QUESTION 1
If you had to write a paragraph on the Lincoln assassination, what would you like to know more about? Create three research questions that would be appropriate for a historical analysis paragraph, keeping in mind the characteristics of a critical research question. The three questions can be related, or they can address different aspects of the topic.
QUESTION 2
If you had to write a paragraph on Title IX, what would you like to know more about? Create three research questions that would be appropriate for a historical analysis paragraph, keeping in mind the characteristics of a critical research question. The three questions can be related, or they can address different aspects of the topic.

QUESTION 3
In the following scenario, which historical lens is being applied? Why do you think so?
The influx of unskilled Irish immigrants into New York City in the 1840s and early 1850s drives down wages for other workers at the low end of the salary ladder.

QUESTION 4
In the following scenario, which historical lens is being applied? Why do you think so?
In 1908 Aram Pothier, an immigrant from Quebec, is elected governor of Rhode Island with strong support from the Qubcois community.

QUESTION 5
In the following scenario, which historical lens is being applied? Why do you think so?
Irish immigrants and first-generation Irish-Americans come to dominate the hierarchy of the American Catholic Church in the late 19th century.

QUESTION 6
In the following scenario, which historical lens is being applied? Why do you think so?
Immigration to the United States comes to be seen as a “rite of passage” for young Qubcois women in the early 20th century.

QUESTION 7
If you had to write a paragraph on the Lincoln assassination, what would you like to know more about? Create three research questions that would be appropriate for a historical analysis paragraph, keeping in mind the characteristics of a critical research question. The three questions can be related, or they can address different aspects of the topic.

QUESTION 8
If you had to write a paragraph on Title IX, what would you like to know more about? Create three research questions that would be appropriate for a historical analysis paragraph, keeping in mind the characteristics of a critical research question. The three questions can be related, or they can address different aspects of the topic.
QUESTION 9
Write a research question for the topic Equal Rights Amendment this is the topic I have to do my final paper on.

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mba

Instructions

Version 10 June 2022

Project 1, Step 4: Instructions for This Excel Workbook

View the balance sheet and income statement for the client company, Largo Global Inc. (LGI), using this Excel workbook, which includes the following tabs:

1. Bal. Sheet & Inc. Statement

2. Ratio Analysis

3. Common-size Analysis

4. Cash Flow Analysis

You may submit this workbook as a milestone in Step 4, so you can receive feedback on the accuracy of your calculations before submitting your final project in Step 5 at the end of Week 2.

Open tab 1. You see the balance sheet and income statement for LGI for 201820. You also see estimated average income statement data for LGIs main competitors.

Use this information to complete the calculations in tabs 24.

Perform your calculations using the formula bar in the Excel workbook.

Open tab 2. You see six groups of financial ratios as well as an industry benchmark you can use for comparison with LGI’s 201820 ratios.

Calculate the ratios for each year.

Open tab 3.

Complete a common-size analysis.

Open tab 4.

Complete a cash flow analysis.

1. Bal. Sheet & Inc. Statement

Largo Gobal Balance Sheet as of December 31 (millions)

2020
2019
2018

2020
2019
2018

Assets:

Liabilities and Stockholders’ Equity:

