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3 Financial Statements - Interview Question Model

($ in Millions, Except Per Share Amounts and Share Counts in Thousands)

Assumptions Interview Questions

Tax Rate: 40% Revenue Changes By… Goodwill Impairment Changes By…
Interest Rate On Debt: 10% Cost of Goods Sold Changes By… PP&E Write-Down Changes By…
Current Share Price: $10.00 SG&A Changes By… Debt Write-Down Changes By…
Par Value of Stock: $1.00 Depreciation Changes By… Deferred Income Taxes Changes By…
Initial Cash Balance: $100
Accounts Receivable Changes By… Long-Term Investments Changes By…
Units for Shares: 1,000 Inventory Changes By… Long-Term Debt Changes By…
Units for Financials: 1,000,000 Accounts Payable Changes By.. Interest Income Changes By…
Accrued Expenses Changes By… Dividends Declared Changes By…
Deferred Revenue Changes By… Dividends Issued Changes By…
CapEx Changes By… Equity Bailout Changes By…
Re-Purchase Shares Changes By…
Issue New Shares Changes By…

Income Statement Balance Sheet Cash Flow Statement


Old New Old New
Assets: Operating Activities:
Revenue: $1,000 $1,000 Current Assets: Net Income:
Cost of Goods Sold: $100 $100 Cash & Cash-Equivalents: $550 $550 Depreciation:
Gross Profit: $900 $900 Accounts Receivable: $100 $100 Stock-Based Compensation:
Operating Expenses: Inventory: $200 $200 Goodwill Impairment:
Research & Development: $100 $100 Total Current Assets: $850 $850 PP&E Write-Down:
Selling, General & Admin.: $100 $100 Debt Write-Down:
Total Operating Expenses: $200 $200 Long-Term Assets: Deferred Income Taxes:
Property & Equip. (PP&E): $200 $200
Depreciation: $100 $100 Long-Term Investments: $100 $100 Changes in Operating Assets & Liabilities:
Stock-Based Compensation: $100 $100 Goodwill: $100 $100 Accounts Receivable:
Total Assets: $1,250 $1,250 Inventory:
Operating Income: $500 $500 Accounts Payable:
Interest Income / (Expense): $0 $0 Liabilities & Shareholders' Equity: Accrued Expenses:
Goodwill Impairment: $0 $0 Current Liabilities: Deferred Revenue:
PP&E Write-Down: $0 $0 Revolver: $50 $50 Cash Flow from Operations:
Debt Write-Down: $0 $0 Accounts Payable: $100 $100
Pre-Tax Income: $500 $500 Accrued Expenses: $100 $100 Investing Activities:
Income Tax Provision: $200 $200 Total Current Liabilities: $250 $250 LT Investments:
Capital Expenditures:
Net Income: $300 $300 Long-Term Liabilities: Cash Flow from Investing:
Deferred Revenue: $200 $200
Earnings Per Share: $3.00 $3.00 Long-Term Debt: $0 $0 Financing Activities:
Shares Outstanding: 100,000 100,000 Deferred Tax Liabilities: $100 $100 Dividends Issued:
Dividends Declared: $0 $0 Long-Term Debt:
Units Unit Cost Value Total Liabilities: $550 $550 Equity Bailout:
Beg. Inventory: 10 $10.0 $100 Re-Purchase Shares:
Q1 Additions: 10 $12.0 $120 Shareholders' Equity: Issue New Shares:
Q2 Additions: 10 $15.0 $150 Common Stock: $100 $100 Cash Flow from Financing:
Q3 Additions: 10 $17.0 $170 Additional Paid-In Capital: $100 $100
Q4 Inventory: 10 $20.0 $200 Treasury Stock: $0 $0 Increase / Decrease in Cash:
Total: 50 $740 Retained Earnings: $400 $400 Cash & Cash Equivalents:
Accum. Other Comp. Income: $100 $100
LIFO FIFO Average Total Shareholders' Equity: $700 $700
Sales: $1,200 $1,200 $1,200
COGS: $640 $540 $590 Total Liabilities & SE: $1,250 $1,250
Op. Expenses: $460 $460 $460
Pre-Tax Income: $100 $200 $150
Net Income: $60 $120 $90

Beg. Inventory: $100 $100 $100


Purchases: $640 $640 $640
Cost of Goods Sold: $640 $540 $590
Ending Inventory: $100 $200 $150
mpairment Changes By…
e-Down Changes By…
e-Down Changes By…
ncome Taxes Changes By…

m Investments Changes By…


m Debt Changes By…
come Changes By…
Declared Changes By…
Issued Changes By…
out Changes By…
se Shares Changes By…
Shares Changes By…

w Statement
Old New
Operating Activities:
$300 $300
$100 $100
ased Compensation: $100 $100
l Impairment: $0 $0
$0 $0
$0 $0
d Income Taxes: $0 $0

n Operating Assets & Liabilities:


s Receivable: $0 $0
$0 $0
$0 $0
$0 $0
$0 $0
from Operations: $500 $500

Investing Activities:
$0 $0
($50) ($50)
from Investing: ($50) ($50)

Financing Activities:
$0 $0
$0 $0
$0 $0
$0 $0
$0 $0
from Financing: $0 $0

Decrease in Cash: $450 $450


sh Equivalents: $550 $550