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Financial Statements and Ratios

Open Posted By: highheaven1 Date: 25/04/2021 Graduate Coursework Writing

Please utilize excel to complete the questions for the said problems attached in the document. Please let me know if anything additional is needed. 


Report for Spirit Airlines - Item 8. Financial Statements and Supplementary Data

https://s24.q4cdn.com/507316502/files/doc_financials/2019/ar/2019-Form-10-KA.pdf



Category: Business & Management Subjects: Business Law Deadline: 12 Hours Budget: $120 - $180 Pages: 2-3 Pages (Short Assignment)

Attachment 1

Prob. 1

in M$ in % YoY Growth
2017 2018 2019 2017 2018 2019 2018 2019
Total Operating Revenues Answer part d below:
Operating Expenses:
Aircraft fuel
Salaries, wages and benefits
Landing fees and other rent
Depreciation/amortization
Aircraft rent
All other expenses
Total Operating Expenses
Operating Income
Total other income/expense
Income before taxes
Income tax expense
Net Income
Actual tax rate

Prob. 2

YoY growth rate
2018 2019 2019
Average yield
Expense per available seat mile (CASM)
Revenue passenger miles (millions)
Average fuel cost per gallon Answer parts d and e below:

Prob. 3

in M$ in % in M$ in %
2018 2019 2018 2019 2018 2019 2018 2019
Cash and short-term investments Air traffic liability
Accounts receivable, net Accounts payable
Aircraft maintenance deposits, net Current maturities of debt/leases
Other current assets Other current liabilities
Total Current Assets Total Current Liabilities
Property & Equipment, net LTD and lease obligations, less current
Operating lease right of use Deferred income taxes
Deferred heavy maintenance, net Deferred gains
All other assets Stockholder's equity
Total Assets Total Liab. and equity
Working capital
Current ratio
Quick ratio Answer part c in the box below
Total debt ratio
ROA
ROE
p/e ratio today

Prob. 4

Put your text answer in the yellow box.

Prob. 5

A
B
C
D
E

v. MAR 2021

No content - Intentionally left blank

Attachment 2

March 2021 | MGMT 332 | College of Business | worldwide.erau.edu

All rights are reserved. The material contained herein is the copyright property of Embry-Riddle Aeronautical University, Daytona Beach, Florida, 32114. No part of this material may be reproduced, stored in a retrieval system or transmitted in any form, electronic, mechanical, photocopying, recording or otherwise without the prior written consent of the University.

MGMT 332 Corporate Finance I

Module 1: Introductions, Financial Statements, and Ratios Problem Set 1 – Financial Statements and Ratios

Directions: Go to the investor relations page of Spirit Airlines to get its latest annual report.

1. Using the firm's selected financial data: a. Make a table showing the income statement (in M$). Note that any expenses that

do not have their own specific line listed should be grouped under "All other expenses"

b. Use the table created to create a common size income statement (as a % of operating revenues for that year)

c. Show year-on-year (YoY) growth d. What happened to the profit margins? e. What are the actual tax rates?

2. Using the operating stats, what is the YoY growth rate for:

a. Yield per passenger mile? b. Operating expense per available seat mile (CASM)? c. Revenue passenger miles? d. Average fuel cost per gallon? e. Considering the above, what factors do you think are affecting margins the most?

Be specific.

3. Using the firm's balance sheets, show: a. Balance sheets as shown (in M$); show only the net property and equipment

lines. b. Common size balance sheets. c. Are there any outliers in the balance sheets that you think merit mentioning? d. For these years, what is the net working capital position? Current ratio? Quick

ratio? Total debt ratio? Return on assets (ROA)? Return on equity (ROE)?What is the latest p/e ratio?

4. Using the Statement of Cash Flows, which operating activity items stand out to you and

why? Continues on the next page

Page 2 of 2

5. Go to the carrier snapshot section in the Bureau of Transportation

Statistics (United States Department of Transportation). Select American and answer the following questions:

a. What are the top three markets by share? b. What happened to passenger yields? c. What happened to costs per ASM? d. What do you think this means for the bottom line? e. What are the top three city pairs?