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Question: Page 7 9B16B008 EXHIBIT 3: AMERICAN APPARELINC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET, 200...
Page 7 9B16B008
EXHIBIT 3: AMERICAN APPAREL INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEET, 2008â2013
December 31,
(Amounts and shares in thousands, except per share amounts)
2013
2012
2011
2010
2009
2008
ASSETS
CURRENT ASSETS
Cash
$ 8,676
$ 12,853
$ 10,293
$ 7,656
$ 9,046
$ 11,368
Trade accounts receivable
20,701
22,962
20,939
16,688
16,907
16,439
Restricted cash
-
3,733
Prepaid expenses and other current assets
15,636
9,589
7,631
9,401
9,994
5,369
Inventories, net
169,378
174,229
185,764
178,052
141,235
148,154
Income taxes receivable and prepaid income taxes
306
530
5,955
4,114
4,494
604
Deferred income taxes, net of valuation allowance
599
494
148
626
4,627
3,935
Total current assets
215,296
224,390
230,730
216,537
186,303
185,869
Property and equipment, net
69,303
67,778
67,438
85,400
103,310
112,408
Deffered taxes
2,426
1,261
1,529
1,695
12,033
10,137
Other assets, net
46,727
34,783
25,024
24,318
25,933
25,195
TOTAL ASSETS
$ 333,752
$ 328,212
$ 324,721
$ 327,950
$ 327,579
$ 333,609
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
CURRENT LIABILITIES
Cash overdraft
$ 3,993
$-
$ 1,921
$ 3,328
$ 3,741
$ 2,413
Revolving credit facilities and current portion of long-term
debt
44,042
60,556
50,375
138,478
6,346
34,318
Accounts payable
38,290
38,160
33,920
31,534
19,705
32,731
Accrued expenses and other current liabilities
50,018
41,516
43,725
39,028
30,573
22,140
Fair value of warrant liability
20,954
17,241
9,633
993
2,608
8,582
Income taxes payable
1,742
2,137
2,445
230
Deferred income tax liability, current
1,241
296
150
-
Current portion of capital lease obligations
1,709
1,703
1,181
560
1,907
2,616
Total current liabilities
161,989
161,609
143,350
214,151
64,880
102,800
LONG-TERM DEBT, net of unamortized discount of $5,779 and
$27,929 at December 31, 2013 and 2012, respectively
213,468
110,012
97,142
444
Subordinated notes payble to related party
5,453
2,844
-
4,611
65,997
67,050
Capital lease obligations, net of current portion
1,726
542
4,355
3,292
Deferred tax liability
536
262
96
260
1,020
1,986
Deferred rent, net of current portion
18,225
20,706
22,231
24,924
22,052
16,011
Other long-term liabilities
11,485
10,695
12,046
7,994
11,934
6,058
Total Long -Term Liabilites
249,167
144,519
133,241
38,775
105,358
94,397
TOTAL LIABILITIES
411,156
306,128
276,591
252,926
$ 170,238
$ 197,197
STOCKHOLDERS' (DEFICIT) EQUITY
Shares outstanding at December 31, 2012
11
11
11
8
7
7
Additional paid-in capital
185,472
177,081
166,486
153,881
150,449
131,252
Accumulated other comprehensive loss
(4,306)
(2,725)
(3,356)
(3,168)
(2,083)
(2,703)
Accumulated deficit
(256,424)
(150,126)
(112,854)
(73,540)
19,012
17,900
Less: Treasury stock, 304 shares at cost
(2,157)
(2,157)
(2,157)
(2,157)
(10,044)
(10,044)
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY
(77,404)
22,084
48,130
75,024
157,341
136,412
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
$ 333,752
$ 328,212
$ 324,721
$ 327,950
$ 327,579
$ 333,609
1. Fill in the table below with information from the financialstatements provided in your chosen companyâs case study. Calculatethe % change between the current year and previous year for eachitem. Remember to correctly identify the currency for your casestudy.
Most Current Year
% Chg (+/â)
Previous Year
Current Assets
Total Assets
Current Liabilities
Total Debt
Sales/Revenue
Cost of Goods Sold
Inventory
Net Income/Loss
2. From the information in the table above, identify which lineitems are increasing with a plus sign and which are decreasing witha minus sign. Evaluate whether the change from the previous year isgood or bad for the companyâs performance and explain why
- 3. Use the information in the table above to calculate thefollowing financial ratios. Explain what the result of each ratiosays about your chosen companyâs financial health.
- Current Ratio
- Debt to Asset Ratio (Debt Ratio)
- Inventory Turnover
- Return on Sales (Profit Margin)
home / study / business / accounting / accounting questions andanswers / page 7 9b16b008 exhibit 3: american apparel inc. andsubsidiaries consolidated balance sheet, ...
Question: Page 7 9B16B008 EXHIBIT 3: AMERICAN APPARELINC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET, 200...
