TUGAS I

MANAJEMEN PEMASARAN DAN PASAR MODAL

Chapter 3
Financial Statements Analysis and Financial Models

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) : 1,55
Total Asset Turnover (TATO) : 1,75
Profit Margin (PM) : 4.3 % : 0,043
Ditanya :
Return on Equity (ROE) ?
Jawab :
ROE = EM x TATO x PM
= 1,55 x 1,75 x 0,043
= 11,7 %

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

Total Debt
DER =
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 %

Net Income
ROE =
Total Equity

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 :
A B
Total Debt Total Debt
DAR = DAR =
Total Assets Total Assets
Total Debt Total Debt
0,35 = 0,55 =
Total Assets Total Assets
Total Assets - Total Equity Total Assets - Total Equity
0,35 = 0,55 =
Total Assets Total Assets
Total Assets Total Equity Total Assets Total Equity
0,35 = - 0,55 = -
Total Assets Total Assets Total Assets Total Assets
Total Equity Total Equity
0,35 = 1 - 0,55 = 1 -
Total Assets Total Assets
Total Equity Total Equity
0,65 = 0,45 =
Total Assets Total Assets
Total Equity = 0,65 x Total Assets Total Equity = 0,45 x Total Assets
Net Income Net Income
ROA= ROA=
Total Assets Total Assets
Net Income Net Income
0,09 = 0,07 =
Total Assets Total Assets
Net Income = 0,09 x Total Assets Net Income = 0,07 x Total Assets
Net Income Net Income
ROE= ROE=
Total Equity Total Equity
0,09 x Total Assets 0,07 x Total Assets
ROE= ROE=
0,65 x Total Assets 0,45 x Total Assets
ROE = 0,1385 = 13,85% ROE = 0,1556 = 15,56 %
 Dari hasil perhitungan diatas, maka dapat kita ambil kesimpulan bahwa
perusahaan B lebih baik tingkat ROEnya dibandingnya perusahaan A, masing-
masing 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 company 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
𝑁𝑃𝑀 =
Sales
Net Income
𝑆𝑎𝑙𝑒𝑠 =
PM
265.000
𝑆𝑎𝑙𝑒𝑠 = = 2.849.462
0.093

Assuming 80 pecent of sales are on credit = 80 % x 2.849.462

= 2.279.569
Sales on credit 2.276.569
Receivable Turn Over = = = 16
AR 145.300

Day’s sales in receivables = 365/16

= 23
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 : Sales
Net Income = Sales x NPM
= 5.780 x 0,094
= 543,32
ROE = Net Income : Total Equity
Total Equity = Net Income : ROE
= 543,32 : 0,182
= 2.985,3
Total Asset = Net Income : ROE
= 5.780 : 0,182
= 31.758
Fixed asset = Total Aset – Current Asset
= 31.758 – 1.187,5
= 30.570,5

16. Calculating 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

( EBIT + depreciation) 13.088 + 2,730

Cash Coverage = = = 8,1
Interest 1,940
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 EBT EBIT Sales Total Asset

ROE = x x x x
EBT EBIT Sales Total Assets 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 Statements

Common Common
Size 2012 Size 2013
Assets
Current Assets
Cash 2.86% 3.13%
Accounts Receivable 7.29% 7.21%
Inventory 13.12% 13.14%
Total 23.26% 23.48%
Fixed Assets
Net Plant and Equipment 76.74% 76.52%

Total Assets 100% 100%

Liabilities and Owners' Equity

Current Liabilities
Accounts Payble 14.57% 14.43%
Note Payble 6.22% 5.36%
Total 20.79% 19.78%
Long-term debt 8.55% 9.75%
Owners' Equity
Common Stock and paid-in surplus 13.54% 12.33%
Retained earnings 57.11% 58.14%
Total 70.65% 70.47%
Total Liabilities and Owners' Equity 100% 100%