Cash and marketable securities
$ 228
$ 366
$ 169

Accounts payable and accruals
$ 361
$ 324
$ 312

Accounts receivable
$ 188
$ 181
$ 157

Notes payable
$ 140
$ 103
$ 61

Inventory
$ 404
$ 398
$ 349

Accrued taxes
$ 56
$ 88
$ 109

Other current assets
$ 18
$ 10
$ 5

Total current liabilities
$ 557
$ 515
$ 482

Total current assets
$ 838
$ 955
$ 680

Property, plant, and equipment
$ 4,000
$ 3,358
$ 2,976

Long-term debt
$ 457
$ 379
$ 283

Less: Accumulated depreciation
$ 2,000
$ 1,826
$ 1,608

Total liabilities
$ 1,014
$ 894
$ 765

Net property, plant, and equipment
$ 2,000
$ 1,532
$ 1,368

Common Stock (98,051,400 shares)
$ 490
$ 487
$ 483

Goodwill and other assets
$ 1,280
$ 1,280
$ 1,280

Additional Paid-in capital
$ 2,439
$ 2,222
$ 1,982

Retained earnings
$ 270
$ 179
$ 98

Treasury stock
$ (95)
$ (15)
$ –

Total stockholders equity
$ 3,104
$ 2,873
$ 2,563

Total assets
$ 4,118
$ 3,767
$ 3,328

Total liabilities and equity
$ 4,118
$ 3,767
$ 3,328

Number of shares
98,051,400
97,302,600
96,521,200

2020
2019
2018
Estimate competitor

Sales (net sales)
$ 2,013
$ 2,450
$ 2,733
$ 7,564

Cost of goods sold
$ 1,400
$ 1,689
$ 1,765
$ 3,883

Gross profit
$ 613
$ 761
$ 968
$ 3,681

Selling, general, and administrative expenses
$ 125
$ 98
$ 91
$ 105

Earnings before Interest, taxes, depreciation, and amortization (EBITDA)
$ 488
$ 663
$ 877
$ 3,576

Depreciation and amortization
$ 174
$ 218
$ 259
$ 743

Earning before interest and taxes (EBIT) Operating income (loss)
$ 314
$ 445
$ 618
$ 2,833

Interest expense
$ 141
$ 137
$ 125
$ 207

Earnings before taxes (EBT)
$ 173
$ 308
$ 493
$ 2,626

Taxes (34%)
$ 59
$ 105
$ 168
$ 893

Net earnings (loss)/Net Income
$ 114
$ 203
$ 325
$ 1,733

Average Total Assets 2020

Jan 1, 2020
$ 3,767

Dec 31, 2020
$ 4,118

Sub-total (A)
$ 7,885

Average (A/2)
$ 3,943

2. Ratio Analysis

2020
2019
2018
Industry Benchmark

Notes

Liquidity Ratios

Current ratio
1.5044883303
1.854368932
1.4107883817
1.92

CA/CL

Quick ratio
0.7791741472
1.0815533981
0.6867219917
1.25

CA – INV/CL

Cash ratio
0.7791741472
1.0815533981
0.6867219917
0.86

Cash&Cash Equivalents/ CL

Efficiency Ratios

Inventory turnover ratio
3.4653465347
4.243718593
5.0573065903
5.37

CGS/INV

Days’ sales in inventory
105.3285714286
86.009473061
72.1728045326
50.6

365/INV turnover

Accounts receivable turnover
10.7074468085
13.5359116022
17.4076433121
18.12

Sales / Ave AR

Days’ sales outstanding
34.088425236
26.9653061224
20.9678009513
21.5

12 month DSO is (Ave AR/Sales)*365

Total asset turnover (TAT)
0.4888295289
0.6503849217
0.8212139423
0.9

Sales / Ave Total Assets

Fixed assets turnover
0.50325
0.7296009529
0.9183467742
2.75

Sales / Ave Net Fixed Assets

Leverage Ratios

Total debt ratio
0.2462360369
0.2373241306
0.2298677885
0.21

Tot Debt / Tot Assets

Debt to equity ratio
0.3266752577
0.3111729899
0.2984783457
0.27

Tot Debt / Tot Equity

Equity multiplier (EM)
1.3266752577
1.3111729899
1.2984783457
1.23

Tot Assets / Tot SE

Times interest earned
2.2269503546
3.2481751825
4.944
5.5

EBIT / Int Exp

Cash coverage
3.4609929078
4.8394160584
17.2753623188
9.3

EBITDA/ Int Exp

Profitability Ratios

Profit Margin (PM)
5.66%
8%
12%
14.00%

NI/Net Sales

Gross profit margin
30.45%
31%
35%
48.00%

GM/Sales

Operating profit margin
16%
18%
23%
24.00%

EBIT / Sales

EBIT return on assets (EROA)
8%
12%
19%
19.00%

EBIT/Tot Assets

ROA
3%
5%
10%
17.00%

NI / Tot Assets

ROE
4%
7%
13%
15.00%

NI / SE

Market Value ratios (*)

Earning per share (EPS)
1.16265551
2.0703427
3.31458806
n.a.

NI / Outstanding shares

Price-earnings ratio
$ 2,669.75
$ 1,387.69
$ 773.25
n.a.

