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Financial Statement Analysis for Legal Services Co Worksheet

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August 19th, 2024
Home Uncategorized Financial Statement Analysis for Legal Services Co Worksheet

  • EA9-A1 Perform a Financial Statement Analysis for Legal Services Co.

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    In this exercise, you will perform a financial statement analysis for Legal Services Co. You will perform horizontal/vertical analyses and create charts to highlight key information from these analyses. You will also calculate financial ratios and insert cell comments. Access the proper file.

    • Using Project Grader: Download EA9-A1-FSA-eStart.
    • Not using Project Grader: Open EA9-A1-FSA.

    Horizontal Analysis Tab

    • Range K8:K17: Create formulas to calculate the dollar change where appropriate. (PG-1a)
    • Range M8:M17: Create formulas to calculate the percent change where appropriate. (PG-1b)

    Create an embedded Clustered Column chart. (PG-2)

    • Based on: Percent change in each asset account
    • Position: To the right of and top-aligned with the balance sheet
    • Chart Title: Enter an appropriate name, centered above the column chart.
    • Resize the chart so all elements are logically displayed.
    • Change the chart type to Clustered Bar and remove gridlines.

    Vertical Analysis Tab

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    Columns K–L: Create formulas to complete a vertical analysis on the income statement for 2028 and 2027. (PG-3)

    Create a Clustered Column Chart. (PG-4)

    • Placement: On its own tab named: Expense Chart – 2028
    • Based on: 2028 expense account percentages and including the Total Expenses and Net Income cells

      • Chart Title: Enter an appropriate name, centered above the column chart.

    Change the chart type to 3-D Pie. (PG-5)

    • Filter out: Total Expenses (PG-5a)
    • Layout and style: Layout 2, Style 3 (PG-5b)
    • Legend: Display it to the right of the 3-D Pie chart. (PG-5c)
    • Data labels: Display Percentages, two decimals; Best Fit (PG-5d)
    • Y-axis: Rotate to 40 degrees. (PG-5e)
    • Chart title background: Solid, standard yellow fill (PG-5f)
    • Explode the largest pie slice. (PG-5g)

    Display Column Sparklines to the right of each revenue and expense account (hint: column N; based on percentages; exclude totals) in the income statement and adjust the border around the income statement to include them. (PG-6a) Use the header Sparkline Trends and make its formatting consistent with that of the adjacent headers. (PG-6b)

    Calculate

    Ratio

    s and Insert Cell Comments

    You will create a new worksheet on which to calculate the ratios, some of the data for which is shown here:

    Ratio

    2026 2025 2024
    Quick Ratio 3.72 4.51 3.90
    Debt Ratio 0.072 0.061 0.052
    Profit Margin 0.342 0.294 0.206

    Worksheet tab name: Financial Ratios (PG-7)

    Location What to Enter/Do
    Column A Width: 14 (PG-8a)
    Range B1:F1 In order, no commas: 2028, 2027, 2026, 2025, 2024 (PG-8b)
    Range A2:A4 In order, no commas: Quick Ratio, Debt Ratio, Profit Margin (PG-8c)
    Range B2:C4 Formulas to calculate ratios for 2028 and 2027 (PG-8d)
    Range D2:F4 Enter the provided ratios (PG-8e)
    Range G2:G4 Line Sparklines that display all five years of ratio data (PG-8f)

    Formatting:

    • Range B1:F1: Bottom Border, Bold formatting, Center (horizontal) alignment (PG-9a)
    • Range A2:A4: Bold formatting (PG-9a)
    • All quick and debt ratios: Comma Style (PG-9b)
    • All debt ratios: Show three decimal places (PG-9b)
    • All profit margins: Percent Style, one decimal (PG-9b)

    After inputting and formatting the data:

    • Insert comments in the cells for the largest debt ratio and the smallest profit margin to indicate that further investigation is required. Respond to the comment for the smallest profit margin, indicating client attrition led to the reduced earnings for the year. Make sure the response is distinct from the original comment. (PG-10a)
    • Embed a Line chart below the ratio data that displays the profit margin trend over the fiveyear period. Make sure to include an appropriate chart title! (PG-10b)

    Save and close the file.

  • Using Project Grader: Save the file as EA9-A1-FSA-eSubmission and attach it to the assignment you submit for grading.
  • Not using Project Grader: Submit the file per your instructor’s guidelines.

