Financial Analysis Sample (Excel File)

2002 Financial Analysis
(Excel File)
7.28
TM
Financial Statements
Form 1. Financial Data From QuickBooks Pro

Name of Business:
Fiscal Year:
TTAP Enterprises
2002
Ending Date
12/31/02
Beginning Date
1/1/2002
TM
Financial Statement Data From QuickBooks Pro
Total Income
(a)
$352,998
Other Income
(b)
$18,779
Accrual Revenue Adjustments if not Made in Accounting Data ( Form 3)
(c)
$0
Total Gain (loss) - Livestock Disposed
(d)
$1,883
Cost of Goods Sold
(e)
$358,337
Total Operating Expense and Interest (Total Expense)
(f)
$340,364
Total Other Expense including Income Tax expense
(g)
($329,286)
Accrual Adjustments To Expenses if not Made in Accounting Data (Form 3)
(h)
$0
Income Tax Expense
(i)
$0
Interest Expense (Form 2)
(j)
$65,409
Accured Interest Expense (Form 3)
(k)
$0
(l)
$0
(m)
$0
Gain (loss) on Disposal of Capital Assets Other Than Breeding Livestock

Extraordinary Gain
Extraordinary Loss
(n)
$0
_______________________________________________________________________________________________
Income Statement Major Report Lines
Revenue
Sales (a+b-d-l-m)
Gain (loss) Breeding Livestock Disposed (d)
Accrual Revenue Adjustments if not Made in Accounting Data (c
Gross Revenue
$369,894
$1,883
$0
$371,777
Total Operating Expense Including Cost of Goods Sold (f+g+h+e-i-j-k-n

Operating Margin
$304,007
$67,770
Interest (j+k)
Net Farm/Ranch Income after Operation and Financing Cost
$65,409
$2,361
Gain (loss) from Disposal of Non-Breeding Stock Capital Assets (l

Net Farm/Ranch Income
$0
$2,361
Income Tax Expense (i)

Net after tax Income Before Extraordinary Items
$0
$2,361
Extraordinary Income or Expense (m+n)

$0
Net Income After Taxes and Extraordinary Items
$2,361
_______________________________________________________________________________________________
Beginning Date
1/1/2002
Balance Sheet Values For Farm or Ranch Business

Total Current Assets
Total Fixed Assets
Ending Date
12/31/2002
$336,862
(o)
$324,341
$2,224,871
(p)
$2,229,574
Total Assets (o+p)
$2,561,733 (q)
Total Current Liabilities
$64,044
(r)
$68,773
$1,082,480
(s)
$1,067,571
Total Long Term Liabilities

Total Liabilities (r+s)
$1,146,524
Equity (q-t)
$2,553,915
(t)
$1,136,344
$1,415,209 (w)
$1,417,570
Other Data Needed

Total Depreciation
$48,105
Agricultural Program Payments - Accrual Adjustments
$0
Agricultural Program Payments
$13,260
Total Agricultural Program Payments - Accural Adjusted
$13,260
Change in Equity Due to Valuation Equity
$0
Number of Full-time Operators and Hired Employees (FTE)

2.0
_______________________________________________________________________________________________
7.29
Form 2. Repayment Capacity Data and Business Debt Information

Name of Business:
TTAP Enterprises
Fiscal Year:
2002
Fiscal Year Values

Net Non-farm Income Available to Support Debt (Contributed Capital)
$0
Capital Contributions
$0
Capital Distributions
$0
Annual Payments on Personal Liabilities (If Not Included in Capital Distributions)
$0
Total Income Tax Expenses
$0
Interest
Interest (current loans)
Interest (non-current loans)
Interest on Capital Leases
Paid
Accural Interest
$2,401
$65,409
$0
Total
Interest Expense with Accrual Adjustment (Form 1)
$65,409
$0
$65,409
Total Interest on Term Debt and Capital Leases
$65,409
Scheduled Principal Payments on Term Debt (Beginning of Fiscal Year)
$14,044
Scheduled Principal Payments on Capital Leases (Beginning of Fiscal Year)
$0
Payment on Unpaid Operating Debt from Prior Period
$0
Total Depreciation
$48,105
Operating Margin
$67,770
10. Term Debt and Capital Lease Coverage Ratio
1.46 %
11. Capital Replacement and Term Debt Repayment Margin
7.30
$36,422
Table 1. Farm Financial Standards and Other Financial Performance Measures

