Prepare Beneish ratio analysis. Discuss any red flags, identified by your analysis. ...
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Finance
Prepare Beneish ratio analysis. Discuss any red flags, identified by your analysis.
| Data | 2009 | 2010 | Change | |
| Accounts Receivable | $630,098 | $462,616 | -$167,482 | |
| Sales | $13,839,420 | $13,437,965 | -$401,455 | |
| COGS | $66,000 | $241,000 | $175,000 | |
| Gross Margin | $13,773,420 | $13,196,956 | -$576,464 | |
| Current Assets | $3,046,158 | $3,018,050 | -$28,108 | |
| Total Assets | $47,364,253 | $46,615,082 | -$749,171 | |
| Net Fixed Assets | $31,109,506 | $30,266,377 | -$843,129 | |
| Current Liabilities | $302,778 | $329,969 | $27,191 | |
| Long term debt | $1,808,242 | $1,610,845 | -$197,397 | |
| Working Capital | $2,743,380 | $2,688,081 | -$55,299 | |
| Cash | $662,298 | $1,029,798 | $367,500 | |
| Tax payable | $4,132,026 | $3,959,086.80 | -$172,939 | |
| Depreciation | $12,667,326 | $12,311,621 | -$355,705 | |
| Amortization | $55,333 | $46,111 | -$9,222 | |
| SGAI | $562,700 | $303,045 | -$259,655 |
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