Page 7 9B16B008
EXHIBIT 3: AMERICAN APPAREL INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEET, 2008â2013
December 31, | ||||||
(Amounts and shares in thousands, except per share amounts) | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
ASSETS | ||||||
CURRENT ASSETS | ||||||
Cash | $ 8,676 | $ 12,853 | $ 10,293 | $ 7,656 | $ 9,046 | $ 11,368 |
Trade accounts receivable | 20,701 | 22,962 | 20,939 | 16,688 | 16,907 | 16,439 |
Restricted cash | - | 3,733 | ||||
Prepaid expenses and other current assets | 15,636 | 9,589 | 7,631 | 9,401 | 9,994 | 5,369 |
Inventories, net | 169,378 | 174,229 | 185,764 | 178,052 | 141,235 | 148,154 |
Income taxes receivable and prepaid income taxes | 306 | 530 | 5,955 | 4,114 | 4,494 | 604 |
Deferred income taxes, net of valuation allowance | 599 | 494 | 148 | 626 | 4,627 | 3,935 |
Total current assets | 215,296 | 224,390 | 230,730 | 216,537 | 186,303 | 185,869 |
Property and equipment, net | 69,303 | 67,778 | 67,438 | 85,400 | 103,310 | 112,408 |
Deffered taxes | 2,426 | 1,261 | 1,529 | 1,695 | 12,033 | 10,137 |
Other assets, net | 46,727 | 34,783 | 25,024 | 24,318 | 25,933 | 25,195 |
TOTAL ASSETS | $ 333,752 | $ 328,212 | $ 324,721 | $ 327,950 | $ 327,579 | $ 333,609 |
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY | ||||||
CURRENT LIABILITIES | ||||||
Cash overdraft | $ 3,993 | $- | $ 1,921 | $ 3,328 | $ 3,741 | $ 2,413 |
Revolving credit facilities and current portion of long-term | ||||||
debt | 44,042 | 60,556 | 50,375 | 138,478 | 6,346 | 34,318 |
Accounts payable | 38,290 | 38,160 | 33,920 | 31,534 | 19,705 | 32,731 |
Accrued expenses and other current liabilities | 50,018 | 41,516 | 43,725 | 39,028 | 30,573 | 22,140 |
Fair value of warrant liability | 20,954 | 17,241 | 9,633 | 993 | 2,608 | 8,582 |
Income taxes payable | 1,742 | 2,137 | 2,445 | 230 | ||
Deferred income tax liability, current | 1,241 | 296 | 150 | - | ||
Current portion of capital lease obligations | 1,709 | 1,703 | 1,181 | 560 | 1,907 | 2,616 |
Total current liabilities | 161,989 | 161,609 | 143,350 | 214,151 | 64,880 | 102,800 |
LONG-TERM DEBT, net of unamortized discount of $5,779 and | ||||||
$27,929 at December 31, 2013 and 2012, respectively | 213,468 | 110,012 | 97,142 | 444 | ||
Subordinated notes payble to related party | 5,453 | 2,844 | - | 4,611 | 65,997 | 67,050 |
Capital lease obligations, net of current portion | 1,726 | 542 | 4,355 | 3,292 | ||
Deferred tax liability | 536 | 262 | 96 | 260 | 1,020 | 1,986 |
Deferred rent, net of current portion | 18,225 | 20,706 | 22,231 | 24,924 | 22,052 | 16,011 |
Other long-term liabilities | 11,485 | 10,695 | 12,046 | 7,994 | 11,934 | 6,058 |
Total Long -Term Liabilites | 249,167 | 144,519 | 133,241 | 38,775 | 105,358 | 94,397 |
TOTAL LIABILITIES | 411,156 | 306,128 | 276,591 | 252,926 | $ 170,238 | $ 197,197 |
STOCKHOLDERS' (DEFICIT) EQUITY | ||||||
Shares outstanding at December 31, 2012 | 11 | 11 | 11 | 8 | 7 | 7 |
Additional paid-in capital | 185,472 | 177,081 | 166,486 | 153,881 | 150,449 | 131,252 |
Accumulated other comprehensive loss | (4,306) | (2,725) | (3,356) | (3,168) | (2,083) | (2,703) |
Accumulated deficit | (256,424) | (150,126) | (112,854) | (73,540) | 19,012 | 17,900 |
Less: Treasury stock, 304 shares at cost | (2,157) | (2,157) | (2,157) | (2,157) | (10,044) | (10,044) |
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY | (77,404) | 22,084 | 48,130 | 75,024 | 157,341 | 136,412 |
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY | $ 333,752 | $ 328,212 | $ 324,721 | $ 327,950 | $ 327,579 | $ 333,609 |
1. Fill in the table below with information from the financialstatements provided in your chosen companyâs case study. Calculatethe % change between the current year and previous year for eachitem. Remember to correctly identify the currency for your casestudy.
Most Current Year | % Chg (+/â) | Previous Year | |
Current Assets | |||
Total Assets | |||
Current Liabilities | |||
Total Debt | |||
Sales/Revenue | |||
Cost of Goods Sold | |||
Inventory | |||
Net Income/Loss |
2. From the information in the table above, identify which lineitems are increasing with a plus sign and which are decreasing witha minus sign. Evaluate whether the change from the previous year isgood or bad for the companyâs performance and explain why
- 3. Use the information in the table above to calculate thefollowing financial ratios. Explain what the result of each ratiosays about your chosen companyâs financial health.
- Current Ratio
- Debt to Asset Ratio (Debt Ratio)
- Inventory Turnover
- Return on Sales (Profit Margin)
