FINA304: Corporate Finance Assignment 1: Financial Statement Analysis Instructions: Based on the provided financial statements, calculate the following ratios and interpret the results. Interpretation and explanations would be given more weights in grading 1. Short-term liquidity/Solvency (a) Current ratio (b) Quick ratio (c) Cash ratio (d) Networking Capital 2. cash flow statement 3. Profitability ratio (a) Operating activities (+ve or-ve and explanations) (6) Investment activities (+ve or ve and explanations) (c) Financing activities (+ve or -ve and explanations) propit Margin Xue Zaman (a) ROA (b) Profit margin (c) ROE Tomas egun (d) EPS (e) P/E ratio Me income 4. Long-term solvency (a) Debt to equity ratio (b) Debt to asset ratio (c) Equity multiplier 5. Asset Management (a) Inventory turnover (b) Receivable turnover (c) Totalasset turnover -> Nisan Motor Co, Ltd FY2020 Consolidated Result 2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income Consolidated statement of income FY2019 (From April 1, 2019 Ta March , 2020) in millions of yen) FY2020 (From April 1.2020 To March 31, 2021 7.862,572 11.747 1.050.825 78.66 42.905 1.435.961 Net sales Cost of sales Gross profil Selling general and mistrative expenses Advertising expenses Service costs Proin for warranty cost Other selling expenses Salaries and wapes Retirement benefit expenses Supplies Depreciation and amortization Prision for doubt sccounts Amortization of goodwill Other Total selling general and administrative expenses Operating No-operating income Interest income Dividendi income Equity in earnings of ailules Derivatne Exchana Miscellaneous income Total nonperating income Non-operating expenses 2001 66,509 122.991 220.981 187.759 21.458 2.349 63465 109.659 1,681 398, 1.476,430 10.469) 212.534 113.86 94.707 101.764 765351 17.773 1:54 54.161 33.234 1.038 185.193 1.201,476 (150631) 21.265 7.37 13.109 3,097 W41 59,757 42,423 2246 9,970 184,634 55.40 10.874 16481 35.61 Equines of amilles Derivatives Exchange loss Miscellance expenses Total hunperating expenses Ordinary income 01.24 BINS 100305 #409 24.553 152.059 1.221.10 Nissan Motor Co. La 2013 PYM20 Calidated Pinancial Results 3.CONSOLIDATED FINANCIAL STATEMENTS (1) Consolidated Balance Sheet FY2019 As of March 31. 30201 tin millions of yes FY2020 (As of March 31, 2001) 1.382.471 356.156 6,739 3.36 260510 1,940 67.865 190,618 739, 107 (142.264) 10,675.939 1,871.794 518.451 6212.797 162.232 647,583 66,171 42517 624347 (180.533) 10.349,659 Asset Current assets Cash on hand and in hank Trademoes and accounts receivable Salestine receivables Securities Merched and finished good Work in process Raw materials and supplies Other Allowance for derful account Total current assets Fixed Property, plant and equipment Builches and structures et Machinery queen and vehicles.net Land Construction in progress Othernet Total property, plant and equipment Intangible fixed assets Investments and other anes Investment securities Long-term loans receivable Net defined benefits Deferred tax assets 382716 2.936316 509064 227,1 IKUS 4.51550 114.032 500.016 2,201,640 389613 228.101 26618 4,378.554 121.221 Other 1.177.184 13:55 10,197 228,012 241.632 (3,885) 1.666,995 6100770 1.129.007 11.572 29.0 169.295 266,457 (3.7641 1.595.410 6,085.185 Allowance for doubtful accounts Total investments and other acte Totalfixed asset Esferred acts Bendisse costs Toul defendant Totalsts 7.224 7.334 16.452,068 16,976.709 Nissan Motor CTO Pol Fiscale FY2019 (As of March 31, 2020) millions of FY2030 (Ax of March 31.2020 1357047 1.339,949 1.26 904 72017 763332 35.572 1.01.26 104.297 1.501.972 1,016504 L.721.797 1.149 $14.9 1,034.305 LOL.624 784.95 6,7232 8786-17 8,065.746 Libilities Current liabilities Tansand accounts payable Short borings Current portion of hing-term burning Commercial papers Current portion of honds Lene obligations Aerol expenses Accred ways Other Total curent liabile Letermines Bonde Long-tere bomo Lew obligatione Deferred