Price/EPS

DuPont Equation

PM
0.06%
0.27%
0.12%
14.00%

NI/Net Sales

TAT
0.4888295289
0.6503849217
0.8212139423
0.9

Sales / Ave Total Assets

EM
1.3266752577
1.3111729899
1.2984783457
1.23

Tot Assets / Tot SE

ROE
0.04%
0.07%
0.13%
15.00%

NI / SE

(*) Price per share
$ 65.00
$ 68.00
$ 71.00

3. Common-size Analysis

2020

2019

2018

2020

2019

2018

% of Assets
change
% of Assets
change
% of Assets

% of Assets
change
% of Assets
change
% of Assets

Assets:

Liabilities and Stockholders’ Equity:

Cash and marketable securities
5.54%
-4.18%
9.72%
4.64%
5.08%

Accounts payable and accruals
8.77%
0.17%
8.60%
-0.77%
9.38%

Accounts receivable
4.57%
-0.24%
4.80%
0.09%
4.72%

Notes payable
3.40%
0.67%
2.73%
0.90%
1.83%

Inventory
9.81%
-0.75%
10.57%
0.08%
10.49%

Accrued taxes
1.36%
-0.98%
2.34%
-0.94%
3.28%

Other current assts
0.44%
0.17%
0.27%
0.12%
0.15%

Total current liabilities
13.53%
-0.15%
13.67%
-0.81%
14.48%

Total current assets
20.35%
-5.00%
25.35%
4.92%
20.43%

Property, plant, and equipment
97.13%
7.99%
89.14%
-0.28%
89.42%

Long-term debt
11.10%
1.04%
10.06%
1.56%
8.50%

Less: Accumulated depreciation
48.57%
0.09%
48.47%
0.16%
48.32%

Total liabilities
24.62%
0.89%
23.73%
0.75%
22.99%

Net property, plant, and equipment
48.57%
7.90%
40.67%
-0.44%
41.11%

Common Stock (98,051,400 shares)
11.90%
-1.03%
12.93%
-1.59%
14.51%

Goodwill and other assets
31.08%
-2.90%
33.98%
-4.48%
38.46%

Additional Paid-in capital
59.23%
0.24%
58.99%
-0.57%
59.56%

Retained earnings
6.56%
1.80%
4.75%
1.81%
2.94%

Treasury stock
-2.31%
-1.91%
-0.40%
-0.40%
0.00%

Total stockholders equity
75.38%
-0.89%
76.27%
-0.75%
77.01%

Total assets
100.00%
0.00%
100.00%
0.00%
100.00%

Total liabilities and equity
100.00%
0.00%
100.00%
0.00%
100.00%

2020

2019

2018

% of Sales
change
% of Sales
change
% of Sales

Net sales

Cost of goods sold

Gross profit

Selling, general, and administrative expenses
3.04%
0.43%
2.60%
-0.13%
2.73%

Earnings before Interest, taxes, depreciation, and amortization (EBITDA)

Depreciation and amortization
4.23%
-1.56%
5.79%
-2.00%
7.78%

Earning before interest and taxes (EBIT) Operating income (loss)

Interest expense
3.42%
-0.21%
3.64%
-0.12%
3.76%

Earnings before taxes (EBT)

Taxes
1.43%
-1.35%
2.79%
-2.26%
5.05%

Net earnings (loss)/Net Income
2.77%
-2.62%
5.39%
-4.38%
9.77%

0

4. Cash Flow Analysis

2020
2019

Operating Activities

Net income
114
203

Additions (sources of cash)

Depreciation
$ 174
$ 218

Increase in accounts payable
$ 361
$ 324

Subtractions (uses of cash)

Increase in accounts receivable
$ 188
$ 181

Decrease in accrued income taxes
$ 56
$ 88

Increase in other current assets
$ 18
$ 10

Increase in inventories
$ 404
$ 398

Net cash provided by operating activities
272
334

Long-Term Investing Activities

Increase in property equipment
$ 4,000
$ 3,358

Decrease in goodwill and other assets
$ 1,280
$ 1,280

Net cash used in investing activities
-642
-382

Financing Activities

Increase in notes payable
$ 140
$ 103

Increase in long-term debt
$ 457
$ 379

Sale of common stock
$ 490
$ 487

Payment of cash dividends **
$ (23)
$ 122

Purchase of treasury stock
$ (95)
$ (15)

Net cash provided by financing activities
232
245

Net increase in cash and marketable securities
$ 228
$ 366

Cash and marketable securities at beginning of year

Cash and marketable securities at end of year

all grey cells need to be filled

** Dividends:

2020
2019

Jan 1 Retained Earnings
$ 179
$ 98

add Net Income
$ 114
$ 203

sub-total
$ 293
$ 301

less dividends
$ (23)
$ 122

Dec 31 Retained Earnings
$ 270
$ 179

Sheet1