财务管理基础第13版block 13e chap.pdf

Chapter Outline • e Statement • Price-earnings Ratio • Balance Sheet • Statement of Cash Flows • Tax- Investments (Deprecation) 2-2 Basic Financial Statements • e Statement • Balance Sheet • Statement of Cash Flows 2-3 e Statement • Device to measure the profitability of a firm over a period of time – It covers a defined period of time – It is presented in a stair-step or progressive fashion to examine profit or loss after each type of expense item is deducted 2-4 e Statement (cont’d) Sales – Cost of Goods Sold (COGS) = Gross Profit (GP) GP – Expenses = Earnings Before Interest and Taxes (EBIT) or Operating e (OI) EBIT – Interest = Earnings Before Taxes (EBT) EBT – Taxes = Earnings After Taxes (EAT) o e (NI) 2-5 e Statement (cont’d) 2-6 Return to Capital • Three primary sources of capital: – Bondholders – Preferred stockholders – Common stockholders • Earnings per share – Interpreted in terms of number of outstanding shares – May be paid out in dividends or retained by for subsequent reinvestment • Statement of retained earnings – Indicates disposition of earnings 2-7 Statement of Retained Earnings