aitties Accrued warranty Net defined benefit lability Othst Total liabilities Totalities Nafas Shareholdersity Common deel Capital surplus Retained Treauty sock Telholdersity Accumulated the compechenie Leared holdings en securities Unidos from hedging int Adjustment van of the account of the stated subsidiaries based on general price 1.033.954 2,078 358 72.494 347438 105,751 1540 461437 4.486.60 12.331,036 2.046,620 2.173677 75.450 264,101 TOZ. 103 157.521 465,988 335.860 12.112.742 604314 MIN 4.135.13 (139.262) 5,409.651 $17,071 2629,938 (139.2591 4911564 (16.4301 2015 61.902 10.6.199 SA Translation inte Resument of defined benefit plans Total accumulated other competence Non-congwe Totalne Total ubilities and 11,00 2981 1345.362) 36.444 4,424,77) 16,976,709 (06.2001 177.5101 1966.971 395.213 16452.065 Niru Moto C 2011 FY Codatelna Consolidated Statement of Cash Flows FY2019 (From April 1, 2019 To Mach 31. 2030 in nullions of y FY2020 From April 1. 20.30 To March 31, 20211 (573.0221 (339334) 158,414 216 39 197 Cofron perting activities Le before incumetnes Deprecated and amortization for fire excluding leased bile Depreciation and antontition for long term prepaid expenses) Depreciation and amortization for sed vehicles) Inquientos Increase decrease in allen ance for doubtful receivables Provision for residual value risk of leased vehicles (net changesi Interest and dividend income Interest expense Equity in oferir alates Lou (aco sales of fixed Loss en disposal of fixed Decrease increase in tradentes and accounts receivable Dec les finance receivables Decrease increase in inventories lors decrease in trade notes and accounts payable Other Subtotal Intest and dividends received Proceeds from divided income families aceed for by 43.311 18488 5400542 21.110 19.775 28.550) 200,16 (6.5171 15.220) 17.914 141.82 66770 (118.578) (255.66) (104.581) 1.123.140 29,195 35.10 193.162 9.109 (33.400 205173 16,061 181.392 3561 (16.837) 13.892 139.212) 773543 22.62 23.257 (50,638 1452.470 19,828 . 173.7 99 100 (2041203 136157) 1.185.54 (180.315) (48.491) 1.322.780 espaid Income taxes and Netcash provided by used in operating achities Cashflows tomesting activities Nel decrease increase in short-term investments Purchase of fired uced from sale of fixed The of love Proceeds from sales of lease velices Put of long term les receivable Collection of long-term los recible 874 (464,219 49.242 1.114.50 243.759 (07 755 11.776) 260 (363.377) 49,536 CR19,9283 710.622 1112 796 17781 2.951 Pace of how can the Precords of wbude resulting in changes 1.766 8.95 10.04 Other Nebytes in engine N5.579 (XS 170 ONTI 105 369.121 Nissan Motor Co. Lad (201) PY2020 Consolidated Financial Results FY2019 From April 1, 2019 To March 31, 2020 in millions of yen FY2020 From April 2020 To March 31.2020) 309.217 1.655,630 160.124 (1.71% 635) (57.1991 9.500 (1.055.807) 2.071.366 1.433.800 12.254.174) 1772.585) 2.877 (49.190 Cash flows from financing activities Net increase (decrease in short-term borrowing Proceeds from long-term borrowings Proceeds from issance of boods Repayments of long-term borrowings Redemption of bonds Proceeds from share istance to non-controlling shareholders Purchase of treasury stock Repayments of case obligations Cash dividend paid Cash dividendspond to non-controlling interests Payments from changes in ownership inerests in subsidiaries that do not result in change in scope of consolidation Proceeds from changes in ownership interests in subsidiaries that do el result in change in scope of consolidation Net cash provided by used in financing activities Effects of exchange rate changes on cash and is equivalent Increase (decrease in cash and cast equivalent Casis and cash cuivalents a beginning of the period Increase due to inclusion in consolidation Cath and cash equivalents at end of the period (2) 17.261) (150.653) I.) (15.0203 (96) 5.011 (639.692) 76,934 390,910 (155.494) (43.954) 277,719 1.359,05% 6.104 1.6-12.951 1.642.98! 115 2,034.026