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FINANCIAL STATEMENT MODELING EXAM 2024/ACTUAL EXAM FROM WALL STREET PREP WITH 100% CORRECT AND VERIFIED ANSWERS AND RATIONALES/ WSP FINANCIAL STATEMENT MODELING/LATEST UPDATE R372,79
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FINANCIAL STATEMENT MODELING EXAM 2024/ACTUAL EXAM FROM WALL STREET PREP WITH 100% CORRECT AND VERIFIED ANSWERS AND RATIONALES/ WSP FINANCIAL STATEMENT MODELING/LATEST UPDATE
FINANCIAL STATEMENT MODELING EXAM 2024/ACTUAL EXAM FROM WALL STREET PREP WITH 100% CORRECT AND VERIFIED ANSWERS AND RATIONALES/ WSP FINANCIAL STATEMENT MODELING/LATEST UPDATE
FINANCIAL STATEMENT MODELING EXAM 2024/ ACTUAL EXAM FROM WALL STREET PREP WITH 100% CORRECT AND VERIFIED ANSWERS AND RATIONALES/ WSP FINANCIAL STATEMENT MODELING /LATEST UPDATE 2024 -2025 Financial Statement Modeling Exam Questions 1-4 will refer to an AEO 10K that you can download by clicking here. Ignoring the impact of Share -based compensation expense included in cost of sales, what is gross profit for the year ending 1/30/2016? o $1,267,757 o $1,323,734 o $1,326,181 o $1,337,711 o $1,372,581 Your answer is incorrect. RATIONALE: The correct answer is $1,323,734 Share -based compensation in cost of sales can be found by searching the Company’s 10 -K and is described in the Gross Profit section of Management’s Discussion and Analysis. This amount needs to be added back to Gross Profit from the Company’s Income Statement. This question uses the same AEO 10k as the previous question. What is depreciation expense for the year ending 1/30/2016? o $112.6 million o $119.6 million o $128.4 million o $140.6 million o $148.2 million Your answer is correct. RATIONALE: The correct answer is $140.6 million Depreciation expense is in the Property and Equipment section of the Company’s 10K footnotes. Note the amount listed on the Cash Flow Statement is Depreciation AND Amortization. This question uses the same AEO 10k as the previous question. What is AEO’s share count on 3/7/2016? o 180.1 million o 180.7 million o 194.4 million o 196.2 million o 196.7 million Your answer is correct. RATIONALE: The correct answer is 180.7 million This amount can be found at the bottom of the Title page of the 10K. This question uses the same AEO 10k as the previous question. • Question 1 • Question 2 • Question 3 • Question 4 As of 1/30/2016, what is the sum of the next 5 years’ amortization expenses of AEO’s intangible assets? o $3.5 million o $9.7 million o $12.2 million o $15.6 million o $17.3 million Your answer is correct. RATIONALE: The correct answer is $17.3 million This amount can be found in the Intangible Assets section of the 10K Footnotes. • Question 5 All else being equal, which of the following does NOT lead to a lower revolver balance for a Company? o Higher Cash Flow from Operations o Increased Dividends o Increase of existing cash on the Balance Sheet o Increases in Accounts Payable o Increase in Minimum cash balance o 1 and 4 only o 2 and 4 only o 3 and 5 only o 4 and 5 only o 2 and 5 only Your answer is correct. The correct answer is 2 and 5 only RATIONALE: Increased dividends would use cash that could otherwise be used to paydown the Revolver. Increase in Minimum cash balance would reduce cash available to paydown debt by keeping additional cash on the Balance Sheet. • Question 6 This question will refer to the data below. For this question, assume that: Vorsche Motor Company reported results for the fiscal year ended 12/31/2013 which included the following disclosures: Select balances as of 12/31/2013: o Gross PP&E: 28,519.00 o Net PP&E: 16,597.00 o Non-depreciable PP&E (i.e., land): 1,650.00 o Accumulated depreciation: 11,922.00 o Net PP&E (excl. land): 14,947.00 o During the fiscal year ended 12/31/2013 depreciation expense was $5,797.0. Assume no salvage value.
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