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Robin ReidMIB 3 Spring 2019 Balance Sheet for Dec Y1 Alpina Hotel Blue Jacktar Hotel Homie Homie Hotel The White House Show all The White House Current Assets Cash $402,720 Inventories $543,252 Accounts Receivable $1,017,254 Total Current Assets $1,963,226 Restricted Cash Replacement Reserve $185,800 Borrowed Capital $0 Total Restricted Cash $185,800 Long Term Assets Building Property & Equipment $35,000,000 Plus: Building Capital Additions $1,156,000 Less: Building Depreciation $1,250,882 FF&E Property & Equipment $5,000,000 Plus: FF&E Capital Additions $651,000 Less: FF&E Depreciation $384,300 Net Long Term Assets $40,171,818 Total Assets $42,320,844 Current Liabilities Accounts Payable $164,758 Taxes Payable $0 Total Current Liabilities $164,758 Long Term Liabilities Bank Loan $15,437,500 Owners Equity Share Capital $15,000,000 Retained Earnings $11,718,586 Total Owners Equity $26,718,586 Total Liabilities & Equity $42,320,844 Robin ReidMIB 3 Spring 2019 Balance Sheet for Dec Y2 Alpina Hotel Blue Jacktar Hotel Homie Homie Hotel The White House Show all The White House Current Assets Cash $844,631 Inventories $998,818 Accounts Receivable $998,056 Total Current Assets $2,841,505 Restricted Cash Replacement Reserve $1,510,121 Borrowed Capital $444 Total Restricted Cash $1,510,566 Long Term Assets Building Property & Equipment $35,000,000 Plus: Building Capital Additions $2,956,000 Less: Building Depreciation $2,531,376 FF&E Property & Equipment $5,000,000 Plus: FF&E Capital Additions $1,104,000 Less: FF&E Depreciation $766,181 Net Long Term Assets $40,762,443 Total Assets $45,114,514 Current Liabilities Accounts Payable $242,559 Taxes Payable $0 Total Current Liabilities $242,559 Long Term Liabilities Bank Loan $15,016,263 Owners Equity Share Capital $15,000,000 Retained Earnings $14,855,692 Total Owners Equity $29,855,692 Total Liabilities & Equity $45,114,514 Robin ReidMIB 3 Spring 2019 3 Months Summary Income for Dec Y2 Last 3 Months Prior 3 Months YTD Last YTD $ % $ % $ % $ % Revenue Rooms $2,561,470 66.78% $3,682,891 71.01% $11,462,187 69.83% $10,809,121 76.57% Food & Beverage $947,661 24.71% $1,145,071 22.08% $3,696,653 22.52% $2,450,029 17.36% Other Departments $326,561 8.51% $358,776 6.92% $1,256,468 7.65% $856,852 6.07% Total Revenue $3,835,692 100% $5,186,737 100% $16,415,307 100% $14,116,002 100% Departmental Expenses Rooms $645,575 25.2% $937,005 25.44% $2,842,837 24.8% $2,679,580 24.79% Food & Beverage $535,725 56.53% $602,188 52.59% $2,172,925 58.78% $2,054,059 83.84% Other Departments $199,147 60.98% $223,185 62.21% $820,655 65.31% $584,664 68.23% Total Expenses $1,380,447 35.99% $1,762,378 33.98% $5,836,417 35.55% $5,318,303 37.68% Total Departmental Profit $2,455,244 64.01% $3,424,359 66.02% $10,578,891 64.45% $8,797,699 62.32% Undistributed Expenses Marketing & Sales $363,045 9.46% $399,795 7.71% $1,538,505 9.37% $1,746,600 12.37% Administrative and General $425,395 11.09% $465,702 8.98% $1,773,351 10.8% $1,844,391 13.07% Property Operations and Maintenance $129,065 3.36% $138,540 2.67% $507,155 3.09% $509,055 3.61% Total Undistributed Expenses $917,505 23.92% $1,004,037 19.36% $3,819,011 23.26% $4,100,046 29.05% Gross Operating Profit $1,537,739 40.09% $2,420,323 46.66% $6,759,880 41.18% $4,697,652 33.28% Less: Management Fees Base Fee $76,714 2.0% $103,735 2.0% $328,306 2.0% $282,320 2.0% Incentive Fee $107,642 2.81% $169,423 3.27% $473,192 2.88% $328,836 2.33% Income before fixed charges $1,353,383 35.28% $2,147,165 41.4% $5,958,382 36.3% $4,086,497 28.95% Fixed Charges Property Taxes $60,000 1.56% $60,000 1.16% $240,000 1.46% $240,000 1.7% Insurance $30,000 0.78% $30,000 0.58% $120,000 0.73% $120,000 0.85% Property Depreciation Building $320,744 8.36% $321,241 6.19% $1,280,494 7.8% $1,250,882 8.86% Property Depreciation FF&E $96,865 2.53% $96,423 1.86% $381,880 2.33% $384,300 2.72% Total Fixed Charges $507,609 13.23% $507,664 9.79% $2,022,374 12.32% $1,995,183 14.13% Net Operating