    • EA9-A2 Perform a Financial Statement Analysis for Water Feature Designers Inc. In this exercise, you will perform a financial statement analysis for Water Feature Designers Inc. You will perform horizontal/vertical analyses and create charts to highlight key information from these analyses. You will also calculate financial ratios and insert cell comments.Access the proper file.Using Project Grader: Download EA9-A2-FSA-eStart.Not using Project Grader: Open EA9-A2-FSA.Horizontal Analysis TabRange K8:K21: Create formulas to calculate the dollar change where appropriate. (PG-1a)Range M8:M21: Create formulas to calculate the percent change where appropriate. (PG-1b)Create an embedded Clustered Column chart. (PG-2)Based on: Percent change in each expense accountPosition: To the right of and top-aligned with the income statementChart Title: Enter an appropriate name, centered above the column chart.Resize the chart as necessary so all elements are logically displayed.Change the chart type to Clustered Bar and remove gridlines.Vertical Analysis TabColumns K–L: Create formulas to complete a vertical analysis on the balance sheet for 2028 and 2027. (PG-3)Create a Clustered Column Chart. (PG-4)Placement: On its own tab named Asset Chart – 2028Based on: 2028 asset account percentages and including the Total Assets cellChart Title: Enter an appropriate name, centered above the column chart.Change the chart type to 3-D Pie. (PG-5)Filter out: Total Assets and Land (PG-5a)Layout and style: Layout 6, Style 7 (PG-5b)Legend: Display it at bottom. (PG-5c)Data labels: Outside End; display Percentages, two decimals (PG-5d)Y-axis: Rotate to 50 degrees. (PG-5e)Chart title background: Solid, standard blue fill (PG-5f)Explode the smallest pie slice. (PG-5g)Display Column Sparklines to the right of each asset, liability, and owner’s equity account (hint: column N; based on percentages; exclude totals) on the balance sheet and adjust the border around the balance sheet to include them. (PG-6a) Use the header Sparkline Trends and make its formatting consistent with that of the adjacent headers. (PG-6b)Calculate Ratios and Insert Cell CommentsYou will create a new worksheet on which to calculate the ratios, some of the data for which is shown here:Ratio20262025Current Ratio7.623.45Debt-to-Equity Ratio0.170.28Profit Margin0.1860.292Worksheet tab name: Financial Ratios (PG-7)LocationWhat to Enter/DoColumn AWidth: 20 (PG-8a)Range B1:F1In order, no commas: 2028, 2027, 2026, 2025, 2024 (PG-8b)Range A2:A4In order, no commas: Current Ratio, Debt-to-Equity Ratio, Profit Margin (PG-8c)Range B2:C4Formulas to calculate ratios for 2028 and 2027 (PG-8d)Range D2:F4 Enter the provided ratios (PG-8e)Range G2:G4Line Sparklines that display all five years of ratio data (PG-8f)Formatting:Range B1:F1: Bottom Border, Bold formatting, Center (horizontal) alignment (PG-9a)Range A2:A4: Bold formatting (PG-9a)All current and debit-to-equity ratios: Comma Style (PG-9b)All profit margins: Percent Style, one decimal (PG-9b)After inputting and formatting the data:Insert comments in the cells for the largest profit margin and the smallest debt-to-equity ratio to indicate that further investigation is required. Respond to the comment for the largest profit margin, indicating that a single, large client led to inflated earnings for the year. Make sure the response is distinct from the original comment. (PG-10a)Embed a Line chart below the ratio data that displays the current ratio trend over the fiveyear period. Make sure to use an appropriate chart title! (PG-10b)Save and close the file.Using Project Grader: Save the file as EA9-A2-FSA-eSubmission and attach it to the assignment you submit for grading.Not using Project Grader: Submit the file per your instructor’s guidelines. Legal Services Co.
    Comparative Balance Sheet
    December 31, 2027 and December 31, 2028
    Assets:
    Cash
    Petty Cash
    Supplies
    Land
    Total Assets
    Liabilities:
    Accounts Payable
    Owner’s Equity:
    Jean Evans, Capital
    Total Liabilities & Owner’s Equity
    2028
    2027
    $ 33,000.00
    1,250.00
    7,400.00
    50,000.00
    $ 91,650.00
    $ 24,300.00
    1,250.00
    6,500.00
    50,000.00
    $ 82,050.00
    3,600.00
    4,700.00
    88,050.00
    $ 91,650.00
    77,350.00
    $ 82,050.00
    Dollar
    Change
    Percent
    Change
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    Legal Services Co.
    Common-Size Income Statement
    For the Years Ended December 31, 2027 and December 31, 2028
    2028 Dollar 2027 Dollar
    Amount
    Amount
    Revenues:
    Service Revenue
    Expenses:
    Wages Expense
    Insurance Expense
    Advertising Expense
    Maintenance Expense
    Computer Expense
    Supplies Expense
    Total Expenses
    Net Income
    $
    351,800
    114,500
    31,300
    102,800
    32,300
    4,360
    3,250
    288,510
    63,290
    $
    394,200
    107,600
    30,300
    98,500
    18,600
    12,400
    3,600
    271,000
    123,200
    2028
    2027
    Percentage Percentage
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    Water Feature Designers Inc.
    Comparative Income Statement
    For the Years Ended December 31, 2027 and December 31, 2028
    2028
    Revenues:
    Service Revenue
    Interest Revenue
    Total Revenue
    Expenses:
    Supplies Expense
    Rent Expense
    Salaries Expense
    Utilities Expense
    Insurance Expense
    Auto Expense
    Computer Expense
    Repair & Maintenance Expense
    Total Expenses
    Net Income
    $
    $
    247,600
    1,520
    249,120
    74,600
    60,000
    45,300
    3,800
    3,250
    2,900
    1,140
    800
    191,790
    57,330
    2027
    $
    $
    286,300
    1,600
    287,900
    101,800
    60,000
    51,200
    7,500
    3,670
    2,080
    1,800
    410
    228,460
    59,440
    Dollar
    Change
    Percent
    Change
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    Water Feature Designers, Inc.
    Common-Size Balance Sheet
    December 31, 2027 and December 31, 2028
    Assets:
    Cash
    Notes Receivable (Short-Term)
    Supplies
    Land
    Total Assets
    Liabilities:
    Accounts Payable
    Owner’s Equity:
    Arnold McBride, Capital
    Total Liabilities & Owner’s Equity
    2028 Dollar
    Amount
    2027 Dollar
    Amount
    $
    $
    428,000
    18,700
    4,670
    51,400
    502,770
    443,200
    23,200
    400
    51,400
    518,200
    31,000
    57,300
    471,770
    502,770
    460,900
    518,200
    2028
    2027
    Percentage Percentage
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