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Assignment 2: Turnaround StrategiesBelow are the balance sheet and income statement for 2005 and 2006 of a company that is in financial distress.Balance Sheet for 2005 and 20062005 ($)2006 ($)Cash20,0005,000Accounts receivables150,000395,000Inventories300,000200,000Total current assets470,000600,000Fixed assets, net350,000350,000Total assets820,000950,000Accounts payable85,000170,000Accruals40,00050,000Bank loan150,000150,000Total current liabilities275,000270,000Long-term debt325,000500,000Common stock ($5 par)100,000100,000Capital Surplus70,00070,000Retained Earnings50,00010,000Total liabilities and equity820,000950,000Income Statement for 2005 and 20062005 ($)2006 ($)Net sales800,000600,000Cost of goods sold500,000400,000Gross profit300,000200,000Marketing50,00070,000General and administrative60,00080,000Depreciation20,00030,000EBIT170,00020,000Interest50,00060,000Earnings before taxes120,00040,000Income taxes (35%)42,0000Net income78,00040,000Your tasks:Calculate the firm’s total operating cycle for 2005 and 2006.What type of working capital restructuring can the firm do to turn around its performance? What other types of asset restructuring might the firm consider?What type of operations restructuring should the firm consider?What type of financial restructuring should the firm consider?Present the information and your analysis as a four-page report. Include your Excel worksheets Submit your report to the W5: Assignment 2 Dropbox by October 12, 2013.Grading CriteriaMaximum PointsAccurately calculated the firm’s total operating cycle for two years.10Recommended working capital and asset restructuring.10Recommended operations restructuring.10Recommended financial restructuring.10Presented a structured document free of spelling and grammatical errors.5Properly cited sources using APA format.5Total:

Assignment 2: Turnaround StrategiesBelow are the balance sheet and income statement for 2005 and 2006 of a company that is in financial distress.Balance Sheet for 2005 and 20062005 ($)2006 ($)Cash20,0005,000Accounts receivables150,000395,000Inventories300,000200,000Total current assets470,000600,000Fixed assets, net350,000350,000Total assets820,000950,000Accounts payable85,000170,000Accruals40,00050,000Bank loan150,000150,000Total current liabilities275,000270,000Long-term debt325,000500,000Common stock ($5 par)100,000100,000Capital Surplus70,00070,000Retained Earnings50,00010,000Total liabilities and equity820,000950,000Income Statement for 2005 and 20062005 ($)2006 ($)Net sales800,000600,000Cost of goods sold500,000400,000Gross profit300,000200,000Marketing50,00070,000General and administrative60,00080,000Depreciation20,00030,000EBIT170,00020,000Interest50,00060,000Earnings before taxes120,00040,000Income taxes (35%)42,0000Net income78,00040,000Your tasks:Calculate the firm’s total operating cycle for 2005 and 2006.What type of working capital restructuring can the firm do to turn around its performance? What other types of asset restructuring might the firm consider?What type of operations restructuring should the firm consider?What type of financial restructuring should the firm consider?Present the information and your analysis as a four-page report. Include your Excel worksheets Submit your report to the W5: Assignment 2 Dropbox by October 12, 2013.Grading CriteriaMaximum PointsAccurately calculated the firm’s total operating cycle for two years.10Recommended working capital and asset restructuring.10Recommended operations restructuring.10Recommended financial restructuring.10Presented a structured document free of spelling and grammatical errors.5Properly cited sources using APA format.5Total:

Assignment 2: Turnaround StrategiesBelow are the balance sheet and income statement for 2005 and 2006 of a company that is in financial distress.Balance Sheet for 2005 and 20062005 ($)2006 ($)Cash20,0005,000Accounts receivables150,000395,000Inventories300,000200,000Total current assets470,000600,000Fixed assets, net350,000350,000Total assets820,000950,000Accounts payable85,000170,000Accruals40,00050,000Bank loan150,000150,000Total current liabilities275,000270,000Long-term debt325,000500,000Common stock ($5 par)100,000100,000Capital Surplus70,00070,000Retained Earnings50,00010,000Total liabilities and equity820,000950,000Income Statement for 2005 and 20062005 ($)2006 ($)Net sales800,000600,000Cost of goods sold500,000400,000Gross profit300,000200,000Marketing50,00070,000General and administrative60,00080,000Depreciation20,00030,000EBIT170,00020,000Interest50,00060,000Earnings before taxes120,00040,000Income taxes (35%)42,0000Net income78,00040,000Your tasks:Calculate the firm’s total operating cycle for 2005 and 2006.What type of working capital restructuring can the firm do to turn around its performance? What other types of asset restructuring might the firm consider?What type of operations restructuring should the firm consider?What type of financial restructuring should the firm consider?Present the information and your analysis as a four-page report. Include your Excel worksheets Submit your report to the W5: Assignment 2 Dropbox by October 12, 2013.Grading CriteriaMaximum PointsAccurately calculated the firm’s total operating cycle for two years.10Recommended working capital and asset restructuring.10Recommended operations restructuring.10Recommended financial restructuring.10Presented a structured document free of spelling and grammatical errors.5Properly cited sources using APA format.5Total:

Assignment 2: Turnaround StrategiesBelow are the balance sheet and income statement for 2005 and 2006 of a company that is in financial distress.Balance Sheet for 2005 and 20062005 ($)2006 ($)Cash20,0005,000Accounts receivables150,000395,000Inventories300,000200,000Total current assets470,000600,000Fixed assets, net350,000350,000Total assets820,000950,000Accounts payable85,000170,000Accruals40,00050,000Bank loan150,000150,000Total current liabilities275,000270,000Long-term debt325,000500,000Common stock ($5 par)100,000100,000Capital Surplus70,00070,000Retained Earnings50,00010,000Total liabilities and equity820,000950,000Income Statement for 2005 and 20062005 ($)2006 ($)Net sales800,000600,000Cost of goods sold500,000400,000Gross profit300,000200,000Marketing50,00070,000General and administrative60,00080,000Depreciation20,00030,000EBIT170,00020,000Interest50,00060,000Earnings before taxes120,00040,000Income taxes (35%)42,0000Net income78,00040,000Your tasks:Calculate the firm’s total operating cycle for 2005 and 2006.What type of working capital restructuring can the firm do to turn around its performance? What other types of asset restructuring might the firm consider?What type of operations restructuring should the firm consider?What type of financial restructuring should the firm consider?Present the information and your analysis as a four-page report. Include your Excel worksheets Submit your report to the W5: Assignment 2 Dropbox by October 12, 2013.Grading CriteriaMaximum PointsAccurately calculated the firm’s total operating cycle for two years.10Recommended working capital and asset restructuring.10Recommended operations restructuring.10Recommended financial restructuring.10Presented a structured document free of spelling and grammatical errors.5Properly cited sources using APA format.5Total:

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