ScholarMatic: Explanation & Answer
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Chapter
3 Case – Fall 2017
Financial
Statement Analysis
Answer the
following questions using Microsoft Word, Excel, or both. Print out and turn in the hard copy at the
start of class on Monday, September 18.
Each case should turn in only one copy with all team members’ names and
course sections listed.
1.
Access the Securities and
Exchange Commission EDGAR system (.sec.gov/edgar/searchedgar/companysearch.html”>https://www.sec.gov/edgar/searchedgar/companysearch.html)
to view the most recent annual financial statements and information for Kohls
Retail Department Store.
a.
Click on the CIK number (in
red) for Kohls Corp.
b.
Scroll down to find their
latest 10K submission (Annual Report) and click on Interactive Data.
c.
If you would like to use Excel
for your case calculations you can click on View Excel Document. The data will
open in an Excel file.
2.
Calculate the following ratios using
the 2017 and 2016 financial statements provided in the 10K annual report. Show your calculations.
|
Ratio |
2017 |
2016 |
Industry Average |
|
Current Ratio |
2.2 |
||
|
Quick Ratio |
.3 |
||
|
Inventory Turnover |
4.3 times |
||
|
Days Sales Outstanding |
5.1 days |
||
|
Fixed Asset Turnover |
51.6 |
||
|
Total Asset Turnover |
3.8 |
||
|
Debt Ratio (Debt/Assets) |
29.45% |
||
|
Times Interest Earned |
15.0 |
||
|
Net Profit Margin |
1.52% |
||
|
Return on Assets |
4.0% |
||
|
Return on Equity |
5.2% |
||
|
Equity Multiplier |
.90 |
||
|
DuPont Equation (ROE) |
5.2% |
3.
Complete
both a trend and comparative analysis for Kohls. Comment on their liquidity position, asset utilization,
debt management, and profitability over time and vs. competitors. Is Kohls in a stronger or weaker financial
position than its average competitor?
Why?
4.
Review the Statements of Cash
Flows for 2017 and 2016 (ignore the supplemental information at the bottom).
Where did their cash come from and what did they spend it on? What information can you determine about the
company from their cash flow analysis about growth, dividend policy, and
general cash management (matching maturities, etc.)?
ScholarMatic: Explanation & Answer
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