Practice Exercise - Springbok - Solution Strictly Confidential

Table of Contents

Springbok Financial Statements

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 Construct the Cash Flow Statement for Springbok Inc.
1. Calculate the differences on the balance sheet
2. Calculate net CAPEX using the note below the cash flow statement
3. Complete the cash flow statement
4. The boxes to complete are in gray

Income Statement Balance Sheet Cash Flow Statement

ASSETS YEAR 1 YEAR 2 YEAR 2

YEAR 1
Current Assets Operating Cash Flow
Revenues 78,579 Cash 3,746 3,172 (574) Net income 2,584
Cost of Sales (48,719) Accounts Receivable 10,440 10,980 540 Depreciation 3,199
Gross Profit 29,860 Inventory 5,189 5,382 193 Unpaid Taxes (43)
Total Current Assets 19,375 19,534 Change in Accounts Receivable (540)
Other Operating Expenses (21,632) Change in Inventory (193)
EBITDA 8,228 Non-Current Assets Change in Accounts Payable 387
Property, Plant & Equipment 25,972 26,193 221 Cash From Operations 5,394
Depreciation (3,199) Total Non-Current Assets 25,972 26,193
Operating Profit (EBIT) 5,029 Investing Cash Flow
Total Assets 45,347 45,727 Property, Plant & Equipment (3,420)
Interest Expenses (Finance Cost) (1,278) Cash From Investing (3,420)
Profit Before Tax (EBT) 3,751
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Financing Cash Flow
Tax Expense (1,167) Issuance (Repayment) of Short Term Debt (339)
Net Income (EAT) 2,584 Current Liabilities Issuance (Repayment) of Long Term Debt (812)
Accounts Payable 9,086 9,473 387 Issuance (Repayment) of Equity –
Dividends (1,397) Loans 3,124 2,785 (339) Payment of Dividends (1,397)
Retained Earnings 1,187 Unpaid Taxes 1,210 1,167 (43) Cash From Financing (2,548)
Total Current Liabilties 13,420 13,425
Net Increase (Decrease) in Cash (574)
Non-Current Liabilities Opening Cash Balance 3,746
Long-Term Debt 10,836 10,024 (812) Closing Cash Balance 3,172
Total Non-Current Liabilities 10,836 10,024
Matches balance sheet ok
Shareholders' Equity
Common Shares 9,202 9,202 – PPE Start of Year 25,972
Retained Earnings 11,889 13,076 1,187 Capex 3,420
Total Shareholders' Equity 21,091 22,278 Depreciation (3,199)
PPE End of Year 26,193
Total Liabilities & Equity 45,347 45,727

Total Assets 45,347 45,727

Total Liabilities & Equity 45,347 45,727
Difference – –

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