Income $845,774 22.05% $1,639,502 31.61% $3,936,008 23.98% $2,091,314 14.82% Other Income $82,200 $72,200 $246,800 $46,800 Total Income $927,974 $1,711,702 $4,182,808 $2,138,114 Income Tax $231,994 25.0% $427,925 25.0% $1,045,702 25.0% $534,529 25.0% Net Profit $695,981 17.76% $1,283,776 24.41% $3,137,106 18.83% $1,603,586 11.32% BST 223 Cash and Credit Management Final Assessment Report From the different, full set of annual accounts that each of you have received, please conduct the following cash and credit analysis: a) Construct a full Statement of Cash Flow (20%) b) Comment on each of each of the activities from the perspective of potential investors. (5%) c) Analyze the Income Statement, with specific reference to net income, divisional cost margins and individual operating costs. (20%) d) Evaluate how the operation could apply its surplus cash funds and which stakeholders could benefit. (20%) e) Analyze the Balance Sheet with reference to net worth, liquidity and solvency. (20%) f) If the operation was to expand and offer credit to a broader clientele, what optimal credit policies should it adopt (15%) Formalities: • Wordcount: 2,000 words +/- 10% • Cover, Table of Contents, References and Appendix are excluded from the total wordcount. • Font: Arial 12,5 pts. • Text alignment: Justified. • The in-text References and the Bibliography have to be in Harvard’s citation style. Submission: Week 8 – Via Moodle (Turnitin). Monday, May10th 2021 at 17.30hrs. Weight: This task has a weighting of 60% of the total grade for this subject. Learning Outcomes The ability to analyze financial statements and understand all of the cash implications To show a full comprehension of cash and credit policies To use critical thought in assessing investment opportunities and recommending effective cash and credit control. Exceptional 90-100 Good 80-89 Fair 70-79 Marginal fail 60-69 Knowledge & Understanding (20%) Student produces a report which demonstrates excellent understanding of key concepts of cash management Student produces a report which is only partly analyzed but provides coverage of the salient features. Student produces a report which lacks essential insights and demonstrates limited knowledge and comprehension. Student provides few insights and demonstrates a lack of comprehension of most of the requisite concepts. Application (30%) Student applies his grasp of the subject matter with appropriate ratios and evidence supporting analysis and interpretation. Student applies relevant knowledge to the choice of some of the financial changes. More detailed analysis justification is required. Student applies some relevant knowledge but analysis is limited and unconvincing. Key omissions are evident of key requisite module components. Student struggles to illustrate concepts and policies with relevant ratios and supporting evidence. Critical Evaluation (30%) Student critically assesses the movement of cash and financial changes over the year, through detailed evaluation of all key concepts. There is clear evidence of critical evaluation by the student of some but not all of the concepts within the report. A clear effort towards interpretation is evident. Student provides only a few insights into concepts and a lack of research and interpretation of are clearly evident. Student shows little or no critical thinking insights and this is reflected in an explanation of what events took place without interpreting why and how they developed. Communication (20%) Student communicates their ideas extremely clearly and concisely, respecting word count, grammar and spellcheck Student communicates their ideas clearly and concisely, respecting word count, grammar and spellcheck Student communicates their ideas with some clarity and concision. It may be slightly over or under the wordcount limit. Some spelling errors may be evident. Student communicates their ideas in a somewhat unclear and unconcise manner. Does not reach or exceed wordcount and spelling errors are evident.