重新创建所附的财务报表。然后，在另一个工作表上，您必须创建公式来计算可以从给定财务报表中得出的财务比率。These ratios are to be calculated using formulas in the cells that are linked to the other worksheets: no credit will be given if the ratios are calculated by hand and entered into the cells.You must determine which ratios can be calculated with the information given, based on the ratios given in your textbook. There is enough data for you to calculate liquidity, asset management, leverage, and profitability ratios.您必须分别计算DU PONT比率分析。必须计算所有三年的比率，并应按时间顺序呈现，以便您进行趋势分析。
户外运动公司
Outdoor Sports，Inc。是冲浪板，风冲浪者和相关设备的制造商。该公司由两名冲浪者在他们的车库里进行的两家冲浪者创办，并带有自己的设计冲浪板。该公司迅速发展，兑现了风冲浪的日益普及。
Outdoor Sports' business is highly cyclical. Inventory is built up during the late fall and winter months, and the majority of sales are booked and delivered to distributors during the early spring. Competition among the many manufacturers of this easily made product line is intense. Small manufacturers like Outdoor Sports are under great pressure from major sports equipment makers, who have substantial promotional resources at their disposal, as well as complementary products, countercyclical to the sale of surfing equipment. Brand recognition is an important selling point in this competitive business, achieved at considerable expense through sport personality endorsements and other promotional campaigns.
户外体育财务的期望取决于财政年度何时进行检查。在6月30日，该公司的财政年度结束时，财务状况应该最有利。应收账款，库存，应付税和营运资金借贷应处于季节性低点。该公司应该是现金富裕的，因为它即将为下一个赛季的生产运行做好准备。财产，工厂和设备应与公司的制造业需求相称，并得到股权和长期债务的支持。
销售利润率近距离观看。激烈竞争引起的定价压力可能会侵蚀危险的低水平。鉴于业务的季节性，冬季可能会有现金流紧缩。总体而言，如果业务仍在迅速增长，并且需要外部财务资源来实现现金流量。
The potential of overproducing during the winter period for a spring sales period that fails to live up to management's expectations is also a significant risk.
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OUTDOOR SPORTS, INC. |
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资产负债表（$ 000） |
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2011年6月30日 |
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2009 |
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2010 |
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2011 |
ASSETS |
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当前资产 |
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现金 |
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182 |
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25 |
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30 |
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应收账款 |
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338 |
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391 |
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349 |
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Inventory |
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283 |
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831 |
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1,207 |
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Prepaid Expenses |
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63 |
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33 |
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11 |
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Other Current Assets |
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11 |
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8 |
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3 |
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流动资产总额 |
877 |
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1,287 |
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1,601 |
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Propert, Plant & Equipment |
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Land, Buildings & Equipment |
842 |
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842 |
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941 |
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更少的累计折旧 |
179 |
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226 |
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286 |
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Net land, Buildings & Equipment |
663 |
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616 |
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655 |
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Total Assets |
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$ 1,540 |
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$ 1,903 |
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$ 2,255 |
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负债 |
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Accounts Payable, Trade |
129 |
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283 |
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347 |
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Accounts Payable, Other |
80 |
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52 |
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61 |
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预提费用 |
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0 |
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0 |
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0 |
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短期债务 |
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184 |
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413 |
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745 |
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Income Tax Payable |
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61 |
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0 |
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0 |
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总体负债总额 |
454 |
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748 |
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1,152 |
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长期债务 |
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578 |
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682 |
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869 |
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负债总额 |
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1,031 |
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1,430 |
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2,021 |
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股东权益 |
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Capital Stock |
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275 |
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275 |
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275 |
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Retained Earnings |
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234 |
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198 |
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(41) |
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Total Stockholders' Equity |
509 |
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473 |
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234 |
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负债总额and Equity |
$ 1,540 |
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$ 1,903 |
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$ 2,255 |
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户外运动公司 |
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损益表（$ 000） |
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2011年6月30日 |
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2009 |
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2010 |
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2011 |
Sales |
2,519 |
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4,914 |
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6,185 |
商品成本 |
1,460 |
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2,899 |
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4,172 |
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总收入 |
1,059 |
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2,016 |
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2,013 |
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Operating Expenses |
732 |
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1,898 |
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2,060 |
折旧费用 |
30 |
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47 |
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61 |
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Operating Income (EBIT) |
297 |
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72 |
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（107） |
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利息花费 |
72 |
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107 |
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132 |
所得税费用 |
90 |
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0 |
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0 |
其他费用 |
47 |
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0 |
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0 |
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净利 |
$ 89 |
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$ (36) |
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$（239） |