Name of Business:
TTAP Enterprises
Fiscal Year
Select FFS Ratios and Percent Values

Liquidity
1. Current Ratio x:1
2. Working Capital
Solvency
3. Debt to Asset Ratio %
4. Equity to Asset Ratio %
5. Debt to Equity Ratio %
2002
Your
Business
Beginning
5.26
$272,818
Ending
4.72 :1
$255,567
44.76
55.24
81.01
44.49 %
55.51 %
80.16 %
Profitability
6. Return on Assets (ROA) %
2.65 %
7. Return on Equity (ROE) %
0.17 %
8. Operating Margin Ratio
18.23 %
9. Net Income From Operations - Pre Interest and Income Tax
$67,770
Repayment Capacity
10. Term Debt and Capital Lease Coverage Ratio
x:1
11. Capital Replacement and Term Debt Repayment Margin
1.46 :1
$36,422
Financial Efficiency
12. Asset Turnover Ratio
x:1
0.15 :1
Operating Ratios
13. Operating Expense Ratio
68.83 %
14. Depreciation Expense Ratio
12.94 %
15. Interest Expense Ratio
17.59 %
16. Net Income From Operation Ratio

0.64 %
____________________________________________________________________________________
Other Performance Values
Net Income After Tax and Extraordinary Items
$2,361
Change In Equity
$2,361
Leverage Situation Index (ROE/ROA)
0.06
Consumption and Savings Margin

Percent of Gross Revenue
$2,361
0.64 %
Operating Margin per Full-time Operator and Hired Employees
$67,770
Net Income per Full-time Operator and Hired Employees

$1,181
____________________________________________________________________________________
7.31
Table 2. Du Pont Equation and Financial Analysis Calculation
Name of Business:
TTAP Enterprises
Base
Value
Fiscal Year:
2002
Changed
Value
Measure
Formula
1.
Operating Margin Ratio
(F/B)*100
18.23 %
8.18 %
26.41 %
2.
Asset Turnover
(B/G)
0.145 x:1
-0.001 x:1
0.144 x:1
3.
Leverage Ratio
(1/H/G)
1.806
-0.009
1.797
4.
Interest Adjustment
(E/G)
0.026
0.000
0.025
--------------------------------------------------------------------------------------------------- --------------- -------------------- --------------- -------------------- --Du Pont Equation
ROA = ((F+D+E)/G)*100 or (1*2)*100
2.65 %
1.17 %
3.82 %
x:1
ROE = (ROA-4)*3)*100 or ((F-D)/H)*100
Change
0.17 %
2.12 %
2.29 %
Leverage Situation Index

(ROE/ROA)**
0.06
0.60
--------------------------------------------------------------------------------------------------- --------------- -------------------- --------------- -------------------- --Calculations of ROA:
Operating Margin Ratio *
Asset Turnover
=
ROA
%
18.23
0.15
2.65 %
With Change
26.41
0.14
=
3.82 %
--------------------------------------------------------------------------------------------------- --------------- -------------------- --------------- -------------------- --Calculations of ROE:
ROA - Int. Adj.
*
Leverage
*100
= ROE
%
0.026
0.026
1.81 *100
0.17 %
With Change
0.038
0.025
1.80 *100
2.29 %
--------------------------------------------------------------------------------------------------- --------------- -------------------- --------------- -------------------- --- -------------------Base
Percent
Changed
Dollar
Financial Statement Data (Form 1)
Value
Change
Values
Change
A
Agricultural Program Payments (Form 1)
Gross Revenue
$371,777
Total Operating Expenses
Interest Expense
Income Tax Expense
Operating Margin (B-C)**
$13,260
0.0
$13,260
$0
0.0 %
$371,777
$0
$304,007
-10.0 %
$273,606
$65,409
0.0 %
$65,409
$0
$0
0.0 %
$0
$0
$67,770
44.9 %
$98,171
$30,401
($30,401)
Beginning Assets
$2,561,733
$2,561,733
Ending Assets
$2,553,915
1.190 %
$2,584,315
$30,401
Average Assets
$2,557,824
0.594 %
$2,573,024
$15,200
Beginning Equity
$1,415,209
Ending Equity
$1,417,570
$1,415,209
2.145 %
$1,447,971
$30,401
Average Equity
$1,416,390
1.073 %
$1,431,590
$15,200
--------------------------------------------------------------------------------------------------- --------------- -------------------- --------------- -------------------- --- -------------------*If net operating income is positive and the leverage situation is greater than 1 then the cost debt is less than earnings and debt is beneficial.
If less than one it means returns on debt are less than cost and added debt is not beneficial.
**Change in Agricultural Program Payments and Crop Insurance proceeds will change this value.
7.32
Balance Sheet Values

