Questions
: Financial Statement Analysis The following are BAC Bhd.’s year end statement of financial position and...

: Financial Statement Analysis

The following are BAC Bhd.’s year end statement of financial position and statement of profit and loss for 2016 and 2017:
2017 ($) 2016 ($)
Non Current Assets:   
Gross Non Current assets 317,503 232,179
Less accumulated depreciation 54,045 34,187
Net Non Current assets 263,458 197,992
Current Assets:
ICLBAT/JANUARY2019
7

Cash and equivalents 208,323 102,024
Accounts receivable 690,294 824,979
Inventories 942,374 715,414
Total Current Aassets 1,840,991 1,642,417
Total Assets 2,104,449 1,840,409
Non Current Liabilities   
Long term debt 410,769 372,931
Total Non Current Liabilities 410,769 372,931
Current Liabilites   
Short term borrowings 288,798 296,149
Accounts payable 636,318 414,611
Accruals 106,748 103,362
Total Current Liabilities 1,031,864 814,122
Total Liabilities 1,442,633 1,187,053
Shareholders’ Equity   
Common stock (100,000 shares) 550,000 550,000

Retained earnings 111,816 103,356
Total Shareholders’ Equity 661,816 653,356
Total Liabilities and Shareholders’ Equity 2,104,449 1,840,409



2017 ($) 2016 ($)
Sales 2,325,967 2,220,607 (-) Cost of goods sold 1,869,326 1,655,827 Other expenses 287,663 273,870 Total operating costs excluding depreciation and amortization 2,156,989 1,929,697 Depreciation and amortization 25,363 26,341 Total operating costs 2,182,352 1,956,038 EBIT 143,615 264,569 (-) Interest expense 31,422 13,802 EBT 112,193 250,767 (-) Taxes (30%) 33,658 75,230 Net income 78,535 175,537

Related items:
2017 2016 Total dividends paid $70,075 $150,000 Stock price per share $15.60 $21.80

Required:
(a) Calculate the after tax operating income (i.e. after-tax EBIT) for 2016 and 2017.

(b) Calculate the net working capital (NWC) that is supported by non-free sources for 2016 and 2017, and the changes in NWC between these two years.

(c) What is free cash flow (FCF)? Calculate the FCF for 2017. Is a negative FCF always a bad sign?

(d) Calculate the following for the company for 2017: (i) Earnings per share (1 mark) (ii) Dividends per share (1 mark) (iii) Book value per share (1 mark) (Total: 15 marks)

In: Accounting

This assignment will give you more experience on the use of: 1. integers (int) 2. floats...

This assignment will give you more experience on the use of:
1. integers (int)
2. floats (float)
3. conditionals
4. iteration
The goal of this project is to make a fictitious comparison of the federal income. You will ask the user to input
their taxable income. Use the income brackets given below to calculate the new and old income tax. For the
sake of simplicity of the project we will only consider individuals and not married users. We will also ignore any
tax deductions while calculating income tax—they can significantly alter the tax, but add too much complexity for
our programming project.
New income tax brackets (2018 and newer)
Rate Income range
10% Up to $9,525
12% $9,526 to $38,700
22% $38,701 to $82,500
24% $82,501 to $157,500
32% $157,501 to $200,000
35% $200,001 to $500,000
37% over $500,000
Old income tax brackets (2017 and older)
Rate Income range
10% Up to $9,325
15% $9,326 to $37,950
25% $37,951 to $91,900
28% $91,901 to $191,650
33% $191,651 to $416,700
35% $416,701 to $418,400
39.6% over $418,401
Assignment Background
Being in the 25% tax bracket doesn’t mean you pay 25% on everything you make. The progressive tax
system means that people with higher taxable incomes are subject to higher tax rates, and people with
lower taxable incomes are subject to lower tax rates.
For example, let’s say you’re a filer with $32,000 in taxable income. That puts you in the 15% tax
bracket in 2017. But do you pay 15% on all $32,000? No. Actually, you pay only 10% on the first
$9,325; you pay 15% on the rest. (Look at the tax brackets above to see the breakout.)
If you had $50,000 of taxable income, you’d pay 10% on that first $9,325 and 15% on the chunk of
income between $9,326 and $37,950. And then you’d pay 25% on the rest, because some of your
$50,000 of taxable income falls into the 25% tax bracket. The total bill would be $8,238.75 — about
16% of your taxable income, even though you’re in the 25% bracket.
Project Description
Your program must meet the following specifications:
1. At program start, prompt the user for their income
2. Repeatedly prompt the user for new income until a negative income is entered.
3. Calculate the income tax using the 2017 and 2018 tax bracket tables above.
4. For each income entered:
a. Calculate the 2017 income tax and store it in a variable.
b. Next calculate the 2018 income tax and store it in a variable
c. Print
i. The income
ii. The 2017 tax
iii. The 2018 tax
iv. The difference between the 2018 and 2017 tax rounded to cents.
v. The difference between the 2018 and 2017 tax as a percentage of the 2017 tax
rounded to cents
Assignment Notes
1. To clarify the project specifications, sample output is appended to the end of this document.
2. Use a while loop with a Boolean that keeps looping as long as the income is greater than or
equal to zero. Prompt for income before the loop and remember to convert the input string to
an int (so you are comparing an int in your Boolean expression). Remember to prompt again at
the end (aka “bottom”) of the loop.
4. There will be no error checking in this assignment. If a float or a string is entered at the
prompt, the program will crash.
Test Cases
Test Case 1
_____________________________________________________________
Enter income as an integer with no commas: 8000
Income: 8000
2017 tax: 800.00
2018 tax: 800.00
Difference: 0.00
Difference (percent): 0.00
Enter income as an integer with no commas: 15000
Income: 15000
2017 tax: 1783.75
2018 tax: 1609.50
Difference: -174.25
Difference (percent): 9.77
Enter income as an integer with no commas: 40000
Income: 40000
2017 tax: 5738.75
2018 tax: 4739.50
Difference: -999.25
Difference (percent): 17.41
Enter income as an integer with no commas: 100000
Income: 100000
2017 tax: 20981.75
2018 tax: 18289.50
Difference: -2692.25
Difference (percent): 12.83
Enter income as an integer with no commas: 200000
Income: 200000
2017 tax: 49399.25
2018 tax: 45689.50
Difference: -3709.75
Difference (percent): 7.51
Enter income as an integer with no commas: 500000
Income: 500000
2017 tax: 153818.85
2018 tax: 150689.50
Difference: -3129.35
Difference (percent): 2.03
Enter income as an integer with no commas: 1000000
Income: 1000000
2017 tax: 351818.85
2018 tax: 335689.50
Difference: -16129.35
Difference (percent): 4.58
Enter income as an integer with no commas: 10000000
Income: 10000000
2017 tax: 3915818.85
2018 tax: 3665689.50
Difference: -250129.35
Difference (percent): 6.39
Enter income as an integer with no commas: -1
Test 2
______________________________________________________________
Enter income as an integer with no commas: -1
Run test cases 3,4,5 and more yourself.

python

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