- 

         Inventories: 100.000 RON

-          Taxes Payable: 2.000 RON
-          Common Stock: 50.000 RON
Buildings and Equipment (Gross Value): 168.000 RON
-          Notes Payable: 32.000 RON
-          Cash: 30.000 RON
-          Accumulated retained earnings: 113.000 RON
-          Land: 37.000 RON
-          Accounts Receivable: 250.000 RON
-          Accounts Payable: 45.000 RON
-          Fixed Assets Depreciation: 33.000 RON
-          Bonds: 310.000 RON

ASSETS 2018
Cash 30,000
Accounts Receivable 250,000
Inventories 100,000
Total short-term assets 380,000
Buildings and Equipment (Gross Value) 168,000
Fixed assets depreciation -33,000
Buildings and Equipment (Net Value) 135,000
Land 37,000
Total Fixed Assets 172,000
TOTAL ASSETS 552,000

Assets=OE+Total Debt checked

 OE+Debt 2018
Taxes Payable 2,000
Notes Payable 32,000
Accounts Payable 45,000
Total short-term debt 79,000
Bonds 310,000
Total long-term debt 310,000
Common Stock 50,000
Accumulated Retained Earnings 113,000
Total Oweners Equity 163,000
Total OE+Debt 552,000
 ASSETS 2018 %
Cash 30,000 5.4348%
Accounts Receivable 250,000 45.2899%
Inventories 100,000 18.1159%
Total short-term assets 380,000 68.8406%
Buildings and Equipment (Gross Value) 168,000
Fixed assets depreciation -33,000

Buildings and Equipment (Net Value)

135,000 24.4565%
Land 37,000 6.7029%

Total Fixed Assets 172,000 31.1594%

TOTAL ASSETS 552,000 100.0000%

From the total amount of assets approximatly 70% is represented by current assets and only 30% are fixed assets. T
and it bases its activity on liquid assets. On the resources part ( equity and debt), we found a large portion (approx.
shareholders equity and only 14% is short-term debt. This means the company is preffering borrowed capital, enga
 OE+Debt 2018 %
Taxes Payable 2,000 0.3623%
Notes Payable 32,000 5.7971%

Accounts Payable 45,000 8.1522%

Total short-term debt 79,000 14.3116%

Bonds 310,000 56.1594%

Total long-term debt 310,000 56.1594%

Common Stock 50,000 9.0580%

Accumulated Retained Earnings 113,000 20.4710%

Total Oweners Equity 163,000 29.5290%

Total OE+Debt 552,000 100.0000%

assets and only 30% are fixed assets. This means the company is not capital intensive,
bt), we found a large portion (approx. 56%) dedicated to long-term debt, a 29% is
y is preffering borrowed capital, engaged for a long-period of time.
 Net Working Capital = Current Assets (less cash) – Current Liabilities (less debt in cash)
or,
NWC= LTD+OE- Fixed Assets

NWC 2018 301,000

We have a positive NWC wich means that long term resources cover all the long term needs and there is
still a certain amount that can be used to finance short-term needs such as current assets.
es (less debt in cash)

ong term needs and there is

urrent assets.
 ASSETS 2018 2019
Cash 30,000 15,000
Accounts Receivable 250,000 230,000

Inventories
100,000 170,000
Total short-term assets 380,000 415,000

Buildings and Equipment (Gross Value) 168,000 192,000

Fixed assets depreciation -33,000 -42,000
Buildings and Equipment (Net Value)
135,000 150,000
Land 37,000 41,000

Total Fixed Assets 172,000 191,000

TOTAL ASSETS 552,000 606,000

 OE+Debt 2018 2019
Taxes Payable 2,000 2,000

Notes Payable 32,000 39,000

Accounts Payable 45,000 50,000

Total short-term debt 79,000 91,000

Bonds 310,000 327,000

Total long-term debt 310,000 327,000

Common Stock 50,000 50,000

Accumulated Retained Earnings 113,000 138,000

Total Oweners Equity 163,000 188,000

Total OE+Debt 552,000 606,000

 ASSETS 2019 %
Cash 15,000 2.4752%

Accounts Receivable
230,000 37.9538%
Inventories 170,000 28.0528%
Total short-term assets 415,000 68.4818%
Buildings and Equipment (Gross Value) 192,000 31.6832%
Fixed assets depreciation -42,000 -6.9307%
Buildings and Equipment (Net Value) 150,000 24.7525%
Land 41,000 6.7657%

Total Fixed Assets 191,000 31.5182%

TOTAL ASSETS 606,000 100.0000%

On the needs side (Asset side of the Balance Sheet) the proportions remain almost the same. On the resources s
Balance Sheet) we can see an increase in own sources of financing (OE) but still an important part of the capita
borrowed funds (borrowed using a bond loan)
 OE+Debt 2019 %
Taxes Payable 2,000 0.3300%

Notes Payable 39,000 6.4356%

Accounts Payable 50,000 8.2508%

Total short-term debt 91,000 15.0165%

Bonds 327,000 53.9604%

Total long-term debt 327,000 53.9604%

Common Stock 50,000 8.2508%

Accumulated Retained Earnings 138,000 22.7723%

Total Oweners Equity 188,000 31.0231%

Total OE+Debt 606,000 100.0000%

ns remain almost the same. On the resources side (Equity and Debt side of the
ng (OE) but still an important part of the capital it is represented by long-term
(borrowed using a bond loan)
 Net Working Capital = Current Assets (less cash) – Current Liabilities (less debt in cash)
or,
NWC= LTD+OE- Fixed Assets

NWC 2019 324,000

We have a positive NWC wich means that long term resources cover all the long term
needs and there is still a certain amount that can be used to finance short-term needs
such as current assets. The NWC is still positive and larger than the one in previous year.
 NWC 2018 301,000
NWC 2019 324,000
Change in NWC 23,000

We have an increase in NWC, so the financing

policy is defensive and steady.