$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Total Assets
Total Liabilities
Owner's Equity
Beginning Year
Ending Year
Solvency Ratios
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
Solvency
Debt to Asset Ratio
44.49
Equity to Asset Ratio
55.51
Debt to Equity Ratio
80.16
Return on Assets and Return on Equity
3.00
2.50
2.00
1.50
1.00
0.50
0.00
Profitability
ROA %
2.65
ROE %
0.17
Operating Ratios
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
Ratio Percentages
Operating Expense
68.83%
Depreciation Expense
12.94%
Interest Expense
17.59%
Net Income
0.64%
7.33

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2002 Financial Analysis

Form 1. Financial Data From QuickBooks Pro

Financial Statement Data From QuickBooks Pro

Accrual Revenue Adjustments if not Made in Accounting Data ( Form 3)

Total Gain (loss) - Livestock Disposed

Cost of Goods Sold

Total Operating Expense and Interest (Total Expense)

Total Other Expense including Income Tax expense

Accrual Adjustments To Expenses if not Made in Accounting Data (Form 3)

Income Tax Expense

Interest Expense (Form 2)

Accured Interest Expense (Form 3)

Gain (loss) on Disposal of Capital Assets Other Than Breeding Livestock

Total Operating Expense Including Cost of Goods Sold (f+g+h+e-i-j-k-n

Gain (loss) from Disposal of Non-Breeding Stock Capital Assets (l

Income Tax Expense (i)

Extraordinary Income or Expense (m+n)

Balance Sheet Values For Farm or Ranch Business

Total Assets (o+p)

Total Current Liabilities

Total Long Term Liabilities

Other Data Needed

Agricultural Program Payments - Accrual Adjustments

Agricultural Program Payments

Total Agricultural Program Payments - Accural Adjusted

Change in Equity Due to Valuation Equity

Number of Full-time Operators and Hired Employees (FTE)

Form 2. Repayment Capacity Data and Business Debt Information

Fiscal Year Values

Annual Payments on Personal Liabilities (If Not Included in Capital Distributions)

Total Income Tax Expenses

Total Interest on Term Debt and Capital Leases

Scheduled Principal Payments on Term Debt (Beginning of Fiscal Year)

Scheduled Principal Payments on Capital Leases (Beginning of Fiscal Year)

Payment on Unpaid Operating Debt from Prior Period

10. Term Debt and Capital Lease Coverage Ratio

11. Capital Replacement and Term Debt Repayment Margin

Table 1. Farm Financial Standards and Other Financial Performance Measures

Select FFS Ratios and Percent Values

7. Return on Equity (ROE) %

8. Operating Margin Ratio

9. Net Income From Operations - Pre Interest and Income Tax

11. Capital Replacement and Term Debt Repayment Margin

14. Depreciation Expense Ratio

15. Interest Expense Ratio

16. Net Income From Operation Ratio

Leverage Situation Index (ROE/ROA)

Consumption and Savings Margin

Operating Margin per Full-time Operator and Hired Employees

Net Income per Full-time Operator and Hired Employees

Table 2. Du Pont Equation and Financial Analysis Calculation

Operating Margin Ratio

ROE = (ROA-4)*3)*100 or ((F-D)/H)*100

Leverage Situation Index

Agricultural Program Payments (Form 1)

Total Operating Expenses

Income Tax Expense

Operating Margin (B-C)**

Balance Sheet Values

Debt to Asset Ratio

ROE = (ROA-4)3)100 or ((F-D)/H)*100