Just for Feet
ACCT 3596: Auditing
Just For FEET, Inc.
Case Analysis: Case 1.2 #1-3, 5
Beka Vinogradov
Seat #1
2011
1 Beka Vinogradov ACCT 3596: Case Analysis
#1. Common-Sized Balance Sheets. Just for FEET, Inc. Balance Sheet Years ending Jan 31st 1997 18.40% 0.00% 3.53% 45.97% 1.50% 69.40% 21.08% 8.05% 1.46% 100.00% 20.22% 11.41% 2.07% 0.30% 0.72% 34.73% 5.48% 40.21% 0.00% 48.76% 11.03% 59.79%
1996 Current Assets: Cash & Equivalents Marketable Securities AFS Accounts Receivable Inventory Other Current Assets Total Current Assets Property & Equipment, net Goodwill, net Other Total Assets Current Liabilities: Short-Term Borrowings Accounts Payable Accrued Expenses Income Taxes Payable Current Maturities of LT Debt Total Current Liabilities LT Debt & Obligations Total Liabilities Shareholders ' Equity: Common Stock Paid-In Capital Retained Earnings Total Shareholders ' Equity Total Liabilities & SH ' Equity 0.00% 50.69% 7.47% 58.15% 36.93% 9.04% 1.74% 35.47% 0.56% 83.75% 14.61% 0.00% 1.64% 100.00% 26.61% 10.35% 1.46% 0.11% 0.56% 39.09% 2.76% 41.85%
1998 1.80% 0.00% 2.74% 58.01% 2.65% 65.20% 23.29% 10.31% 1.19% 100.00% 0.00% 14.55% 3.60% 0.13% 0.96% 19.25% 33.51% 52.75% 0.00% 36.20% 11.04% 47.25%
100.00%
100.00%
100.00%
2 Beka Vinogradov ACCT 3596: Case Analysis
#1. Common-Sized Income Statements. Just for FEET, Inc. Income Statement Years ending Jan 31st 1997 100.00% 58.46% 41.54% 0.23% 29.18% 1.41% 0.25% 3.77% 34.60% 7.17% -0.30% 0.29% 7.15% 2.68% 4.47% 0.00% 4.47%
Net Sales Cost of Sales Gross Profit Other Revenues Operating Expenses: Store Operating Store Opening Costs Amortization of Intangibles General & Administrative Total Operating Expenses Operating Income Interest Expense Interest Income EBIT & ∆ Acct. Principle Provision for Income Taxes Earnings prior to ∆ Acct. Principle Prior Year ∆ Acct. Principle Net Earnings
1996 100.00% 57.54% 42.46% 0.23% 27.04% 4.38% 0.07% 3.07% 34.57% 8.12% -0.32% 1.85% 9.65% 3.43% 6.22% -0.80% 5.43%
Just For FEET, Inc.
Case Analysis: Case 1.2 #1-3, 5
Beka Vinogradov
Seat #1
2011
1 Beka Vinogradov ACCT 3596: Case Analysis
#1. Common-Sized Balance Sheets. Just for FEET, Inc. Balance Sheet Years ending Jan 31st 1997 18.40% 0.00% 3.53% 45.97% 1.50% 69.40% 21.08% 8.05% 1.46% 100.00% 20.22% 11.41% 2.07% 0.30% 0.72% 34.73% 5.48% 40.21% 0.00% 48.76% 11.03% 59.79%
1996 Current Assets: Cash & Equivalents Marketable Securities AFS Accounts Receivable Inventory Other Current Assets Total Current Assets Property & Equipment, net Goodwill, net Other Total Assets Current Liabilities: Short-Term Borrowings Accounts Payable Accrued Expenses Income Taxes Payable Current Maturities of LT Debt Total Current Liabilities LT Debt & Obligations Total Liabilities Shareholders ' Equity: Common Stock Paid-In Capital Retained Earnings Total Shareholders ' Equity Total Liabilities & SH ' Equity 0.00% 50.69% 7.47% 58.15% 36.93% 9.04% 1.74% 35.47% 0.56% 83.75% 14.61% 0.00% 1.64% 100.00% 26.61% 10.35% 1.46% 0.11% 0.56% 39.09% 2.76% 41.85%
1998 1.80% 0.00% 2.74% 58.01% 2.65% 65.20% 23.29% 10.31% 1.19% 100.00% 0.00% 14.55% 3.60% 0.13% 0.96% 19.25% 33.51% 52.75% 0.00% 36.20% 11.04% 47.25%
100.00%
100.00%
100.00%
2 Beka Vinogradov ACCT 3596: Case Analysis
#1. Common-Sized Income Statements. Just for FEET, Inc. Income Statement Years ending Jan 31st 1997 100.00% 58.46% 41.54% 0.23% 29.18% 1.41% 0.25% 3.77% 34.60% 7.17% -0.30% 0.29% 7.15% 2.68% 4.47% 0.00% 4.47%
Net Sales Cost of Sales Gross Profit Other Revenues Operating Expenses: Store Operating Store Opening Costs Amortization of Intangibles General & Administrative Total Operating Expenses Operating Income Interest Expense Interest Income EBIT & ∆ Acct. Principle Provision for Income Taxes Earnings prior to ∆ Acct. Principle Prior Year ∆ Acct. Principle Net Earnings
1996 100.00% 57.54% 42.46% 0.23% 27.04% 4.38% 0.07% 3.07% 34.57% 8.12% -0.32% 1.85% 9.65% 3.43% 6.22% -0.80% 5.43%